LANCASHIRE
HOLDINGS LIMITED
23 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: 22 November
2021.
Number of Common Shares purchased: 76,347.
Highest price per Common Share: 522.00p.
Lowest price per Common Share: 510.50p.
Average price per Common Share: 513.94p.
Since 15 November 2021, the
Company has purchased 363,129 Common Shares at a cost (including
dealing and other associated costs) of £1,873,111.64.
The Company has 244,010,007 Common Shares in issue. Following
the above transaction, the Company intends to hold 363,129 of its
Common Shares in treasury and will have 243,646,878 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
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
23 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’SEXPECTATIONS 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.