19th Nov 2007 07:02
Lancashire Holdings Limited19 November 2007 Lancashire Holdings Limited Hamilton, Bermuda, 19 November 2007 APPOINTMENTS OF DIRECTORS Lancashire Holdings Limited ("Lancashire") announces the appointment of JensJuul as an additional non-executive director of Lancashire and the appointmentof Simon Burton as an additional executive director of Lancashire. Theappointments were made on 16 November 2007. Jens Juul Jens Niklas Herman Stigson Juul, who is 58, has 29 years of internationalreinsurance experience. He founded and managed subsidiaries for the StorebrandGroup in Latin America and Canada and was also the Chief Financial Officer oftheir US subsidiary, Christiana General. In 1986 he moved to Bermuda where hewas the founding Chief Executive Officer of Scandinavian Re until his retirementin 2002. He is also the Honorory Consul of Sweden in Bermuda. Jens is currently a director of Rosemont Reinsurance Company and CatalinaHoldings Ltd. In the previous 5 years he has been a director of GHK First EquityFund. Simon Burton Simon Burton, age 37, is currently Deputy Chief Executive Officer of LancashireHoldings Limited and Chief Executive Officer and Chief Underwriting Officer ofLancashire Insurance Company Limited, the Group's Bermuda underwriting platform. Simon joined Lancashire in March 2006 after 10 years at Financial SolutionsInternational, an underwriting division of the ACE Group of Companies. Prior tojoining ACE, Simon was a consulting actuary at Tillinghast-Towers Perrin inLondon and Bermuda. Simon is currently a director of Lancashire Insurance Company Limited. Hecurrently holds 240,000 common shares in Lancashire. He also has 800,000 optionsawarded under Lancashire's Long Term Incentive Plan which have an exercise pricebased on market value at the time of the award and 559,182 time-vesting warrantsand 482,932 performance-vesting warrants with an exercise price of $5.00 topurchase Lancashire's shares. Commenting on the appointments, Martin Thomas, Lancashire's Chairman, said "Weare delighted with Jens' and Simon's appointments. Jens' length of experience inthe insurance industry and in Bermuda and Simon's management and underwritingroles within the group mean they will be excellent additions to the Board". For further information, please contact: Lancashire Holdings Limited +1 441 278 8950Greg Lunn Financial Dynamics +44 20 7269 7200Rob BailhacheNick Henderson Kekst & Company Inc.Michael Herley +1 212 521 4897Mark Semer +1 212 521 4802 About Lancashire Lancashire, through its UK and Bermuda-based insurance subsidiaries, is a globalprovider of specialty insurance products. Its insurance subsidiaries carry theLancashire group rating of A minus (Excellent) from A.M. Best with a stableoutlook. Lancashire has capital in excess of $1 billion dollars and its CommonShares trade on AIM under the ticker symbol LRE. Lancashire is headquartered atMintflower Place, 8 Par-La-Ville Road, Hamilton HM 08, Bermuda. The mailingaddress is Lancashire Holdings Limited, P.O. Box HM 2358, Hamilton HM HX,Bermuda. For more information on Lancashire, visit the company's website atwww.lancashiregroup.com. NOTE REGARDING FORWARD-LOOKING STATEMENTS CERTAIN STATEMENTS MADE IN THIS ANNOUNCEMENT THAT ARE NOT BASED ON CURRENT ORHISTORICAL 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 STATEMENTSOTHER 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 FORFUTURE OPERATIONS (INCLUDING DEVELOPMENT PLANS AND OBJECTIVES RELATING TO THEGROUP'S INSURANCE BUSINESS) ARE FORWARD-LOOKING STATEMENTS. SUCH FORWARD-LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHERIMPORTANT FACTORS THAT COULD CAUSE THE ACTUAL RESULTS, PERFORMANCE ORACHIEVEMENTS OF THE GROUP TO BE MATERIALLY DIFFERENT FROM FUTURE RESULTS,PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKINGSTATEMENTS. THESE FORWARD-LOOKING STATEMENTS SPEAK ONLY AS AT THE DATE OF THISANNOUNCEMENT OR OTHER INFORMATION CONCERNED. LANCASHIRE HOLDINGS LIMITEDEXPRESSLY DISCLAIMS ANY OBLIGATION OR UNDERTAKING (SAVE AS REQUIRED TO COMPLYWITH ANY LEGAL OR REGULATORY OBLIGATIONS (INCLUDING THE AIM RULES)) TODISSEMINATE ANY UPDATES OR REVISIONS TO ANY FORWARD-LOOKING STATEMENTSCONTAINED HEREIN TO REFLECT ANY CHANGES IN THE GROUP'S EXPECTATIONS WITH REGARD THERETO OR ANY CHANGE IN EVENTS, CONDITIONS OR CIRCUMSTANCES ON WHICH ANY SUCHSTATEMENT IS BASED. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Lancashire Holdings