Alex Maloney
Group CEO
Replay available
Lancashire Holdings Limited (LRE) Q4 2025 Earnings Call
Lancashire Holdings Limited (LSE: LRE) Q4 2025 earnings conference call, held 2026-03-05. Replay captured from the company's public earnings webcast.
Hosted by
Featured presenters
Paul Gregory
Group CEO
Natalie Kershaw
Group CFO
Kamran Hussain
Analyst at JP Morgan
Joseph Tans
Analyst
Abid Hussain
Analyst at Premier Liberum
Ben Cohen
Analyst at RBC Capital Markets
Shanti Kang
Analyst at Bank of America
Investor webinar replay
Watch the replay and follow the connected company analysis, news, and investor updates for Lancashire Holdings Limited.
Replay transcript excerpt
WEBVTT 00:00:00.790 -- 00:00:06.177 Hello and welcome to the Lancashire Holdings Limited full-year 2025 00:00:06.177 -- 00:00:11.344 results conference call. Throughout the call, all participants will be in listen-only 00:00:11.344 -- 00:00:15.209 mode and afterwards there will be a question and answer session. 00:00:15.209 -- 00:00:20.416 On the call today, we have Alex Maloney, Group CEO, Natalie 00:00:20.416 -- 00:00:25.443 Kershaw, Group CFO, and Paul Gregory, Group CEO. 00:00:25.443 -- 00:00:30.227 I will now hand the call over to Alex. Please go ahead with your meeting. 00:00:31.739 -- 00:00:36.586 Thank you operator. Good afternoon everyone and thank you for joining our call today. 00:00:36.586 -- 00:00:41.153 It's our usual approach and I will give some highlights on the progress of our business, 00:00:41.153 -- 00:00:45.580 Paul will focus on the underwriting trends, Natalie will cover financials and then we 00:00:45.580 -- 00:00:48.301 will go to Q&A. 00:00:49.025 -- 00:00:52.570 Lancashire today is a stronger and more balanced franchise. 00:00:52.570 -- 00:00:57.658 Whilst our DNA remains the same, 2025 was a year that demonstrated the strength 00:00:57.658 -- 00:01:03.397 and durability of our model, one that blends disciplined underwriting, 00:01:03.397 -- 00:01:07.840 active cycle management, and efficient capital management. 00:01:08.723 -- 00:01:13.108 Against the year that started with the California wildfires, one of the largest catastrophe 00:01:13.108 -- 00:01:18.694 losses the business has ever faced, we delivered another set of resilient results. 00:01:18.694 -- 00:01:22.917 We delivered an undiscounted combined ratio of 93.1%, 00:01:22.939 -- 00:01:29.148 an investment return of 7%, and most importantly, an ROE of nearly 21%. 00:01:29.148 -- 00...