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
Christopher
Head |
+44 20 7264 4145
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.