Notice of AGM and Annual Report 2013
LANCASHIRE HOLDINGS LIMITED
11 March 2014
London, UK
Notice of AGM and Annual Report 2013
Lancashire Holdings Limited (the "Company") will hold its Annual General
Meeting ("AGM") on 30 April 2014 commencing at 1:30pm (UK time) at its head
office, Level 11, Vitro, 60 Fenchurch Street, London EC3M 4AD. Notice of the
AGM ("AGM Notice"), a form of proxy, a form of direction for holders of
depository interests and the annual report and accounts for the year ended 31
December 2013 were posted to shareholders on 10 March 2014.
Pursuant to Listing Rule 9.6.3, copies of the Company's annual report and
accounts 2013 and AGM Notice and ancillary documents have been submitted to the
National Storage Mechanism and will shortly be available for inspection at
www.hemscott.com/nsm.do
Copies of the AGM Notice and ancillary documents and the annual report and
accounts 2013 will also be available on the Company's website,
www.lancashiregroup.com
For further information, please contact:
Lancashire Holdings Limited
Christopher Head +44 20 7264 4145
chris.head@lancashiregroup.com
Jonny Creagh-Coen +44 20 7264 4066
jcc@lancashiregroup.com
Haggie Financial +44 20 7417 8989
Peter Rigby (Peter Rigby mobile +44 7803851426)
Investor enquiries and questions can also be directed to
info@lancashiregroup.com or by accessing the Group's website
www.lancashiregroup.com.
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.
NB: Cathedral benefits from Lloyd's ratings: A.M. Best: A (Excellent); Standard
& Poor's: A+ (Strong); and Fitch: A+ (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 Level 11, Vitro, 60 Fenchurch Street, London EC3M 4AD, United
Kingdom and its registered office at Power House, 7 Par-la-Ville Road, Hamilton
HM 11, Bermuda.
For more information on Lancashire, 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 and Kinesis Reinsurance I Limited are
regulated by the Bermuda Monetary Authority in Bermuda.
For more information on Lancashire's subsidiary and Lloyd's segment, Cathedral
Capital Limited ("Cathedral"), visit Cathedral's website at
www.cathedralcapital.com
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.
IMPORTANT NOTICES
THIS RELEASE IS FOR INFORMATION ONLY AND DOES NOT CONSTITUTE AN OFFER OR
INVITATION TO UNDERWRITE, SUBSCRIBE FOR OR OTHERWISE ACQUIRE OR DISPOSE OF ANY
SECURITIES OR INVESTMENT ADVICE IN ANY JURISDICTION. PERSONS NEEDING ADVICE
SHOULD CONSULT AN INDEPENDENT FINANCIAL ADVISER. THIS RELEASE DOES NOT
CONSTITUTE AN OFFER OF SECURITIES TO THE PUBLIC IN THE UNITED STATES, UNITED
KINGDOM OR IN ANY OTHER JURISDICTION. THERE HAS NOT BEEN, AND WILL NOT BE, ANY
PUBLIC OFFERING OF SECURITIES IN CONNECTION WITH THE FUND-RAISING CONDUCTED BY
KINESIS HOLDINGS REFERRED TO IN THIS RELEASE IN THE UNITED STATES, THE UNITED
KINGDOM OR ANY OTHER JURISDICTION.
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.
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