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Lancashire Holdings Limited (“Lancashire” or “the Group”) announces its Share Repurchases

Hamilton, Bermuda: 25th, November 2021 – In a filing with the Bermuda Stock Exchange (“BSX”), Lancashire Holdings Limited (“Lancashire” or “the Company”; Ticker: LHL BH) announces its share repurchases. The full filing stated:

 

LANCASHIRE HOLDINGS LIMITED

 

25 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: 24 November 2021.

 

Number of Common Shares purchased: 74,994.

 

Highest price per Common Share: 517.50p.

 

Lowest price per Common Share: 509.50p.

 

Average price per Common Share: 512.07p.

 

Since 15 November 2021, the Company has purchased 522,216 Common Shares at a cost (including dealing and other associated costs) of £2,688,248.62.

 

The Company has 244,010,007 Common Shares in issue. Following the above transaction, the Company intends to hold 522,216 of its Common Shares in treasury and will have 243,487,791 Common Shares in issue with voting rights. 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

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 07.00 GMT on 25 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.

 

 

#     #     #

 

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.

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