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Bermuda-based specialty insurer underwriting property, energy, marine and aviation risks, including via Lloyd's of London.
Bermuda-based specialty insurer underwriting property, energy, marine and aviation risks, including via Lloyd's of London.
Earns premiums less the claims it pays, plus investment returns on money held before claims fall due, so results swing with catastrophe losses. It writes more when prices rise and less when they fall, and returns spare capital to shareholders. Business arrives through brokers and is written from Bermuda and through Lloyd's syndicates.
In one line: A Bermuda specialty (re)insurer, akin to a smaller RenaissanceRe.
Moat: narrow (scale, brand, process know-how). Specialty underwriting expertise and Lloyd's market access in niche catastrophe-exposed lines.
Headquarters: Hamilton, Bermuda · Founded: 2005 · Employees: 447
Size Lancashire (LRE.L) is a United Kingdom Financials company (Property/Casualty Insurance) with a market value of $2.24B, the 153rd largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £686.00 on 6 Nov 2026.
Performance Over six months the shares gained 17.6%, against +19.6% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 8th lowest of 20 in its peer set.
Growth Revenue fell 1.6% over the last twelve months (peer median +11.8%); the operating margin is 17.8% (peer median 21.1%).
Valuation It trades at 1.49× book value against a peer median of 1.82× (7th cheapest of 21).
Price implies The share price implies a return on equity of about 12.7%; Lancashire delivers 21.8%, so the price asks less than the business earns today.
Next results Next results expected around 4 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | £1.52B | £1.54B | £1.50B | £1.31B | £1.04B |
| Revenue growth | — | +3% | +14% | +26% | — |
| Net income | £243M | £223M | £251M | £259M | -£12.6M |
| Free cash flow | £353M | £346M | £539M | £409M | £282M |
| Capital expenditure | £53.6M | £54.3M | £14.6M | £13.4M | £8.93M |
| Total debt | n/a | £355M | £375M | £370M | £390M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Lancashire LRE.L | $2.24B | +18% | -2% | 22% | 1.49× | 12.7% |
| RenaissanceRe RNR | $14.0B | +16% | -21% | 13% | 1.34× | 7.5% |
| Axis Capital AXS | $7.60B | +7% | +10% | 16% | 1.33× | 8.1% |
| Beazley BEZ.L | n/a | +3% | n/a | n/a | n/a | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | LRE.L | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +8.0% | -0.1% | 6th highest of 21 |
| 6-month return | +17.6% | +19.6% | 8th lowest of 20 |
| Return on equity | 21.8% | 21.0% | 10th highest of 20 |
| Price / book | 1.49× | 1.82× | 7th cheapest of 21 |
| Trailing P/E | 7.1× | 11.2× | 5th cheapest of 19 |
| ROE the price implies | 12.7% | 9.5% | 10th most demanding of 20 |
| ROE delivered | 21.8% | 21.0% | 9th highest of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Lancashire LRE.L | United Kingdom | $2.24B | +18% | -2% | 22% | 1.49× | 12.7% | 21.8% |
| Porch PRCH | United States | $2.26B | +80% | +20% | n/a | 345.11× | 5,821.2% | n/a |
| Hyundai M&F INS 001450.KS | South Korea | $2.29B | +38% | -5% | 21% | 0.51× | 4.2% | 21.0% |
| HCI HCI | United States | $2.31B | +22% | +23% | 34% | 2.15× | 17.3% | 33.8% |
| Horace Mann Educators HMN | United States | $2.16B | +20% | +4% | 12% | 1.46× | 7.9% | n/a |
| Kemper KMPR | United States | $1.97B | +10% | -4% | -19% | 0.90× | 9.4% | -19.3% |
| Zenkoku Hosho 7164.T | Japan | $2.69B | +1% | +2% | 14% | 1.74× | 6.2% | 14.1% |
| NMI NMIH | United States | $2.94B | 0% | +8% | 15% | 1.10× | 7.9% | 15.4% |
| SiriusPoint SPNT | United States | $3.06B | +12% | +23% | 23% | 1.34× | 9.5% | 23.1% |
| Safety Insurance SAFT | United States | $1.53B | +46% | +7% | 8% | 1.75× | 8.9% | 7.8% |
| Shinkong Insurance 2850.TW | Taiwan | $1.51B | +21% | +22% | 24% | 2.27× | 6.6% | 24.0% |
| Universal Insurance UVE | United States | $1.29B | +19% | +6% | 41% | 2.00× | 13.1% | 40.8% |
| Palomar PLMR | United States | $4.10B | +37% | +60% | 22% | 4.16× | 17.0% | 22.2% |
| United Fire UFCS | United States | $1.23B | -1% | +11% | 15% | 1.31× | 9.0% | 14.9% |
| Protector Forsikring PROT.OL | Norway | $4.19B | +4% | +12% | 35% | 5.34× | 18.1% | 35.2% |
| Accelerant ARX | United States | $4.32B | +19% | +55% | -380% | 6.01× | 23.2% | -380.1% |
| Ategrity Specialty Insurance ASIC | United States | $1.16B | +23% | +30% | 16% | 1.89× | 9.3% | 15.8% |
| Mercury General MCY | United States | $4.58B | -17% | +5% | 26% | 1.63× | 13.7% | 25.5% |
| Heritage Insurance HRTG | United States | $984M | +48% | +2% | 42% | 1.64× | 14.1% | 41.7% |
| Hippo HIPO | United States | $929M | +28% | +21% | 7% | 1.98× | 22.6% | 7.2% |
| Orion180 Insurance OIG | United States | $888M | n/a | +38% | 77% | 73.37× | n/a | n/a |