|Bid||708.00 x 15600|
|Ask||709.50 x 73800|
|Day's Range||695.50 - 723.50|
|52 Week Range||505.00 - 731.00|
|Beta (3Y Monthly)||0.59|
|PE Ratio (TTM)||37.91|
|Earnings Date||Jul 25, 2019|
|Forward Dividend & Yield||0.15 (2.15%)|
|1y Target Est||8.11|
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Lancashire, which insures everything from ships and aircraft to damages from terrorism and war, said on Wednesday that gross written premiums rose 0.6 percent to $217.2 million (£166.4 million) in the quarter ended March 31. "The claims environment was relatively benign, with no new major net losses in the quarter," the company said. Lancashire's stable results come after the insurer swung to a profit in 2018, when the industry got some relief after facing record insurance losses in 2017 from notable hurricanes, typhoon and wildfires.
By buying an index fund, you can roughly match the market return with ease. But many of us dare to dream of bigger returns, and build a portfolio ourselves. ForRead More...
The reinsurance fund, set up in 1993, acts as a backstop to insurers paying out claims on property damage and business interruption. The bond, the first of its kind globally and oversubscribed by capital markets, covers physical damage from chemical, biological, radiological and nuclear and cyber attacks, Pool Re said.
"We have negotiated with Lloyd's and we will write businesses that are affected by Brexit through our Lloyd's platform, through Lloyd's Brussels ... That is a great solution for us," Chief Executive Officer Alex Maloney said. Lloyd's, which covers risks from oil rigs to soccer stars' legs, has said it would launch a Brussels unit to continue serving its customers in the European Economic Area after Brexit.
The Lloyd's of London insurer, which writes policies for heavy-duty assets such as oil rigs, ships and aircraft, reported profit before tax of $33.6 million (26 million pounds) for the year ended Dec.31, compared with a loss of $72.9 million a year earlier. Gross written premiums rose 7.9 percent to $638.5 million for the year, and the company's combined ratio - a measure of underwriting profitability - improved to 92.2 percent from 124.9 percent last year. A level below 100 percent indicates an underwriting profit.
Pricing LRE, a financial stock, can be difficult since these insurance businesses have cash flows that are affected by regulations that are not imposed upon other sectors. For example, insurance Read More...
The moon is increasingly seen as a national security issue, with countries including the U.S. and China, as well as a number of private firms, honing in on its strategic location and large deposits of critical minerals and water. Morgan Stanley’s analysts dubbed China’s recent landing on the far side of the moon a “Sputnik moment” for the U.S., and said the event is likely to spur investment in the new space economy.
Reinsurance prices, chiefly set in two batches at the beginning of January and July, have fallen in recent years as traditional reinsurers face competition from new players and products such as catastrophe bonds. JLT Re said rate increases were restricted to categories which had suffered substantial losses or where performance had worsened. "Despite another active catastrophe year in the United States, property-catastrophe rate changes were modest," said Ed Hochberg, chief executive officer of JLT Re in North America.
JLT Re's global property-catastrophe reinsurance index fell 1.2 percent at the key Jan. 1 policy renewal season, the broker said on Wednesday, dashing the industry's hopes of higher reinsurance premiums after the second straight year of big losses. Reinsurance prices have fallen in recent years as traditional reinsurers face competition from new players and products such as catastrophe bonds, but industry giants were hoping for higher rates after facing the most costly quarter on record in 2017. "Despite another active catastrophe year in the United States, property-catastrophe rate changes were modest," said Ed Hochberg, chief executive officer of JLT Re in North America.
The FTSE 100 (.FTSE) top share index was up 1.3 percent at the close with gains in mining stocks and big exporters helping it outperform the domestically tilted FTSE 250 (.FTMC) index, which gained 0.9 percent after hitting two-year lows on Monday. Trading turned volatile towards the close after reports said lawmakers had enough letters to trigger a no-confidence vote in Prime Minister Theresa May's leadership, hours after German leader Angela Merkel ruled out further negotiations on Brexit. "It's virtually impossible to predict the outcome but we take a relatively neutral stance," said Nigel Bolton, chief investment officer of international equities at BlackRock.