24th Mar 2006 14:44
Lancashire Holdings Limited24 March 2006 Lancashire Holdings Limited Ratings by A.M. Best Affirmed HAMILTON, Bermuda (24th March 2006) - Lancashire Holdings Limited ("Lancashire")today announced that A.M. Best Co. has affirmed the financial strength rating ofA- (Excellent) and the issuer credit rating (ICR) of "a-" of LancashireInsurance Company Limited. Concurrently, A.M. Best has affirmed the ICR of"bbb-" of Lancashire. All ratings have been removed from under review withnegative implications and assigned a stable outlook. A.M. Best placed the group's ratings under review on 15th March 2006 to assessthe impact on the business plan of the announced departure of J. Alex Richards,who was Retrocession Underwriter and Senior Vice President and the appointmentof Simon Burton, Deputy Chief Underwriting Officer and Bryan Bumsted, VicePresident and Retrocession Underwriter. Richard Brindle, Chief Executive Officer said, "We are very pleased that A.M.Best is satisfied with the appointments of Simon and Bryan and have affirmed ourratings." Simon Burton has now officially joined Lancashire Insurance Company Limited asDeputy Chief Underwriting Officer following clearance from the BermudaDepartment of Immigration. About Lancashire Lancashire Holdings Limited, through its operating subsidiary, LancashireInsurance Company Limited, is a Bermuda-based provider of reinsurance andinsurance. Lancashire Holdings Limited is admitted to AIM under the tickersymbol LRE. Contacts: Neil McConachie Chief Financial Officer +1 441 278 8950 Financial Dynamics Robert Bailhache +44 20 7269 7200 Nick Henderson +44 20 7269 7114 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Lancashire Holdings