Lancashire Holdings Ltd (FRA:LNH)
€ 8.11 -0.1 (-1.22%) Market Cap: 1.95 Bil Enterprise Value: 1.74 Bil PE Ratio: 5.65 PB Ratio: 1.29 GF Score: 80/100
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Q3 2019 Lancashire Holdings Ltd Trading Statement Call Transcript

Nov 07, 2019 / 01:00PM GMT
Release Date Price: €7.8 (-2.26%)
Operator

Hello and welcome to the Lancashire Holdings Limited Third Quarter 2019 Results. (Operator Instructions) And please note, the call is being recorded. I will now hand the call over to your speaker, Alex Maloney, Group CEO. Please begin.

Alexander Terence Maloney
Lancashire Holdings Limited - Group CEO & Director

Thank you. Good afternoon, everyone. I'm pleased with the progress our group has made during the third quarter of 2019. We continue to witness an underwriting environment that is transitioning into the hardest stage of the pricing cycle. As this year has progressed, we have seen continued hardening in virtually all the classes of business which we underwrite. We would still categorize the current market as a hardening one, but not a hard market. The key point to consider is where the absolute rating levels and margins are for any class of business, as it is very easy just to focus on the headline rate increase. Therefore, our current premium growth is very much weighted towards our view of the current underwriting opportunity. We continue to see more

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