Director/PDMR Shareholding

Lancashire Holdings Limited

(the “Company”)

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

The Company has been notified by Michael Dawson, Non-Executive Director, that on 28 February 2017 7,200 common shares of US$0.50 each in the Company were purchased at a price of £6.93 per share for his beneficial interest within his pension fund.

Following this transaction, Michael Dawson has an interest in the Company of 7,200 common shares, representing 0.0036%.

The notification, made in accordance with Article 19 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (Market Abuse Regulation), is set out below:

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Michael Dawson
2	Reason for the notification
a)	Position/status	Non-Executive Director
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Lancashire Holdings Limited
b)	LEI	5493002UNUYXLHOWF752
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Common Shares of US$0.50 each ISIN: BMG5361W1047
b)	Nature of the transaction	Purchase of common shares
c)	Price(s) and volume(s)	Price(s) Volume(s) £6.93 7,200
d)	Aggregated information	7,200 £49,896
e)	Date of the transaction	2017-02-28
f)	Place of the transaction	(XLON) London Stock Exchange – Regulated Market

Name of authorised official of issuer for making notification

Christopher Head Company Secretary 1 March 2017

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