Lancashire Holdings News

Lloyd’s Insurer Lancashire Holdings Raises US$352M to Target Hard Market Opportunities

Lancashire Holdings Ltd. has completed an equity capital raise of approximately £277 million (US$352 million) through the placement of new common shares. The Lloyd’s insurer said it intends to use the proceeds of the placing to fund organic growth and …

Insurer Lancashire to Use Lloyd’s EU Hub in Brussels After Brexit

Property and casualty insurer Lancashire Holdings Ltd will use insurance market Lloyd’s of London’s European Union hub in Brussels after Britain leaves the European Union, its top boss told Reuters. “We have negotiated with Lloyd’s and we will write businesses …

Lancashire Reports Q3 Loss of $136.4M on High Natural Catastrophe Claims

Lancashire Holdings Ltd reported a third-quarter pretax loss after what looks set to be the costliest quarter ever for insurers and reinsurers due to natural catastrophes, but said it was seeing some evidence of an increase in pricing. The property …

Lloyd’s Insurers’ Stocks Fall on Possible Claims from Hurricane Harvey

Lloyd’s of London insurers dropped amid speculation that they will suffer losses from Tropical Storm Harvey that’s battering Houston, the epicenter of the U.S. oil industry. The storm, which which made landfall as a category 4 hurricane and then drifted …

Waiting List for Insurers to Get Seats on Lloyd’s Underwriting Floor Hits Record

The waiting list for an insurer to get a spot on the underwriting floor of Lloyd’s of London is the longest in its 327-year history, indicating record demand for access to the market. Lloyd’s has requests for about 160 so-called …

Reinsurance Execs at Rendez-Vous Question Recent High-Priced M&As

Global reinsurance executives who met in Monaco questioned whether a frenzy of mergers in Europe means buyers of Lloyd’s of London insurance companies are paying too much. Deal-making will continue after Tokyo-based MS&AD Insurance Group Holdings Inc. agreed last week …

Woodford Investment Cashes in Amlin Stake After Record Takeover Offer

Neil Woodford cashed in his entire 107.5 million-pound ($166 million) stake in Amlin Plc after Tuesday’s takeover offer by a Japanese competitor sent the Lloyd’s of London insurer’s shares to a record high. The fund manager sold 16.4 million Amlin …

Amlin Deal Puts M&A Spotlight on 4 Remaining Publicly Traded Lloyd’s Insurers

Amlin Plc’s $5.3 billion takeover by a Japanese competitor has put the remaining four publicly traded Lloyd’s of London insurers in the spotlight for a possible takeover. Beazley Plc, Hiscox Ltd., Lancashire Holdings Ltd. and Novae Group Plc all rallied …

Lancashire’s CEO Maloney Dismisses Value of Merger with Larger Rival

Lancashire Holdings Ltd. Chief Executive Officer Alex Maloney dismissed suggestions the insurer would be better off combining with a larger competitor. “I don’t really buy the bigger is better thing,” Maloney said on a conference call with analysts Wednesday. “I …

Lancashire 1st Half Profit Drops 10% Amid ‘Pricing Pressures’ at Lloyd’s

Lancashire Holdings Ltd. reported a 10 percent fall in first-half profit amid “pricing pressure” in the Lloyd’s of London insurance market. The company said pretax profit decreased to $88.6 million in the six months through June, while gross written premiums …