Added to YB: 2026-05-12
Pitch date: 2026-05-09
LRE.L [bullish]
Lancashire Holdings Limited
-0.51%
current return
Author Info
No bio for this author
Company Info
Lancashire Holdings Limited, together with its subsidiaries, provides specialty insurance and reinsurance products in London, Bermuda, and Australia.
Market Cap
GBP 1.9B
Pitch Price
GBP 5.90
Price Target
N/A
Dividend
18.38%
EV/EBITDA
5.58
P/E
6.86
EV/Sales
1.27
Sector
Insurance
Category
dividend
Lancashire Holdings (LRE LN) – Love Actuary
LRE.L: Specialty (re)insurer transformed from concentrated 5-line biz (2017 loss on hurricanes Harvey/Irma/Maria) to diversified 9-line, 50+ sub-class platform. FY25 ROE 19.4%, guiding 'high teens' for FY26. Despite 2025 California wildfires ($163M loss), Insurance Service Result stable at $381M. Investment portfolio doubled to $3.1bn (2.2yr duration, A+ avg rating), driving net inv income from $29M (2020) to $218M (2025). BSCR ratio 254% vs 170% floor. Trades 7x P/E, 1.3x P/B, double-digit div yield despite rate softening. Consistent capital returns: 90% of operating cash via divs since 2009.
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