Lancashire Group
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The 3.6 percent discount to the undisturbed share price is the narrowest of the recent stock issues by the London-listed specialty trio. -
The carrier joins Beazley, Hiscox and RenRe in tapping up markets to invest in growth.
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The Covid-19 impact on Swiss Re year-end shareholders' equity was 1.63 percent and on Lancashire’s 2.9 percent.
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Trapped capital will become an issue in the coming months, CEO of Lancashire Capital Management Darren Redhead said.
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The group’s Covid loss represents 2.9 percent of shareholders’ equity at year-end 2019 as it swerved contingency claims.
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The (re)insurer should benefit from profit commission later in the year, chief executive officer Darren Redhead said.
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The platform delivered $5.9mn in profit to Lancashire from its 10 percent stake in the funds.
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The change will bring the vehicle’s name and brand into line with the rest of the Lancashire Group, the company said.
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The growth contrasted with a 2 percent slide in collective assets among the top tier of ILS players.
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The increase suggests the Lancashire-owned firm has grown to $750mn of assets under management.
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Lancashire earned a $0.1mn profit from its 10 percent stake in the Kinesis funds.
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Firming market an opportunity for the growing ILS fund, according to the analysts.
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