27th Mar 2007 14:53
Lancashire Holdings Limited27 March 2007 Lancashire Holdings Limited Hamilton, Bermuda, 27th March 2007 LANCASHIRE ANNOUNCES MANAGEMENT PROMOTIONS Lancashire Holdings Limited ("Lancashire Holdings"), which writes a diversifiedmix of specialty insurance lines both catastrophe and non-catastrophe from twinplatforms in Bermuda and London, today announced three senior management promotions. Simon Burton is appointed as Deputy Chief Executive Officer of LancashireHoldings and as Chief Executive Officer and Chief Underwriting Officer ofLancashire Insurance Company Limited, the Group's Bermuda underwriting platform. Elaine Whelan is appointed Chief Financial Officer of Lancashire InsuranceCompany Limited. The appointments are subject to Bermuda Department ofImmigration approval. Paula Porter continues as Chief Executive Officer of the Group's UK underwritingplatform, Lancashire Insurance Company (UK) Limited, while Alex Maloney hasbeen appointed as its Chief Underwriting Officer. Richard Brindle continues as Chief Executive Officer of Lancashire Holdings andChairman of the Group Underwriting Committee and Neil McConachie continues asChief Financial Officer of Lancashire Holdings. Richard Brindle, Chief Executive Officer, commented: "Since joining Lancashirein 2006, Simon Burton has demonstrated superior leadership and technicalunderwriting qualities for the Group. Simon's new responsibilities are areflection of the Board's and my faith in his abilities. Alex Maloney andElaine 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 withLancashire for the foreseeable future." Bob Spass, Chairman of Lancashire Holdings, added: "These promotions are anatural step in the evolution of the Lancashire Group. They reflect the factthat, while headquartered in Bermuda, the addition of the underwriting platformin London means the Group now writes its diversified mix of insurance productsacross two major locations. The quality of the senior management team, as reflected by these appointments, underpins the Board's confidence in the abilityof the Lancashire Group to consolidate its position as an established player inits specialty markets." For further information, please contact: Lancashire Holdings +1 441 278 8950Neil McConachie Financial Dynamics +44 20 7269 7200Rob BailhacheNick Henderson 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 headquarteredat Mintflower 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.lancashire.bm. 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