Lancashire Holdings Limited (LRE)

Sector:

Insurance

Index:

FTSE 250

724.50p
   
  • Change Today:
    -15.50p
  • 52 Week High: 807.00
  • 52 Week Low: 640.50
  • Currency: UK Pounds
  • Shares Issued: 202.94m
  • Volume: 1,498,617
  • Market Cap: £1,470.31m
  • RiskGrade: 102

Canaccord downgrades Lloyd\'s insurers Beazley, Hiscox and Lancashire

By Michele Maatouk

Date: Monday 08 Jul 2019

LONDON (ShareCast) - (Sharecast News) - Canaccord Genuity cut its stance on Hiscox, Beazley and Lancashire on Monday as it took a look at the UK insurance sector and said first-quarter commentary points to more challenges.
The broker downgraded Hiscox to \'sell\' from hold\', keeping the price target at 1,580p. It cut Beazley to \'hold\' from \'buy\', keeping the 610p price target and downgraded Lancashire Holdings to \'hold\' from \'buy\' with an unchanged price target of 725p

Canaccord maintained its \'buy\' rating on Hastings, but reduced the price target to 225p from 235p and kept Sabre at \'hold\' while trimming the price target to 305p from 310p. It kept Direct Line at \'sell\' with a 280p price target.

\"For the Lloyd\'s insurers (Beazley, Hiscox and Lancashire), there were positive comments about rating momentum (albeit not a hard market), much improved investment returns but some negatives re higher attritional loss activity and loss creep (especially around Typhoon Jebi), all of which will impact reserve releases,\" it said.

\"For personal lines insurers (Direct Line, Hastings and Sabre), the continued pressure on pricing that means, for most, any rate rises achieved are not as yet keeping up with, let alone surpassing, current (high) claims inflation. This suggests the resultant turn in UK motor rates could well be pushed out to Q4 19/Q1 20.\"

Canaccord said it expects Beazley and Hiscox to take a more cautious stance on both 2018-19 claims and reserve movements, especially on casualty/Typhoon Jebi, which will impact 2019.

\"We see a similar theme at Lancashire, albeit without the prior year loss creep, plus it does not have large casualty exposures,\" it added.

At 1100 BS, Beazley shares were down 0.8% at 562p, Hiscox was 0.6% lower at 1,758p and Lancashire was 0.3% lower at 701.50p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

LRE Market Data

Currency UK Pounds
Share Price 724.50p
Change Today -15.50p
% Change -2.09 %
52 Week High 807.00
52 Week Low 640.50
Volume 1,498,617
Shares Issued 202.94m
Market Cap £1,470.31m
RiskGrade 102

LRE Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
26.01% above the market average26.01% above the market average26.01% above the market average26.01% above the market average26.01% above the market average
16.67% below the sector average16.67% below the sector average16.67% below the sector average16.67% below the sector average16.67% below the sector average
Price Trend
71.37% above the market average71.37% above the market average71.37% above the market average71.37% above the market average71.37% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Income
68.45% above the market average68.45% above the market average68.45% above the market average68.45% above the market average68.45% above the market average
40.00% above the sector average40.00% above the sector average40.00% above the sector average40.00% above the sector average40.00% above the sector average
Growth
88.47% above the market average88.47% above the market average88.47% above the market average88.47% above the market average88.47% above the market average
66.67% above the sector average66.67% above the sector average66.67% above the sector average66.67% above the sector average66.67% above the sector average

What The Brokers Say

Strong Buy 5
Buy 2
Neutral 5
Sell 0
Strong Sell 1
Total 13
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

LRE Dividends

  Latest Previous
  Final Interim
Ex-Div 07-May-20 08-Aug-19
Paid 05-Jun-20 06-Sep-19
Amount 10.00¢ 5.00¢

Trades for 28-Feb-2020

Time Volume / Share Price
16:35 446,265 @ 724.50p
16:29 40 @ 726.50p
16:29 162 @ 725.50p
16:29 120 @ 725.50p
16:29 13 @ 726.50p

LRE Key Personnel

CEO Alex Maloney

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