REG-Lancashire Holdings Ltd: Non-Executive Director Appointment and Lancashire Board Chair Succession Planning

Lancashire HoldingsAnnouncement

09/11/2023 07:15

LANCASHIRE HOLDINGS LIMITED

9th November 2023

Hamilton, Bermuda

Lancashire Holdings Limited (“Lancashire”/“LHL”) - Non-Executive
Director Appointment and Lancashire Board Chair Succession Planning

Lancashire announces the appointment of Philip Broadley as a Non-Executive
Director of LHL with effect from 8 November 2023.  Mr Broadley has also been
appointed as the LHL Chair designate, and Lancashire expects his appointment
as Chair to take effect immediately following Lancashire’s 2024 AGM to be
held on 1 May 2024 (“the 2024 AGM”), subject to shareholder approval.

Peter Clarke, who has served as Chair of Lancashire since 2016, has recently
completed nine years’ service as a Director on the Lancashire Board. In
accordance with recommended governance practice, Peter Clarke will therefore
step down from his roles as Chair and Non-Executive Director following the
2024 AGM.

Mr. Broadley is Senior Independent Director and Audit Committee Chair at
AstraZeneca PLC and a Non-Executive Director of Legal & General Group Plc and
is expected to continue in those roles.  Mr. Broadley began his career at
Arthur Andersen in 1983, becoming a partner in 1993, where he specialised in
auditing banks and insurance companies. Mr. Broadley was Group Finance
Director at both Prudential plc from 2000 and at Old Mutual plc from 2008
until 2014. He has served as Chair of the 100 Group of Finance Directors and
as a member of the Code Committee of The Takeover Panel.  He chaired the
Group Audit Committee of Legal & General for six years. He is Treasurer of the
London Library and Chair of the Board of Governors at Eastbourne College.

The search for a Chair successor was led by Robert Lusardi, Lancashire’s
Senior Independent Director.  The appointment process was conducted through
Lancashire’s Nomination Corporate Governance and Sustainability Committee
and approved by the LHL Board.  

Peter Clarke said:

“I am delighted to welcome Philip to the Lancashire Group. Philip will bring
a wealth of strategic and leadership skills to our Board.  He joins
Lancashire at an exciting time, with great opportunities for profitable growth
ahead.  I look forward to working closely with Philip and Alex in planning
the transition in the Chair role over the coming months.”
 

Alex Maloney, Lancashire Group Chief Executive Officer, said:

“We are delighted to announce Philip’s appointment as a Non-Executive
Director, and to welcome him to the Lancashire Group. Philip’s extensive
financial services and insurance experience will add great value to our Board,
and I look forward to working with him in his role as Chair in due
course.”     

Philip Broadley said:

“Lancashire is in a period of robust growth in a strong market environment.
 I join a business which is in very good hands.  I am extremely pleased to
accept my appointment to the Board.  I look forward to working with Alex and
all my colleagues at Lancashire and to leading the LHL Board as Chair
following the 2024 AGM.”

Lancashire has been notified that there are no further details required to be
disclosed with respect to the above, pursuant to paragraph 9.6.13R of the
Listing Rules.

For further information, please contact:

 Lancashire Holdings Limited  +44 20 7264 4145                         
  Christopher Head             chris.head@lancashiregroup.com          
 Jelena Bjelanovic            +44 20 7264 4066                         
                               jelena.bjelanovic@lancashiregroup.com   

About Lancashire

Lancashire, through its UK and Bermuda-based operating subsidiaries, is a
provider of global specialty insurance and reinsurance products.

Lancashire’s common shares trade on the premium segment of the Main Market
of the London Stock Exchange under the ticker symbol LRE. Lancashire has its
head office and registered office at Power House, 7 Par-la-Ville Road,
Hamilton HM 11, Bermuda.

The Bermuda Monetary Authority is the Group Supervisor of the Lancashire
Group.

For more information, please visit Lancashire’s website at
www.lancashiregroup.com .

This release contains information which may be of a price sensitive nature
that Lancashire is making public in a manner consistent with the UK Market
Abuse Regulation and other regulatory obligations. The information was
submitted for publication, through the agency of the contact persons set out
above, at 07:05 GMT on 9 November 2023.

NOTE REGARDING FORWARD-LOOKING STATEMENTS:

ALL FORWARD-LOOKING STATEMENTS IN THIS ANNOUNCEMENT OR OTHERWISE SPEAK ONLY AS
AT THE DATE OF PUBLICATION. LANCASHIRE EXPRESSLY DISCLAIMS ANY OBLIGATION OR
UNDERTAKING (SAVE AS REQUIRED TO COMPLY WITH ANY LEGAL OR REGULATORY
OBLIGATIONS INCLUDING THE RULES OF THE LONDON STOCK EXCHANGE) TO DISSEMINATE
ANY UPDATES OR REVISIONS TO ANY FORWARD-LOOKING STATEMENT TO REFLECT ANY
CHANGES IN THE GROUP’S EXPECTATIONS OR CIRCUMSTANCES ON WHICH ANY SUCH
STATEMENT IS BASED. ALL SUBSEQUENT WRITTEN AND ORAL FORWARD-LOOKING STATEMENTS
ATTRIBUTABLE TO THE GROUP OR INDIVIDUALS ACTING ON BEHALF OF THE GROUP ARE
EXPRESSLY QUALIFIED IN THEIR ENTIRETY BY THIS NOTE.( )



Copyright (c) 2023 PR Newswire Association,LLC. All Rights Reserved