Changes to the LHL Board - NED retirements

LANCASHIRE HOLDINGS LIMITED                          

26 November 2014
London, UK

     Changes to the LHL Board - Non-Executive Director ("NED") retirements     

Lancashire Holdings Limited ("Lancashire" or the "Company") announces the
retirement from the board of William Spiegel and Robert Spass with effect from
1 January 2015. Both will have completed 9 years' service from the date of
their first election and will leave the board in keeping with good practice
under the UK Corporate Governance Code as it relates to director independence
and length of service.

Martin Thomas, Lancashire's Chairman, said;

"William and Bob have been valued members of our board since the Company's
formation in 2005. Their industry experience and keen strategic minds have
played no small part in helping to establish Lancashire as a successful and
respected leader within its field. Both have provided insightful leadership and
service on the board and its committees. Lancashire has reached a point in its
development where, in the interests of formal independence, the baton has been
passed from the founding generation to a new board and management team. Having
welcomed Peter Clarke to our board in June of this year, we expect to be able
to announce a further NED appointment shortly. As we bid William and Bob
farewell, I am confident that we will sustain a board with the appropriate
range and depth of knowledge and skills to provide support, challenge and
strategic insights for the business."

This announcement has been made in accordance with the Company's obligations
with Listing Rule 9.6.11 of the Listing Rules of the UK Listing Authority.

For further information, please contact:

Lancashire Holdings Limited                                  
                                                                             
Christopher Head                       [phone]
                                       [e-mail]        
                                                                             
Jonny Creagh-Coen                      [phone]                      
                                       [e-mail]               
                                                                             
Haggie Partners                        [phone]                      
Peter Rigby                            (Peter Rigby mobile [phone])   

About Lancashire

Lancashire, through its UK and Bermuda-based operating subsidiaries, is a
global provider of specialty insurance and reinsurance products.

The Group companies carry the following ratings:

                         Financial     Financial    Long Term                  
                         Strength      Strength     Issuer                     
                                                                               
                         Rating (1)    Outlook(1)   Rating (2)                 
                                                                               
A.M. Best                A (Excellent) Stable       bbb                        
                                                                               
Standard & Poor's        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.

Cathedral benefits from Lloyd's ratings: A.M. Best: A (Excellent); Standard &
Poor's: A+ (Strong); and Fitch: AA- (Very Strong).

Lancashire has capital in excess of $1.5 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 corporate headquarters and mailing
address at 29th Floor, 20 Fenchurch Street, London EC3M 3BY, United Kingdom and
its registered office at Power House, 7 Par-la-Ville Road, Hamilton HM 11,
Bermuda.

For more information on Lancashire and Lancashire's subsidiary and Lloyd's
segment, Cathedral Capital Limited ("Cathedral"), visit the Company's website
at www.lancashiregroup.com

Lancashire Insurance Company Limited is regulated by the Bermuda Monetary
Authority in Bermuda.

Lancashire Insurance Company (UK) Limited is authorised by the Prudential
Regulation Authority and regulated by the Financial Conduct Authority and the
Prudential Regulation Authority in the UK.

Kinesis Capital Management Limited is regulated by the Bermuda Monetary
Authority in Bermuda.

Cathedral Underwriting Limited is authorised by the Prudential Regulation
Authority and regulated by the Financial Conduct Authority and the Prudential
Regulation Authority in the UK.

NOTE REGARDING FORWARD-LOOKING STATEMENTS:

