Last checked at 16 Dec 2008 09:56
Lancashire Holdings Limited 16th December 2008Hamilton, Bermuda LANCASHIRE ANNOUNCES UNDERWRITING PROMOTIONS
Lancashire Holdings Limited ("Lancashire" or "the Company") today announced the following promotions in the underwriting team at the group and operating company levels.
At the Lancashire group level Alex Maloney becomes Group Underwriting Director.
In London at Lancashire Insurance Company (UK) Limited ("LUK"), Paul Gregory becomes Chief Underwriting Officer. Simon Thurgood has been promoted to Head of Terrorism, War and Political Risk. Reporting to Simon, Chris Wilkinson has been promoted to Underwriter, Terrorism, War and Political Risk. Clare Bailey has been appointed Head of Property.
Simon Fascione has been promoted to Underwriting Manager at Lancashire Insurance Company Limited ("LICL") in Bermuda. Simon will report to Charles Mathias, LICL's Chief Underwriting Officer.
All appointments are subject to obtaining the relevant regulatory and immigration approvals in Bermuda and London.
Richard Brindle, the Group Chief Executive Officer, commented:
"These appointments are a reflection of the faith we have in our people as we move into our fourth year of operation. Alex Maloney has been with us since Lancashire started in late 2005 and was formerly CUO of LUK. His diligence, enthusiasm and leadership qualities can now be fully brought to bear on the implementation of the Lancashire group underwriting strategy through the hardening market and beyond.
Paul Gregory has demonstrated leadership potential and he is welcomed to the management team at LUK. Clare Bailey's assumption of responsibility for the property book at LUK is an endorsement of our confidence in her. The promotions of Simon Thurgood and Chris Wilkinson are a reflection of the considerable success they have had in building LUK's presence in the terrorism, war and political risk arena.
Under Charles Mathias' experienced tutelage, Simon Fascione has emerged as a key bridge between Lancashire's underwriters and modelers. In his new role as Underwriting Manager at LICL we will be able to use Simon's grounding in the analytical side of the business to greater effect."
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.lancashiregroup.com.
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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