Lancashire Share Discussion Threads

[square1] 03/6/2009 09:04

To be precise the changes are deided on closing prices 9th June, the price they enter the index is closing price on 19th. As LRE are currently at around 177 or so they are a certainty to enter.

[square1] 02/6/2009 20:18

You are correct Typo, and as it was not in the small cap index there are a lot of shares to be bought!!

[typo56] 02/6/2009 20:15

I may be mistaken but I think LRE will enter the FTSE 250 index on 22nd June.

[red star 81] 20/5/2009 12:39

nice quiet thread! went long these today, chart looking fantastic now it's broken £5

[bammbamm] 08/4/2009 07:30

Hence the drop today:
LONDON (Dow Jones)--Insurer Lancashire Holdings Ltd. (LRE.LN) Wednesday said it predicted that the negative net impact of Hurricane Ike on its financial results will be $189.2 million, after earlier forecasting it would impact them by $150.8 million.

Lancashire said the loss estimate was driven by Gulf of Mexico offshore energy contracts and attributed the increase to rising costs associated with the removal of wreckage, updated loss notifications from insurers, as well as weather-related delays in the repair of damaged assets.

The company said that it expects to achieve moderate growth in book value a share in the first quarter.

Lancashire said that it expects a surge in demand during the second quarter as the hurricane season approaches once again.

[martinc] 13/3/2009 09:40

posted on wrong thread - deleted!

[johnthespacer] 26/2/2009 08:33

16th of March

[johnthespacer] 25/2/2009 21:27

when does this move to main market?
thanks in advance

[d0ubtf1re] 25/2/2009 14:47

From NT website

However I have made one buy. The buy is a strange one for me as it's an AIM stock (drat!! Can't put it in my ISA). But though it's AIM it is a big company. So I bought a few outside it - and also a few through a spreadbet.

The share is Lancashire. (LRE) What I like about it is first it moves to the main market next month and also its tremendous performance in a poor market.

I like shares about to move up - funds will have to buy in as it'll get automatic entry into the FTSE 250. I got 750 shares at 468.5. Stop 440 target 550.

The downside? Well it could be a good share but I could also be buying at the wrong time after a big rise. Tricky decision but worth a go with a tightish stop loss. With promotion due soon my guess is some funds will be looking to get in.

If my timing is wrong (currently losing on it as it's 465p) I'll take a quick loss and try and buy back in lower before the move to the main market.

[miamisteve] 13/10/2008 06:06

That confirms my suspicion on why the buybacks suddenly stopped. Huge loss from hurricane Ike.

With their conservative investment performance lancashire will get through this but there's going to be some carnage in the sector.

[ursus] 09/10/2008 15:00

cheap as chips. but who knows - may be cheaper next week.

[miamisteve] 06/10/2008 06:02

Move to official list will put lancashire in the ftse 250.

[miamisteve] 19/9/2008 12:08

LOL!

And then down on a day like today. LRE are not afforded the same protection as other financials due to being registered in Bermuda.

The announcement reconfirms that they are unexposed to the messy investments that have plagued certain insurance stocks.

Also not exposed to AIG in anyway.

[miamisteve] 18/9/2008 07:17

Top performing stock in the sector since the crash (actually managing to rise) whilst financials have been in turmoil. Large volume yesterday to boot. And the buybacks have stopped.

If they have been approached then of course there would not be allowed to continue the buybacks.

[miamisteve] 16/9/2008 12:45

Something weird going on here.

The company have stopped buying back and the markets (especially insurance stocks) are tanking, but there's buying pressure here. Takeover?

I noticed a similar thing at highway where the stock seemed to defy gravity at 49p before getting bought out all cash at 75p.

[wjccghcc] 09/9/2008 10:38

Although given they're in US prop/cas, I'd have thought they have quite a bit of exposure to hurricane season.

[miamisteve] 09/9/2008 10:31

The only question mark I had with the stock was removed when Freddie Mac and FNM got nationalised over the weekend.

That completely derisks lancashires assets. With the strength of the dollar, probably now at a 20% discount to book value.

[miamisteve] 08/8/2008 15:36

Asset base is dollar denominated so should fair well from a strengthening green back.

[miamisteve] 06/8/2008 01:00

fully diluted book value around £3.50 a share. They'll keep buying back £1 for 85p. Happy to keep my money in here rather than cash for a steady +15% for the rest of the year.

[cockneyrebel] 05/8/2008 08:09

Decent results - dlosed my long tho - took 10p a share Frauddy :-)

CR

[miamisteve] 04/8/2008 13:51

Q2 Results tomorrow.

Will be very interesting.

[cockneyrebel] 26/7/2008 15:22

I'll post it again for you Frauds - read it this time:

Richard Brindle, Group Chief Executive Officer, commented:

'I am extremely pleased to report a very strong performance by Lancashire. In
the first quarter the industry suffered a number of severe property risk losses.
Lancashire is a major insurer in this sector. It is therefore a great
testament to our underwriting team that Lancashire has produced a 39% loss ratio
in such a challenging period. Our estimated loss from the property risk events
in the first quarter is between $20 and $25 million, gross and net. In the
context of losses in this sector estimated at up to six billion dollars,
together with cat losses of approximately three to four billion dollars, this is
solid evidence of our underwriting strength.''Losses from the credit crisis are accelerating. The investment markets are
rightly cautious about the financial consequences for insurers writing D&O or E&
O risks, or holding investment classes suffering material write-downs.
Lancashire is not one of these companies. We do not write insurance classes
exposed to credit crisis losses and we maintain a particularly unadventurous
investment portfolio. We made the decision in late 2007 to exit all non-agency
structured product sectors. The carnage of the first quarter confirmed that was
absolutely the right thing to do. Investors should take great comfort that our
balance sheet is stronger than ever.'

The company is buying back shares as fast as it can, 5% of the co bought back in the past quarter.

CR

[ydderf] 26/7/2008 03:45

"Insurance shares around the globe were sent sliding yesterday after the world's second-biggest reinsurer revealed second-quarter earnings had tumbled 48pc and warned of "substantial" writedowns on its equity investments.

Munich Re, which was founded in 1880 and last year recorded a €3.94bn (£3.1bn) profit, saw its shares tumble as much as 11pc - its biggest fall in more than five years. It warned that 2008 profits will be lower than expected as second-quarter consolidated profit almost halved to about €600m.

The insurance leader said: "Against the background of steep falls in share and bond prices, Munich Re expects its profit for 2008 to be below the previously envisaged range of €3-€3.4bn, but still well above €2bn."