Lancashire Holdings's results hold up despite 'turbulent' 2016
16th Feb 2017 07:31
(ShareCast News) - Despite macroeconomic uncertainty insurer Lancashire Holdings' results for 2016 held up and while the company remains confident about 2017, it expects "market conditions to remain difficult for the foreseeable future". For calendar 2016, return on equity remained flat at 13.5% and
Read moreLancashire Holdings appoints Andrew McKee CEO of Cathedral Underwriting
27th Jan 2017 07:57
(ShareCast News) - Bermuda-based insurance company Lancashire Holdings has appointed Andrew McKee as chief executive of Cathedral Underwriting, effective from 26 June and subject to regulatory approval. Marion Madden will continue as interim managing director of Cathedral Underwriting until McKee st
Read moreLancashire shares fall as Canaccord cuts rating to 'sell' from 'hold'
4th Nov 2016 09:14
(ShareCast News) - Shares in Lancashire Holdings fell on Friday after Canaccord Genuity reduced its rating on the insurer to 'sell' from 'hold' but raised its price target to 680p from 600p. Canaccord noted that while Lancashire reported a strong third quarter on Thursday, Lancancare's converted boo
Read moreWednesday broker round-up
2nd Nov 2016 11:59
(ShareCast News) - Lancashire: JP Morgan keeps at neutral with a target price of 595p. Rolls Royce: UBS stays at neutral, 800p target. Rio Tinto: Barclays reiterates overweight with a 3200p target. Derwent London: Goldnman Sachs reiterates buy with a 3035p target. TUI AG: UBS reiterates buy with
Read moreBroker tips: Lancashire Holdings, Grafton Group, Gym Group
1st Sep 2016 12:35
(ShareCast News) - RBC Capital Markets upgraded Lancashire Holdings to 'sector perform' from 'underperform' and lifted the price target to 625p from 500p. "Whilst we had always seen Lancashire as a high quality underwriting operation, company-specific issues at the end of 2015 led to our 'underperfo
Read moreRBC upgrades Lancashire Holdings to 'sector perform'
1st Sep 2016 10:46
(ShareCast News) - RBC Capital Markets upgraded Lancashire Holdings to 'sector perform' from 'underperform' and lifted the price target to 625p from 500p. "Whilst we had always seen Lancashire as a high quality underwriting operation, company-specific issues at the end of 2015 led to our 'underperfo
Read moreBroker tips: Cairn Energy, Lancashire, Countrywide
28th Jul 2016 13:34
(ShareCast News) - Cairn Energy shares rose on Thursday as RBC Capital Markets raised its rating on the stock to 'outperform' from 'sector perform' and reiterated a target price of 260p. "We view the recent share price weakness as an opportunity to take a position in Cairn ahead of the first half re
Read moreLancashire Holdings left at 'hold' by Canaccord
28th Jul 2016 10:55
(ShareCast News) - Lancashire Holdings was left at a 'hold' rating by Canaccord Genuity on Thursday but its target price was lifted to 600p from 550p after better-than-feared first half profits. The Bermuda-based insurance company on Wednesday reported profit before tax fell sharply to $56.6m in the
Read moreLancashire's interim profits beat forecast, capital return eyed in second half
27th Jul 2016 08:50
(ShareCast News) - Bermuda-based insurance company Lancashire Holdings' profits fell less than feared in the first half as it skirted most of the significant industry losses in recent months. Profit before tax in the second half of the year fell sharply to $56.6m in the six months ended 30 June, ahe
Read moreJon Barnes joins Cathedral Underwriting at Lancashire
15th Jun 2016 07:37
(ShareCast News) - Lancashire Holdings announced on Wednesday that Jon Barnes will be joining its Cathedral Underwriting business, to lead the underwriting of property treaty reinsurance business for Syndicate 2010. The FTSE 250 firm said Barnes has over 25 years experience in the Lloyd's market, mo
Read moreCommercial insurers face more claims, slimmer margins from August - Fitch
14th Jun 2016 09:34
(ShareCast News) - Insurers are likely to face more more claims, more intense price competition and slimmer margins, Fitch Ratings said, due to changes to UK laws on disputing commercial insurance claims and timing of payments due to come into force in August and next year. Coming into force on 12 A
Read moreThursday broker round-up
9th Jun 2016 16:34
(ShareCast News) - Fevertree Drinks: Berenberg upgrades to buy with a target price of 810p. AO World: JP Morgan keeps at neutral with a 200p target. WH Smith: JP Morgan stays at overweight with a target price of 1850p. Lancashire Holdings: UBS keeps at neutral with a target of 610p. Admiral Group
Read moreLancashire Holdings Q1 profit down, gross written premiums drop
5th May 2016 09:23
(ShareCast News) - Lancashire Holdings posted a drop in first-quarter pre-tax profit as gross premiums written fell. In the three months to the end of March, pre-tax profit fell to $26.5m from $51.5m, while gross premiums written declined 5.5% to $230.8m. Lancashire said an increase in property pre
Read moreWednesday broker round-up
27th Apr 2016 15:32
(ShareCast News) - BP: Barclays reiterates overweight with a 550p target, Credit Suisse keeps at underperform with a target of 330p, Cannacord stays at buy with a 420p target and Exane BNP Paribas reiterates neutral with a target of 350p. Cambian Group: Canaccord downgrades to hold with a 91p target
Read moreLancashire Holdings secures $300m lending facility
29th Mar 2016 07:50
(ShareCast News) - Lancashire Holdings' fully-owned subsidiary Lancashire Insurance Co Ltd has entered into a new $300m (£211m) five-year letter of credit and credit facility with Lloyds and Barclays Bank as joint bookrunners. The letters of credit will be used to support obligations under reinsuran
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