FY16 PBT was ahead of expectations at US$150.4m but the 90c dividend was as expected ie no further specials. GPW stabilised YoY and the reported combined ratio remained impressive at only 76.5%, but also reflected no major insured catastrophe losses. The group is maintaining its downside protection with more reinsurance bought. A pricing floor is clearly getting closer but margins remain under pressure, affecting PBT. Lancashire continues to wait for the upturn, whilst paying investors to sit
17 Feb 2017
Delivering, regardless
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Delivering, regardless
Lancashire Holdings Limited (LRE:LON) | 618 0 0.0% | Mkt Cap: 1,507m
- Published:
17 Feb 2017 -
Author:
Joanna Parsons -
Pages:
6
FY16 PBT was ahead of expectations at US$150.4m but the 90c dividend was as expected ie no further specials. GPW stabilised YoY and the reported combined ratio remained impressive at only 76.5%, but also reflected no major insured catastrophe losses. The group is maintaining its downside protection with more reinsurance bought. A pricing floor is clearly getting closer but margins remain under pressure, affecting PBT. Lancashire continues to wait for the upturn, whilst paying investors to sit