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LRE Lancashire Holdings Limited

-6.00 (-0.92%)
08 Dec 2023 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Lancashire Holdings Limited LSE:LRE London Ordinary Share BMG5361W1047 COM SHS USD0.50
  Price Change % Change Share Price Shares Traded Last Trade
  -6.00 -0.92% 643.00 408,815 16:35:16
Bid Price Offer Price High Price Low Price Open Price
637.00 638.50 662.50 637.00 662.50
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Fire, Marine, Casualty Ins USD 1B USD -3.3M USD -0.0138 -461.59 1.52B
Last Trade Time Trade Type Trade Size Trade Price Currency
18:08:35 O 451 643.00 GBX

Lancashire (LRE) Latest News

Lancashire (LRE) Discussions and Chat

Lancashire Forums and Chat

Date Time Title Posts
16/11/202311:52Now time to buy Lancashire Holdings1,520
23/6/201104:22Lancashire Holdings General Discussion with Charts15
10/12/200711:24lancashire holdings3

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Lancashire (LRE) Top Chat Posts

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Posted at 10/12/2023 08:20 by Lancashire Daily Update
Lancashire Holdings Limited is listed in the Fire, Marine, Casualty Ins sector of the London Stock Exchange with ticker LRE. The last closing price for Lancashire was 649p.
Lancashire currently has 238,863,740 shares in issue. The market capitalisation of Lancashire is £1,521,562,024.
Lancashire has a price to earnings ratio (PE ratio) of -461.59.
This morning LRE shares opened at 662.50p
Posted at 16/11/2023 10:53 by csalvage
RBC raises Lancashire price target to 825 (800) pence - 'outperform'--
Posted at 09/11/2023 10:43 by speedsgh
"Lancashire’s Board of Directors has declared a special dividend of $0.50 per common share (approximately £0.41 per common share at the current exchange rate), which will result in an aggregate payment of approximately $119 million."

41p / 657.5p = 6.2%
Posted at 11/8/2023 15:18 by km18
Lancashire Holdings Plc posted solid HY23 Results earlier this week. Gross premiums written increased by 26.2% to $1,184 million, insurance revenue was up to $720.9 million from $579.8m. Profit after tax reached $159.2 million up from $31m a year ago. The combined ratio dipped to 71.4% while net investment returns moved back into positive territory at +2.2%. An interim dividend of $0.05 per share was also announced. Valuation looks very attractive with forward PE ratio at 5.9x top quartile for the Insurance market. The share price has been drifting sideways for nearly a year now and lacks some positive momentum accordingly. Other than that, there is a lot to like and LRE looks well worth buying for the longer run, although there is no particular rush here...

...from WealthOracle
Posted at 24/8/2022 09:30 by ppreston1
Credit Suisse raises Lancashire price target to 725 (675) pence - 'outperform'
Posted at 15/7/2022 13:42 by km18
...from a few months ago...

Lancashire is specialised in the provision of reinsurance products and global speciality insurance.  intermediaries. The Company operates through five segments: Property, Energy, Marine, Aviation and Lloyd's. It underwrites worldwide, insurance and reinsurance contracts that transfer insurance risk, including risks exposed to both natural and man-made catastrophes. The resilient diversified funding structure effectively forced up net revenue from £551.5m to £747.2m. As a result, Lancashire Holdings derived an attractive P/FCF ratio of 7.5, higher than the financial services P/FCF ratio of 5.3, which in turn signifies that Lancashire Holdings allocated its funds more efficiently to finance its operating and investing activities. Subsequently, the firm’s PE ratio stood at 9.3, lower than the financial sector P/E ratio of 15.33, suggesting that Lancashire Holdings is undervalued with respect to the financial sector and thereby the security is expected to surge in value. Consequently, it implies that investors are able to purchase the stock at a discount while still deriving precedented and attractive dividend yield of 6.05%, resulting in ample investment opportunities.

Brief Analysis:

P/FCF = 7.5, above financial services sector benchmark
P/E = 9.3, below the financial services sector threshold.
Dividend yield 6.05%.
Revenue = £747.2m, higher than prior year...

...from WealthOracleAM
Posted at 04/7/2022 06:37 by ghhghh
Lancashire cheap but lowly rated because they need to diversify to spread risk away from natural disasters. This means they are an attractive bolt on acquisition for a larger player. IMO will be taken out by year end.

