Lancashire Holdings Limited – planned underwriting and actuarial changes

Lancashire Holdings Limited – planned underwriting and actuarial changes

Lancashire Holdings Limited (“LHL”) has today announced the appointment of James Irvine as the Chief Underwriting Officer for Lancashire Insurance Company Limited in Bermuda (“LICL”) with effect from 1 October 2018 (subject to immigration and regulatory approvals).

LHL has also today announced the appointment of Ben Readdy as the Group Chief Actuary for LHL with effect from 1 January 2019 (subject to immigration and regulatory approvals).

James and Ben replace Sylvain Perrier, who has held the positions of Chief Underwriting Officer for LICL and Group Chief Actuary since March 2013 and March 2006 respectively.  Sylvain has been with the group since its inception and was instrumental in building the group’s actuarial function.  Sylvain will continue to work as the Group Chief Actuary until 1 January 2019, and then will continue working for the group in a strategic consultancy role from that date.

James joined Lancashire in April 2010 and is currently LICL’s Deputy Chief Underwriting Officer in Bermuda with responsibility for LICL’s property reinsurance portfolio.  In his new role as Chief Underwriting Officer for LICL, he will report to LHL’s Chief Underwriting Officer, Paul Gregory.

Ben joined Lancashire in June 2010 and is currently Deputy Group Chief Actuary.

Commenting on the appointments, LHL’s Chief Underwriting Officer, Paul Gregory, said:- “I would like to congratulate James and Ben on their well-deserved promotions. James has played a key role in the development of LICL’s business and underwriting strategy and will continue to uphold our very high standards of underwriting discipline, client service and risk management. Ben has played an important part in the development and management of the group’s actuarial functions and I know will continue to bring insight and rigour to his new role. Finally, I would also like to thank Sylvain for all his hard work and support in the roles to date, and I look forward to continuing to work with him as a consultant to the group going forward.”

For further information, please contact:

About Lancashire

Lancashire, through its UK and Bermuda-based operating subsidiaries, is a global provider of specialty insurance and reinsurance products. The Group companies carry the following ratings:

^{(1) Financial Strength Rating and Financial Strength Outlook apply to Lancashire Insurance Company Limited and Lancashire Insurance Company (UK) Limited.}

^{(2) Long Term Issuer Rating applies to Lancashire Holdings Limited.}

Cathedral benefits from Lloyd’s ratings: A.M. Best: A (Excellent); S&P Global Ratings: A+ (Strong); and Fitch: AA- (Very Strong).

Lancashire has capital in excess of $1.4 billion and its common shares trade on the premium segment of the Main Market of the London Stock Exchange under the ticker symbol LRE. Lancashire has its corporate headquarters and mailing address at 29th Floor, 20 Fenchurch Street, London EC3M 3BY, United Kingdom and its registered office at Power House, 7 Par-la-Ville Road, Hamilton HM 11, Bermuda.

For more information on Lancashire and Lancashire’s subsidiary and Lloyd’s segment, Cathedral Capital Limited (“Cathedral”), visit Lancashire’s website at www.lancashiregroup.com

The UK Prudential Regulation Authority (“PRA”) is the Group Supervisor of the Lancashire Group.

Lancashire Insurance Company Limited is regulated by the Bermuda Monetary Authority (“BMA”) in Bermuda.

Lancashire Insurance Company (UK) Limited is authorised by the PRA and regulated by the Financial Conduct Authority (“FCA”) and the PRA in the UK.

Kinesis Capital Management Limited is regulated by the BMA in Bermuda.

Cathedral Underwriting Limited is authorised by the PRA and regulated by the FCA and the PRA in the UK. It is also authorised and regulated by Lloyd’s.

This release contains information, which may be of a price sensitive nature, that Lancashire is making public in a manner consistent with the EU Market Abuse Regulation and other regulatory obligations. The information was submitted for publication, through the agency of the contact persons set out above, at 7:00am on 10 September 2018.