Numis upgrades Lancashire to buy on share weakness

Numis analyst Nick Johnson has advised investors to increase
their holdings in London-listed Lancashire after the carrier's
stock fell dramatically in the wake of high profile exits from its
Lloyd's subsidiary Cathedral.
While Johnson recognised the concerns surrounding the departure
of Cathedral's CEO, CFO and a quartet of senior underwriters,
the current valuation "more than compensated" for the
risk of any earnings per share impact, he said.
Lancashire's share price has fallen by 20 percent s