Fannie Mae, Freddie Mac shares tumble after conservatorship comments
Investing.com -- Lancashire Holdings (LON:LRE), a London-listed insurance company, has estimated on Thursday its net losses from the wildfires in California last month to be between $145 million and $165 million.
Despite this financial setback, Lancashire Holdings has affirmed that it remains well prepared and sufficiently capitalized to continue pursuing its strategic goals.
The company has also highlighted its comprehensive reinsurance coverage, designed to safeguard against the frequency of large-scale disaster events.
This coverage is expected to enable Lancashire to deliver a promising return for its shareholders by 2025.
Looking ahead, Lancashire Holdings plans to provide additional updates on its outlook for the upcoming year. This update will be disclosed alongside the company’s 2024 results, which are scheduled for release in March.
The company remains committed to transparency in its operations and financial reporting, ensuring that shareholders and potential investors are well-informed about its performance and future plans.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.