SOURCE: Lancashire Holdings Limited

November 19, 2007 02:05 ET

Lancashire Holdings Limited - Appointment of Directors

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.


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