Last checked at 21 Nov 2008 10:50
Lancashire Holdings Limited 21 November 2008Hamilton, Bermuda
LANCASHIRE APPOINTS CHIEF EXECUTIVE AND EXECUTIVE CHAIRMAN FOR MIDDLE EAST
OPERATIONS
Lancashire Holdings Limited ("Lancashire" or "the Company") today announced the appointment of Giles Hussey as Director and Chief Executive Officer of the Company's Middle East marketing operations, Lancashire Marketing Services (Middle East) Limited based in Dubai ("Lancashire Middle East"). At the same time John Melcon becomes Executive Chairman of Lancashire Middle East.
Giles joins the Lancashire Group from Marsh & McLennan based in Dubai where, most recently as Marsh's Energy Practice Leader, he had responsibility for major Oil & Gas, Marine and Petrochemical clients from the Middle East & North Africa Region, including the Gulf Cooperation Council countries and Pakistan.
Giles has over 18 years of experience as a risk & insurance broker / consultant, focusing on the Marine & Energy sectors. This includes: 8 years working as a London insurance market placing broker with JLT; 4 years in South Africa where Giles had Africa region responsibility for Marsh's contract with a major oil company; 18 months leading Marsh's upstream energy client growth in Asia Pacific; and 5 years in the Middle East.
John, who joined Lancashire Middle East as CEO in 2007, will as Executive Chairman work closely with Giles in the continued execution of the Lancashire Middle East business plan. John has over 36 years of experience in the international insurance and reinsurance markets, including 8 years based in the Middle East, most recently as General Manager of Al Khazna Insurance Company in the United Arab Emirates. John, who also speaks fluent Arabic, will continue to be based in Dubai.
Richard Brindle, Chief Executive Officer, commented:
"We are delighted that Giles will be joining the Lancashire Group as CEO of Lancashire Middle East. Over the last 18 months John has single-handedly and tirelessly worked to grow a solid book of business for Lancashire in the region. Giles' joining will give us even more marketing firepower in the region; not to mention giving John a welcome new pair of helping hands. I have no doubt that the combination of Giles and John will enable Lancashire to develop its book of business from the region well beyond the excellent start that has been made."
For further information, please contact:
Lancashire Holdings Jonny Creagh-Coen +44 (0) 20 7264 4066 Greg Lunn +1 441 278 8953 Financial Dynamics +44 (0) 20 7269 7114 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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