CERTAIN STATEMENTS AND INDICATIVE PROJECTIONS (WHICH MAY INCLUDE MODELED 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", "PLANS", "PROJECTS",
"FORECASTS", "GUIDANCE", "INTENDS", "EXPECTS", "ESTIMATES", "PREDICTS", "MAY",
"CAN", "WILL", "SEEKS", "SHOULD", OR, IN EACH CASE, THEIR NEGATIVE OR
COMPARABLE TERMINOLOGY. ALL SUCH STATEMENTS OTHER THAN STATEMENTS OF HISTORICAL
FACTS INCLUDING, WITHOUT LIMITATION, THE GROUP'S FINANCIAL POSITION, RESULTS OF
OPERATIONS, PROSPECTS, GROWTH, CAPITAL MANAGEMENT PLANS AND EFFICIENCIES,
ABILITY TO CREATE VALUE, DIVIDEND POLICY, OPERATIONAL FLEXIBILITY, COMPOSITION
OF MANAGEMENT, 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 MAY 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 FACTORS INCLUDE, BUT ARE NOT LIMITED TO: THE GROUP'S ABILITY TO INTEGRATE
ITS BUSINESSES AND PERSONNEL; THE SUCCESSFUL RETENTION AND MOTIVATION OF THE
GROUP'S KEY MANAGEMENT; THE INCREASED REGULATORY BURDEN FACING THE GROUP, THE
NUMBER AND TYPE OF INSURANCE AND REINSURANCE CONTRACTS THAT THE GROUP WRITES OR
MAY WRITE; THE PREMIUM RATES WHICH MAY BE AVAILABLE AT THE TIME OF SUCH
RENEWALS WITHIN ITS TARGETED BUSINESS LINES; THE POSSIBLE LOW FREQUENCY OF
LARGE EVENTS; POTENTIALLY UNUSUAL LOSS FREQUENCY; THE IMPACT THAT THE GROUP'S
FUTURE OPERATING RESULTS, CAPITAL POSITION AND RATING AGENCY AND OTHER
CONSIDERATIONS MAY HAVE ON THE EXECUTION OF ANY CAPITAL MANAGEMENT INITIATIVES
OR DIVIDENDS; THE POSSIBILITY OF GREATER FREQUENCY OR SEVERITY OF CLAIMS AND
LOSS ACTIVITY THAN THE GROUP'S UNDERWRITING, RESERVING OR INVESTMENT PRACTICES
HAVE ANTICIPATED; THE RELIABILITY OF, AND CHANGES IN ASSUMPTIONS TO,
CATASTROPHE PRICING, ACCUMULATION AND ESTIMATED LOSS MODELS; THE EFFECTIVENESS
OF ITS LOSS LIMITATION METHODS; THE POTENTIAL LOSS OF KEY PERSONNEL; A DECLINE
IN THE GROUP'S OPERATING SUBSIDIARIES' RATING WITH A.M. BEST, STANDARD &
POOR'S, MOODY'S OR OTHER RATING AGENCIES; INCREASED COMPETITION ON THE BASIS OF
PRICING, CAPACITY, COVERAGE TERMS OR OTHER FACTORS; CYCLICAL DOWNTURNS OF THE
INDUSTRY; THE IMPACT OF A DETERIORATING CREDIT ENVIRONMENT FOR ISSUERS OF FIXED
INCOME INVESTMENTS; THE IMPACT OF SWINGS IN MARKET INTEREST RATES AND
SECURITIES PRICES; A RATING DOWNGRADE OF, OR A MARKET DECLINE IN, SECURITIES IN
ITS INVESTMENT PORTFOLIO; CHANGES IN GOVERNMENTAL REGULATIONS OR TAX LAWS IN
JURISDICTIONS WHERE THE GROUP CONDUCTS BUSINESS; ANY OF LANCASHIRE'S BERMUDIAN
SUBSIDIARIES BECOMING SUBJECT TO INCOME TAXES IN THE UNITED STATES OR THE
UNITED KINGDOM; THE INAPPLICABILITY TO THE GROUP OF SUITABLE EXCLUSIONS FROM
THE NEW UK CFC REGIME; AND ANY CHANGE IN THE UK GOVERNMENT OR UK GOVERNMENT
POLICY WHICH IMPACTS THE NEW CFC REGIME .

ALL FORWARD-LOOKING STATEMENTS IN THIS RELEASE 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 STATEMENTS TO REFLECT ANY CHANGES IN THE GROUP'S
EXPECTATIONS OR CIRCUMSTANCES ON WHICH ANY SUCH STATEMENT IS BASED.