Lancashire Holdings Limited LCSHY

FinancialsInsuranceBermuda

Last close 16.00 USD on Nov 1, 2026, 0.0% year to date

Quant rating

Quant rating D Rank 270 of 304 in Financials

Growth D 230 of 304
Valuation B 113 of 304
Quality D 234 of 304
Revisions D 253 of 304
Momentum D 217 of 304

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 2.2B
Enterprise value: 2.1B
52-week range: 16.00 – 16.55
3-year range: 16.00 – 16.55
Dividend yield: 9.12%
Beta (5 years): –
Shares outstanding: 244M
Next earnings: Nov 6, 2026

About the company

Lancashire Holdings Limited is a provider of global specialty insurance and reinsurance products, operating in Bermuda, London, the United States, and Australia. It operates through two segments: reinsurance and insurance. The reinsurance segment includes casualty reinsurance, property reinsurance and specialty reinsurance. Casualty reinsurance comprises casualty, professional and financial lines, and accident and health reinsurance. Property reinsurance comprises catastrophe-exposed reinsurance classes as well as excess loss risk and other property treaty portfolios. Specialty reinsurance comprises reinsurance offerings for classes, such as aviation, marine and energy, as well as property retrocession portfolios. The insurance segment includes aviation insurance, casualty insurance, energy and marine insurance, property insurance and specialty insurance. Casualty insurance comprises accident and health insurance subclasses and a small amount of professional lines insurance.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	–	–	–	–	–	5Y avg
Revenue (mil)	1,840	1,576	1,081	1,143	718	–
Revenue growth	16.7%	45.8%	−5.4%	59.0%	44.4%	29.9%
EPS (basic, normalized)	–	–	–	–	–	–
EPS growth	–	–	–	–	–	–
Gross margin	–	–	–	–	–	–
Net margin	15.0%	19.0%	27.2%	−1.3%	−7.9%	10.4%
ROE	–	–	–	–	–	–

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Current ratio	–
Long-term debt (mil)	–
Net debt (mil)	–
Total equity (mil)	–
Net debt / equity	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			Book value per share			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	P/B	Mean est.	Growth	P/E
– actual	1,840	+16.7%	1.1x	–	–	–	–	–	–

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
FY1	–	–	–	–	–	–	–	–
FY2	–	–	–	–	–	–	–	–
FY3	–	–	–	–	–	–	–	–

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
	FQ-9	FQ-8	FQ-7	FQ-6	FQ-5	FQ-4	FQ-3	FQ-2	FQ-1	FQ0
Sales reported (mil)	–	–	–	–	–	–	–	–	–	–
Sales mean (mil)	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–
EPS reported	–	–	–	–	–	–	–	–	–	–
EPS mean	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–

FQ0 is the most recent reported quarter, FQ-1 the one before, and so on.

Peer comparison Insurance

Peers in the same industry group, by market capitalization
Company	Market cap	ROE	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 P/B	FY2 P/B
LCSHY Lancashire Holdings Limited	2.2B	–	15.0%	1.50x	–	–	–	–
BHF Brighthouse Financial, Inc.	2.5B	27.6%	4.9%	0.39x	2.2x	2.1x	0.3x	0.3x
HCI Hci Group Inc	2.5B	42.5%	31.9%	2.28x	9.6x	10.2x	2.0x	1.8x
PLGO Pelagos Insurance Capital Ltd	2.2B	8.5%	9.1%	0.98x	8.6x	6.5x	0.9x	0.8x
KMPR Kemper Corporation	2.0B	8.2%	3.0%	0.89x	16.1x	8.2x	0.9x	0.8x
ZZHGY ZhongAn Online P & C Insurance Co., Ltd.	1.9B	7.8%	3.0%	0.48x	7.0x	7.6x	0.5x	0.4x
Mean		18.9%	11.1%	1.09x	8.7x	6.9x	0.9x	0.8x
Median		8.5%	7.0%	0.94x	8.6x	7.6x	0.9x	0.8x

