Lancashire Holdings Limited
Hamilton, Bermuda, 27th March 2007
LANCASHIRE ANNOUNCES MANAGEMENT PROMOTIONS
Lancashire Holdings Limited ("Lancashire Holdings"), which writes a diversified
mix of specialty insurance lines both catastrophe and non-catastrophe from twin
platforms in Bermuda and London, today announced three senior management
promotions.
Simon Burton is appointed as Deputy Chief Executive Officer of Lancashire
Holdings and as Chief Executive Officer and Chief Underwriting Officer of
Lancashire Insurance Company Limited, the Group's Bermuda underwriting platform.
Elaine Whelan is appointed Chief Financial Officer of Lancashire Insurance
Company Limited. The appointments are subject to Bermuda Department of
Immigration approval.
Paula Porter continues as Chief Executive Officer of the Group's UK underwriting
platform, Lancashire Insurance Company (UK) Limited, while Alex Maloney has
been appointed as its Chief Underwriting Officer.
Richard Brindle continues as Chief Executive Officer of Lancashire Holdings and
Chairman of the Group Underwriting Committee and Neil McConachie continues as
Chief Financial Officer of Lancashire Holdings.
Richard Brindle, Chief Executive Officer, commented: "Since joining Lancashire
in 2006, Simon Burton has demonstrated superior leadership and technical
underwriting qualities for the Group. Simon's new responsibilities are a
reflection of the Board's and my faith in his abilities. Alex Maloney and
Elaine Whelan likewise have worked tirelessly for the Group since its inception.
Their new responsibilities are recognition of the contribution each is making.
I congratulate all of them on their promotions."
"I am enjoying myself tremendously and I look forward to continuing with
Lancashire for the foreseeable future."
Bob Spass, Chairman of Lancashire Holdings, added: "These promotions are a
natural step in the evolution of the Lancashire Group. They reflect the fact
that, while headquartered in Bermuda, the addition of the underwriting platform
in London means the Group now writes its diversified mix of insurance products
across two major locations. The quality of the senior management team, as
reflected by these appointments, underpins the Board's confidence in the ability
of the Lancashire Group to consolidate its position as an established player in
its specialty markets."
For further information, please contact:
Lancashire Holdings +1 441 278 8950
Neil McConachie
Financial Dynamics +44 20 7269 7200
Rob Bailhache
Nick Henderson
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.lancashire.bm.
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
Lancashire Holdings Limited announces Senior Management Promotions
| Source: Lancashire Holdings Limited
Bermuda -- (MARKET WIRE) -- March 27, 2007 --