SOURCE: Lancashire Holdings Limited

March 20, 2007 03:03 ET

Lancashire Holdings Limited - DFSA Authorisation

Bermuda -- (MARKET WIRE) -- March 20, 2007 --


                     Lancashire Holdings Limited

Hamilton, Bermuda, 20th March 2007


                 LANCASHIRE MIDDLE EAST AUTHORISED

Lancashire Holdings Limited ("Lancashire" or "the Company") today announced that it's wholly-owned subsidiary Lancashire Marketing Services (Middle East) Limited ("Lancashire Middle East") has received authorisation from the Dubai Financial Services Authority ("DFSA") to conduct financial services business as an insurance intermediation firm in the Dubai International Financial Centre ("DIFC").

The new subsidiary, headed by recently appointed CEO John Melcon, will concentrate on marketing Lancashire's UK and Bermuda-based insurance subsidiaries more effectively and efficiently in the Middle East.

John Melcon, Chief Executive Officer, Lancashire Dubai, commented: "We have been pleased with the timely and professional manner with which the DFSA and the DIFC have processed our application and we are very excited about the long term potential our presence in the Middle East will bring to the Lancashire Group."

Richard Brindle, Chief Executive Officer, Lancashire Holdings Limited, added: "Operating from the DIFC, Lancashire Middle East will allow us to focus even more strongly on our core classes of business. John Melcon's considerable experience in the region will facilitate the Lancashire Group growing a solid book of business that will complement our existing underwriting."


For further information, please contact:

Lancashire Holdings                         +1 441 278 8950
Greg Lunn

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.



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