Lancashire Holdings Ltd (LSE:LRE)
£ 6.59 0.02 (0.3%) Market Cap: 1.58 Bil Enterprise Value: 1.40 Bil PE Ratio: 5.63 PB Ratio: 1.28 GF Score: 79/100
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Q4 2019 Lancashire Holdings Ltd Earnings Call Transcript

Feb 13, 2020 / 01:00PM GMT
Release Date Price: £7.89 (+2.14%)
Operator

Hello, and welcome to the Lancashire Holdings Limited Fourth Quarter 2019 Results.

(Operator Instructions)

Please note, this call is being recorded. Today, I'm pleased to present Alex Maloney, Group CEO; Paul Gregory, Group CUO; Elaine Whelan, Group CFO. Please begin your meeting.

Alexander Terence Maloney
Lancashire Holdings Limited - Group CEO & Director

Okay. Thank you. Good morning, everyone. The Lancashire Group has produced a strong return for our shareholders during 2019. Notwithstanding another year of catastrophe loss events where we witnessed 3 cat losses in the second half of the year, we generated a return on equity of 14.1%. It's fair to say that we have, along with the rest of the industry, enjoyed buoyant investment markets. But we are particularly pleased with our underwriting return.

Our combined ratio of 80.9% is a measure of the quality of our underwriting portfolios. We continue to navigate a market that is finally hardening in virtually all classes of business, although we still do not believe we are seeing

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