Appointment of Chief Risk Officer

Lancashire Holdings Limited                          

28 November 2008
Hamilton, Bermuda

                    LANCASHIRE APPOINTS CHIEF RISK OFFICER                     

Lancashire Holdings Limited ("Lancashire" or "the Company") today announced the
appointment of Steven Sumner as Chief Risk Officer. Neil McConachie, who
previously held the role of Chief Risk Officer, continues as Group Chief
Financial Officer and a Director of Lancashire.

Steve joins the Lancashire Group from PricewaterhouseCoopers where, as a
Director, he led the strategic management and insurance consulting operations
practice with specific responsibility for facilitating the enterprise risk
management processes and methodologies for new and established insurers and
reinsurers.

Prior to working for PricewaterhouseCoopers, Steve held senior roles at Crum &
Forster, American International Group and Continental Insurance Companies. He
brings to the Lancashire Group over 30 years' experience in the insurance
industry covering a diverse range of functions including underwriting, finance,
information systems, claims and operations.

Neil McConachie, Group Chief Financial Officer, commented:

"We are delighted to welcome Steve to the Lancashire Group as Chief Risk
Officer. Steve's appointment is another strong statement of our commitment to
excellence in risk management. Steve's broad experience and insight into risk
management practices across a wide variety of insurance organizations gives him
a unique ability to act as a critical link between our Underwriting, Actuarial
and Modelling, IT, Operations and Finance teams."

For further information, please contact:

Lancashire Holdings                                                            
Jonny Creagh-Coen             [phone]                   
Greg Lunn                     [phone]                        
                                                                               
Financial Dynamics            [phone]                   
Rob Bailhache                                                                  
Nick Henderson                                                                 

About Lancashire

Lancashire, through its UK and Bermuda-based insurance subsidiaries, is a
global provider of specialty insurance products. Its insurance subsidiaries
carry the Lancashire group rating of A minus (Excellent) from A.M. Best with a
stable outlook. Lancashire has capital in excess of $1 billion dollars and its
Common Shares trade on AIM under the ticker symbol LRE. Lancashire is
headquartered at Mintflower Place, 8 Par-La-Ville Road, Hamilton HM 08,
Bermuda. The mailing address is Lancashire Holdings Limited, P.O. Box HM 2358,
Hamilton HM HX, Bermuda. For more information on Lancashire, visit the
company's website at www.lancashire.bm.

NOTE REGARDING FORWARD-LOOKING STATEMENTS

CERTAIN STATEMENTS MADE IN THIS ANNOUNCEMENT THAT ARE NOT BASED ON CURRENT OR
HISTORICAL FACTS ARE FORWARD-LOOKING IN NATURE INCLUDING, WITHOUT LIMITATION,
STATEMENTS CONTAINING WORDS 'BELIEVES', 'ANTICIPATES', 'PLANS', 'PROJECTS',
'INTENDS', 'EXPECTS', 'ESTIMATES', 'PREDICTS', 'MAY','WILL', 'SEEKS', 'SHOULD'
OR, IN EACH CASE, THEIR NEGATIVE OR COMPARABLE TERMINOLOGY. ALL STATEMENTS
OTHER THAN STATEMENTS OF HISTORICAL FACTS INCLUDING, WITHOUT LIMITATION, THOSE
REGARDING THE GROUP'S FINANCIAL POSITION, RESULTS OF OPERATIONS, LIQUIDITY,
PROSPECTS, GROWTH, BUSINESS STRATEGY, PLANS AND OBJECTIVES OF MANAGEMENT FOR
FUTURE OPERATIONS (INCLUDING DEVELOPMENT PLANS AND OBJECTIVES RELATING TO THE
GROUP'S INSURANCE BUSINESS) ARE FORWARD-LOOKING STATEMENTS. SUCH
FORWARD-LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND
OTHER IMPORTANT FACTORS THAT COULD CAUSE THE ACTUAL RESULTS, PERFORMANCE OR
ACHIEVEMENTS OF THE GROUP TO BE MATERIALLY DIFFERENT FROM FUTURE RESULTS,
PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING
STATEMENTS. THESE FORWARD-LOOKING STATEMENTS SPEAK ONLY AS AT THE DATE OF THIS
ANNOUNCEMENT OR OTHER INFORMATION CONCERNED. LANCASHIRE HOLDINGS LIMITED
EXPRESSLY DISCLAIMS ANY OBLIGATION OR UNDERTAKING (SAVE AS REQUIRED TO COMPLY
WITH ANY LEGAL OR REGULATORY OBLIGATIONS (INCLUDING THE AIM RULES)) TO
DISSEMINATE ANY UPDATES OR REVISIONS TO ANY FORWARD-LOOKING STATEMENTS
CONTAINED HEREIN TO REFLECT ANY CHANGES IN THE GROUP'S EXPECTATIONS WITH REGARD
THERETO OR ANY CHANGE IN EVENTS, CONDITIONS OR CIRCUMSTANCES ON WHICH ANY SUCH
STATEMENT IS BASED.