Last year's disasters have allowed Lancashire to price much higher this year. IF no major disasters they will be highly profitable.

And at least less exposed to general market downturns
Posted at 28/4/2022 10:24 by medieval blacksmith
If the figures presented to me on Sharescope are correct this company has made post-tax profits in the last five years of (£70.6m), £37.6m, £118.2m, £4.5m and (£61.6m).

A five year cumulative profit of £28.1m.

And again we have:

"Intention to purchase own shares

Pursuant to and in accordance with the general authority granted by
shareholders at Lancashire's Annual General Meeting held on 27 April 2022,
Lancashire intends to purchase up to 3,000,000 of its common shares of $0.50
each in order to satisfy a number of future exercises of awards under its
Restricted Share Scheme. A further announcement in accordance with Listing Rule
12.4 will be made in due course."

Well, if they max out on purchase at current price that is £13.5M approx.

So they are spending almost half the last 5 years' cumulative profits to buy shares for the executives and such.

This comes off the back of another share repurchase scheme reminded to us in November 21:

"Pursuant to and in accordance with the general authority granted by
shareholders at Lancashire's Annual General Meeting held on 28 April 2021,
Lancashire intends to purchase up to 1,000,000 of its common shares of $0.50
each in order to satisfy a number of future exercises of awards under its
Restricted Share Scheme. A further announcement in accordance with Listing Rule
12.4 will be made in due course."

What have they done to deserve these bonuses? If they take fat remuneration during good years they should be receiving none in lean years! Oh well, they would say, we are just buying them now to hold them in treasury for donkeys' years whilst they are cheap. Yeah right!

Maloney has already cashed in £1M in options in the last 12 months! Does he remember he came crawling to shareholders for money in 2020 which diluted and didn't deliver. Bad luck is it or is it a slackening of underwriting criteria to get earnings up?

This is becoming too much 'snouts in the trough' for my liking.

Deliver the goods to shareholders and then, AND ONLY THEN, you should start thinking about your gluttonous share options and share repurchases - not the other way around.

Maloney has been a good CEO for sure, but that doesn't give him the mandate to do this IMO. This is one of the worst companies for self-entitlement that I have seen of late. Conduit executives, for example, seem to be buying the shares - and very large tranches - with their own cash. They are more in-tune with ordinary shareholders IMO and that is why I am currently a Conduit shareholder and not one in Lancashire.

Someone tell me I'm wrong.

Posted at 11/2/2022 18:22 by hopan
I am not sure BEZ results are any better if you look at the details. $200mio from reserve release and $100mio from investments... I was expecting better performance from BEZ to be honest. I am surprised with the poor return of investments 0.1% at LRE. Any expert view on their performance for us??
Posted at 21/10/2021 09:26 by professor john koestler
"If you look at the last 10 years of share price, the business has gone nowhere. They pay decent divis in good times and then engage in rights issues taking the cash back in again. Not a great business model!"

The business model in that regard is fine. They take the money when market prices are hardening and when they are soft they don't assume they are your best opportunity cost and give it you back. That is why the share price has gone nowhere because it is a symptom of the business model. If you look at overall returns with dividends and the average ROE year-by-year, it is one of the best in the business.

Bizarre that you sell when catastrophe events happen. That should be bread and butter for all of us to eat and disregard as investors in insurance. If catastrophe frightens you you shouldn't be here in the first place!

The question is: has the quality of underwriting standards fallen. I don't think so. I don't think it needs to. With interest rates likely to increase and catastrophes likely to be more frequent - or seen to be more frequent - with climate change, great opportunity presents itself to those who can ride the fear, collect the data, keep the underwriting standards and remain in the game.

I'll be adding if the price falls notably.
Posted at 23/7/2017 04:14 by garycook
Jrp,Good Posts.11%,You may have been correct on ALY,but LRE,is a different proposition I believe you will be wrong,unless we get a correction in the current markets.To be honest I hope you are correct and the LRE share price goes back to 610p,because I can also add more.Looking on the LRE Website I see the all time high is 933p,and the Low 155p.I would put money on the LRE share price hitting £9,with a take over bid,but it will never return to 155p again ?
Lancashire share price data is direct from the London Stock Exchange

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