Bermuda--(Marketwire - November 19, 2007) -
Lancashire Holdings Limited
Hamilton, Bermuda, 19 November 2007
APPOINTMENTS OF DIRECTORS
Lancashire Holdings Limited ("Lancashire") announces the appointment of Jens
Juul as an additional non-executive director of Lancashire and the appointment
of Simon Burton as an additional executive director of Lancashire. The
appointments were made on 16 November 2007.
Jens Juul
Jens Niklas Herman Stigson Juul, who is 58, has 29 years of international
reinsurance experience. He founded and managed subsidiaries for the Storebrand
Group in Latin America and Canada and was also the Chief Financial Officer of
their US subsidiary, Christiana General. In 1986 he moved to Bermuda where he
was the founding Chief Executive Officer of Scandinavian Re until his retirement
in 2002. He is also the Honorory Consul of Sweden in Bermuda.
Jens is currently a director of Rosemont Reinsurance Company and Catalina
Holdings Ltd. In the previous 5 years he has been a director of GHK First Equity
Fund.
Simon Burton
Simon Burton, age 37, is currently Deputy Chief Executive Officer of Lancashire
Holdings Limited and Chief Executive Officer and Chief Underwriting Officer of
Lancashire Insurance Company Limited, the Group's Bermuda underwriting
platform.
Simon joined Lancashire in March 2006 after 10 years at Financial Solutions
International, an underwriting division of the ACE Group of Companies. Prior to
joining ACE, Simon was a consulting actuary at Tillinghast-Towers Perrin in
London and Bermuda.
Simon is currently a director of Lancashire Insurance Company Limited. He
currently holds 240,000 common shares in Lancashire. He also has 800,000 options
awarded under Lancashire's Long Term Incentive Plan which have an exercise price
based on market value at the time of the award and 559,182 time-vesting warrants
and 482,932 performance-vesting warrants with an exercise price of $5.00 to
purchase Lancashire's shares.
Commenting on the appointments, Martin Thomas, Lancashire's Chairman, said "We
are delighted with Jens' and Simon's appointments. Jens' length of experience in
the insurance industry and in Bermuda and Simon's management and underwriting
roles within the group mean they will be excellent additions to the Board".
For further information, please contact:
Lancashire Holdings Limited +1 441 278 8950
Greg Lunn
Financial Dynamics +44 20 7269 7200
Rob Bailhache
Nick Henderson
Kekst & Company Inc.
Michael Herley +1 212 521 4897
Mark Semer +1 212 521 4802
About Lancashire
Lancashire, through its UK and Bermuda-based insurance subsidiaries, is a global
provider of specialty insurance products. Its insurance subsidiaries carry the
Lancashire group rating of A minus (Excellent) from A.M. Best with a stable
outlook. Lancashire has capital in excess of $1 billion dollars and its Common
Shares trade on AIM under the ticker symbol LRE. Lancashire is headquartered at
Mintflower Place, 8 Par-La-Ville Road, Hamilton HM 08, Bermuda. The mailing
address is Lancashire Holdings Limited, P.O. Box HM 2358, Hamilton HM HX,
Bermuda. For more information on Lancashire, visit the company's website at
www.lancashiregroup.com.
NOTE REGARDING FORWARD-LOOKING STATEMENTS
CERTAIN STATEMENTS MADE IN THIS ANNOUNCEMENT THAT ARE NOT BASED ON CURRENT OR
HISTORICAL FACTS ARE FORWARD-LOOKING IN NATURE INCLUDING, WITHOUT LIMITATION,
STATEMENTS CONTAINING WORDS 'BELIEVES', 'ANTICIPATES', 'PLANS', 'PROJECTS',
'INTENDS', 'EXPECTS', 'ESTIMATES', 'PREDICTS', 'MAY','WILL', 'SEEKS', 'SHOULD'
OR, IN EACH CASE, THEIR NEGATIVE OR COMPARABLE TERMINOLOGY. ALL STATEMENTS
OTHER THAN STATEMENTS OF HISTORICAL FACTS INCLUDING, WITHOUT LIMITATION, THOSE
REGARDING THE GROUP'S FINANCIAL POSITION, RESULTS OF OPERATIONS, LIQUIDITY,
PROSPECTS, GROWTH, BUSINESS STRATEGY, PLANS AND OBJECTIVES OF MANAGEMENT FOR
FUTURE OPERATIONS (INCLUDING DEVELOPMENT PLANS AND OBJECTIVES RELATING TO THE
GROUP'S INSURANCE BUSINESS) ARE FORWARD-LOOKING STATEMENTS. SUCH FORWARD-
LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER
IMPORTANT FACTORS THAT COULD CAUSE THE ACTUAL RESULTS, PERFORMANCE OR
ACHIEVEMENTS OF THE GROUP TO BE MATERIALLY DIFFERENT FROM FUTURE RESULTS,
PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING
STATEMENTS. THESE FORWARD-LOOKING STATEMENTS SPEAK ONLY AS AT THE DATE OF THIS
ANNOUNCEMENT OR OTHER INFORMATION CONCERNED. LANCASHIRE HOLDINGS LIMITED
EXPRESSLY DISCLAIMS ANY OBLIGATION OR UNDERTAKING (SAVE AS REQUIRED TO COMPLY
WITH ANY LEGAL OR REGULATORY OBLIGATIONS (INCLUDING THE AIM RULES)) TO
DISSEMINATE ANY UPDATES OR REVISIONS TO ANY FORWARD-LOOKING STATEMENTS
CONTAINED HEREIN TO REFLECT ANY CHANGES IN THE GROUP'S EXPECTATIONS WITH REGARD
THERETO OR ANY CHANGE IN EVENTS, CONDITIONS OR CIRCUMSTANCES ON WHICH ANY SUCH
STATEMENT IS BASED.
This information is provided by RNS
The company news service from the London Stock Exchange