LANCASHIRE
HOLDINGS LIMITED
16 November 2021
Hamilton, Bermuda
Share Repurchase
Programme
Lancashire Holdings Limited (“the
Company” or “Lancashire”) announces today that it has purchased the
following number of its common shares of US$0.50 each (“Common Shares”) on the London
Stock Exchange from Morgan Stanley & Co. International Plc.
Such purchases were effected pursuant to the instructions issued by
the Company on 12 November 2021, as
announced that same day:
Date of purchase: 15 November 2021.
Number of Common Shares purchased:
55,000.
Average price per Common Share:
515.04p.
Since 15
November 2021, the Company has purchased 55,000 shares at a
cost (including dealing and other associated costs) of
£283,838.54.
Following the above transaction, the
Company intends to hold 55,000 of its Common Shares in treasury and
has 243,955,007 Common Shares in issue. Shares purchased under the
programme will be used to satisfy a number of future exercises of
awards under its Restricted Share Scheme.
This announcement
does not constitute, or form part of, an offer or any solicitation
of an offer for securities in any jurisdiction.
See further the “Note Regarding
Forward-Looking Statements” below.
For further information, please
contact:
Lancashire Holdings
Limited
Christopher Head |
+44 20 7264 4145
chris.head@lancashiregroup.com |
Jelena Bjelanovic |
+44 20 7264 4066
jelena.bjelanovic@lancashiregroup.com |
FTI Consulting |
+44 20 37271046 |
Edward Berry |
Edward.Berry@FTIConsulting.com |
Tom Blackwell |
Tom.Blackwell@FTIConsulting.com |
About Lancashire
Lancashire, through its UK and Bermuda-based operating subsidiaries, is a
provider of global specialty insurance and reinsurance
products.
|
Financial
Strength
Rating (1) |
Financial Strength
Outlook (1) |
Long
Term
Issuer
Rating (2) |
A.M. Best |
A (Excellent) |
Stable |
Bbb+ |
S&P Global
Ratings |
A- |
Stable |
BBB |
Moody’s |
A3 |
Stable |
Baa2 |
(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.
Lancashire Syndicates Limited
benefits from Lloyd’s ratings: A.M. Best: A (Excellent); S&P
Global Ratings: A+ (Strong); and Fitch: AA- (Very Strong).
Lancashire has capital of
approximately $1.9 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 head office and registered office at Power House, 7
Par-la-Ville Road, Hamilton HM 11, Bermuda.
The Bermuda Monetary Authority
(“BMA”) is the Group Supervisor of the Lancashire Group.
For more information, please visit
Lancashire’s website at www.lancashiregroup.com.
The information was submitted for
publication, through the agency of the contact persons set out
above, at 07.00 GMT on 16 November
2021.
NOTE REGARDING FORWARD-LOOKING
STATEMENTS:
CERTAIN STATEMENTS AND INDICATIVE
PROJECTIONS (WHICH MAY INCLUDE MODELLED LOSS SCENARIOS) MADE IN
THIS RELEASE OR OTHERWISE THAT ARE NOT BASED ON CURRENT OR
HISTORICAL FACTS ARE FORWARD-LOOKING IN NATURE INCLUDING, WITHOUT
LIMITATION, STATEMENTS CONTAINING THE WORDS “BELIEVES”,
“ANTICIPATES”, “AIMS”, “PLANS”, “PROJECTS”, “FORECASTS”,
“GUIDANCE”, “INTENDS”, “EXPECTS”, “ESTIMATES”, “PREDICTS”, “MAY”,
“CAN”, “LIKELY”, “WILL”, “SEEKS”, “SHOULD”, OR, IN EACH CASE, THEIR
NEGATIVE OR COMPARABLE TERMINOLOGY.
ALL FORWARD-LOOKING STATEMENTS IN
THIS RELEASE SPEAK ONLY AS AT THE DATE OF PUBLICATION. LANCASHIRE HOLDINGS LIMITED 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. PROSPECTIVE INVESTORS
SHOULD SPECIFICALLY CONSIDER THE FACTORS IDENTIFIED IN THIS RELEASE
WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER BEFORE MAKING AN
INVESTMENT DECISION.