Technical analysis

1M–
3M0.0%
1Y−3.3%
3Y−3.3%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Lancashire Holdings Limited, fiscal years, most recent first
	–	–	–	–	–	–
Premiums earned	1,840	1,576	1,081	1,143	718	498
Other revenue	124	123	111	−64.0	21.8	51.6
Total revenue	1,964	1,699	1,192	1,079	740	549
Losses, benefits and adjustments	1,451	1,186	696	995	470	284
Amortization of policy acquisition costs	–	–	–	–	157	115
Selling, general & administrative expenses	115	89.5	85.7	42.4	11.1	12.3
Interest expense (income), operating	33.8	33.0	31.6	29.2	29.6	19.2
Other operating expenses	59.6	53.7	46.3	29.8	129	113
Operating income	305	337	333	−17.3	−56.8	5.9
Net interest income (expense)	–	–	–	–	–	–
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0	0	0	0	0	0
Net income before taxes	305	337	333	−17.3	−56.8	5.9
Provision for taxes	10.7	14.3	8.7	−2.9	1.4	0
Minority interest	–	–	–	–	−0.6	−0.3
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	294	322	324	−14.4	−58.8	5.6
Extraordinary items	−0.8	−1.1	−2.5	−1.1	−3.4	−1.4
Net income	293	321	322	−15.5	−62.2	4.2
Basic weighted average shares (mil)	242	240	239	240	242	224
Diluted weighted average shares (mil)	250	247	244	240	242	227
Basic EPS, normalized	–	–	–	–	–	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Lancashire Holdings Limited, fiscal years, most recent first
	–	–	–	–	–	–
Assets
Total receivables	–	–	–	–	–	58.4
Prepaid expenses	–	–	–	–	–	–
Property, plant & equipment	30.9	24.9	29.1	21.4	14.2	16.8
Goodwill	71.2	71.2	71.2	71.2	–	71.2
Intangibles	182	126	110	101	158	83.3
Insurance receivables	–	–	–	–	–	372
Long-term investments	3,106	2,866	2,462	2,236	2,168	1,901
Note receivable	102	20.5	58.4	31.1	18.8	–
Other long-term assets	–	–	–	–	–	–
Deferred policy acquisition costs	–	–	–	–	–	89.0
Other assets	751	587	414	514	334	526
Total assets	4,804	4,380	3,902	3,524	3,210	3,550
Liabilities
Accounts payable	–	–	–	–	–	–
Payable/accrued	–	–	–	–	–	–
Accrued expenses	–	–	–	–	–	–
Policy liabilities	2,712	2,300	1,824	1,674	1,302	1,585
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	4.7	4.9	3.2	2.2	–	2.8
Long-term debt	472	464	468	467	464	346
Minority interest	–	–	0	0	0.5	0.4
Other liabilities	105	117	98.8	54.9	50.6	78.1
Total liabilities	3,295	2,887	2,394	2,198	1,817	2,012
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	122	122	122	122	122	122
Additional paid-in capital	–	–	–	–	–	1,189
Retained earnings (accumulated deficit)	1,396	1,392	1,416	1,238	1,290	215
Treasury stock	−8.7	−20.5	−29.7	−34.0	−18.1	−21.2
Other equity	0	0	0	0	0	33.6
Total equity	1,509	1,493	1,508	1,326	1,393	1,538
Total liabilities & shareholders' equity	4,804	4,380	3,902	3,524	3,210	3,550

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Lancashire Holdings Limited, fiscal years, most recent first
	–	–	–	–	–	–
Operating activities
Net income	305	337	333	−2.8	−56.8	5.9
Depreciation, depletion & amortization	10.3	7.5	4.5	3.1	3.3	3.3
Deferred taxes	–	–	–	–	–	–
Non-cash items	−181	−138	−128	−11.6	27.4	−19.3
Changes in working capital	194	367	232	335	270	91.0
Cash from operations	328	574	442	324	244	80.9
Investing activities
Capital expenditures	−3.6	−7.4	−16.6	−11.0	−3.9	0
Other investing cash flows	−130	−244	−37.7	−184	−183	−260
Cash from investing	−134	−252	−54.3	−195	−187	−260
Financing activities
Financing cash flow items	−30.9	−27.9	−26.3	−27.7	−25.7	−17.2
Cash dividends paid	−296	−354	−155	−36.2	−36.4	−32.3
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−6.0	−4.0	−3.8	−26.9	94.9	337
Cash from financing	−333	−386	−185	−90.8	32.8	287
Foreign exchange effects	16.1	−8.4	5.9	−7.0	−4.5	3.9
Net change in cash	−123	−72.6	208	31.1	85.3	112
Free cash flow	324	566	425	313	240	80.9

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.