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Hamilton, Bermuda: 12^th, November 2021 – In a filing with the Bermuda Stock Exchange (“BSX”), Lancashire Holdings Limited (“Lancashire” or “the Company”; Ticker: LHL BH) announces its share repurchase programme. The full filing stated:

LANCASHIRE HOLDINGS LIMITED

 

12 November 2021

 

Hamilton, Bermuda

 

Share Repurchase Programme

 

Lancashire Holdings Limited (the “Company” or “Lancashire”) today announces that, further to the announcement made in the Company’s Q3 2021 Trading Statement dated 4 November 2021, it will commence a share repurchase programme of its common shares of US$0.50 each (the “Shares”) up to a maximum consideration of US$7,462,000 (the “Aggregate Purchase Price”) (the “Programme”).

 

Lancashire announces that it has entered into an instruction to Morgan Stanley & Co. International Plc (“Morgan Stanley”) in relation to the purchase by Morgan Stanley, acting as riskless principal during the period commencingon 15 November 2021 and ending no later than 10 December 2021, of Shares for an aggregate amount of no greater than the Aggregate Purchase Price and the simultaneous on-sale of such Shares by Morgan Stanley to Lancashire.

 

Any purchase of Shares in relation to this announcement will be executed in accordance with the relevant regulations (including but not limited to the Listing Rules) and Lancashire’s general authority, as granted by shareholders at Lancashire’s AGM held on the 28 April 2021, to make market purchases of Shares. Lancashire will announce any market repurchase of Shares no later than 7.30 a.m. on the business day following the calendar day on which the repurchase occurred. Shares purchased under the Programme will be used to satisfy a number of future exercises of awards under the Company’s 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	Financial	Long Term
	Strength	Strength	Issuer
	Rating (1)	Outlook (1)	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 atwww.lancashiregroup.com.

 

The information was submitted for publication, through the agency of the contact persons set out above, at 16.00 GMT on 12 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.

 

 

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For more information on the Bermuda Stock Exchange (BSX), contact James Best at 1-441-292-7212 or jbest@bsx.com . Information is also available at www.bsx.com and on Bloomberg at BSX.

 

Established in 1971 the Bermuda Stock Exchange (BSX) is the leading fully electronic offshore securities market. The BSX specializes in listing and trading of capital market instruments such as equities, debt issues, funds, hedge funds, derivative warrants and Insurance Linked Securities.

 

The BSX is a full member of the World Federation of Exchanges (WFE) and is in an O.E.C.D. member nation and an affiliate member of IOSCO. The BSX is recognised by the US SEC as a Designated Offshore Securities Market. In addition, the BSX is recognized by the U.S. Securities & Exchange Commission (SEC) as a Designated Offshore Securities Market under Regulation S; The Financial Services Authority in the UK as a Designated Investment Exchange; HM Revenue & Customs in the UK as a Recognized Stock Exchange; The Bermuda Monetary Authority as a Recognised Investment Exchange; and as an Approved Stock Exchange under Australia’s Foreign Investment Funds (FIF) taxation rules; and Designated Exchange status under Canada’s Income Tax Act and is a member of America’s Central Securities Depository Association.