LANCASHIRE HOLDINGS LIMITED
7 April 2011
Hamilton, Bermuda
Annual Information Update for the 12 months up to and including 7 April 2011
In accordance with PR 5.2 Lancashire Holdings Limited (the “Company”) sets out below a
summary of the information that has been published or made available to the public over the
previous twelve months, up to and including 7 April 2011.
The Company is registered in Bermuda and is not required to file documents with Companies House in the United Kingdom.
The following regulatory announcements have been made via a Regulatory Information Service:
01/04/2011 |
Lancashire Holdings Limited (LRE) |
Holding(s) in Company |
31/03/2011 |
Lancashire Holdings Limited (LRE) |
Total Voting Rights |
30/03/2011 |
Lancashire Holdings Limited (LRE) |
Treasury Stock - Transfers |
24/03/2011 |
Lancashire Holdings Limited (LRE) |
Notice of Q1 2011 Results and Conference Call |
23/03/2011 |
Lancashire Holdings Limited (LRE) |
Treasury Share Transfer |
15/03/2011 |
Lancashire Holdings Limited (LRE) |
Notice of AGM and Annual Report 2010 |
15/03/2011 |
Lancashire Holdings Limited (LRE) |
Q1 2011 Reported Losses and Japan Update |
11/03/2011 |
Lancashire Holdings Limited (LRE) |
FRN Variable Rate Fix |
10/03/2011 |
Lancashire Holdings Limited (LRE) |
Holding(s) in Company |
09/03/2011 |
Lancashire Holdings Limited (LRE) |
Director/PDMR Shareholding |
09/03/2011 |
Lancashire Holdings Limited (LRE) |
Holding(s) in Company |
07/03/2011 |
Lancashire Holdings Limited (LRE) |
AGM Record Date |
02/03/2011 |
Lancashire Holdings Limited (LRE) |
Treasury Shares - Transfers |
02/03/2011 |
Lancashire Holdings Limited (LRE) |
Holding(s) in Company |
02/03/2011 |
Lancashire Holdings Limited (LRE) |
Director/PDMR Shareholding |
01/03/2011 |
Lancashire Holdings Limited (LRE) |
Director/PDMR Shareholding |
01/03/2011 |
Lancashire Holdings Limited (LRE) |
Director/PDMR Shareholding |
01/03/2011 |
Lancashire Holdings Limited (LRE) |
Director/PDMR Shareholding |
28/02/2011 |
Lancashire Holdings Limited (LRE) |
Total Voting Rights |
28/02/2011 |
Lancashire Holdings Limited (LRE) |
Notice of Investor Day |
25/02/2011 |
Lancashire Holdings Limited (LRE) |
Director/PDMR Shareholding |
24/02/2011 |
Lancashire Holdings Limited (LRE) |
Final Results - Replacement |
22/02/2011 |
Lancashire Holdings Limited (LRE) |
Director/PDMR Shareholding |
22/02/2011 |
Lancashire Holdings Limited (LRE) |
Holding(s) In Company |
21/02/2011 |
Lancashire Holdings Limited (LRE) |
Final Results |
01/02/2011 |
Lancashire Holdings Limited (LRE) |
Director/PDMR Shareholding |
01/02/2011 |
Lancashire Holdings Limited (LRE) |
Holding(s) in Company |
01/02/2011 |
Lancashire Holdings Limited (LRE) |
Holding(s) in Company |
31/01/2011 |
Lancashire Holdings Limited (LRE) |
Total Voting Rights |
13/01/2011 |
Lancashire Holdings Limited (LRE) |
SGM Special Resolutions Available for Inspection |
10/01/2011 |
Lancashire Holdings Limited (LRE) |
Notice of Q4 2010 Results and Conference Call |
05/01/2010 |
Lancashire Holdings Limited (LRE) |
Director/PDMR Shareholding |
04/01/2011 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares during Close Period |
04/01/2011 |
Lancashire Holdings Limited (LRE) |
Total Voting Rights |
23/12/2010 |
Lancashire Holdings Limited (LRE) |
Director/PDMR Shareholding |
22/12/2010 |
Lancashire Holdings Limited (LRE) |
Director/PDMR Shareholding |
22/12/2010 |
Lancashire Holdings Limited (LRE) |
Notice of SGM Results |
16/12/2010 |
Lancashire Holdings Limited (LRE) |
Total Voting Rights |
14/12/2010 |
Lancashire Holdings Limited (LRE) |
FRN Variable Rate Fix |
13/12/2010 |
Lancashire Holdings Limited (LRE) |
Holding(s) In Company |
13/12/2010 |
Lancashire Holdings Limited (LRE) |
Holding(s) In Company |
09/12/2010 |
Lancashire Holdings Limited (LRE) |
Holding(s) In Company |
03/12/2010 |
Lancashire Holdings Limited (LRE) |
Holding(s) In Company |
30/11/2010 |
Lancashire Holdings Limited (LRE) |
Total Voting Rights |
29/11/2010 |
Lancashire Holdings Limited (LRE) |
Posting of Notice of Special General Meeting |
24/11/2010 |
Lancashire Holdings Limited (LRE) |
Director/PDMR Shareholding |
23/11/2010 |
Lancashire Holdings Limited (LRE) |
Holding(s) In Company |
22/11/2010 |
Lancashire Holdings Limited (LRE) |
SGM Record Date |
17/11/2010 |
Lancashire Holdings Limited (LRE) |
Holding(s) In Company |
08/11/2010 |
Lancashire Holdings Limited (LRE) |
3rd Quarter Results |
08/11/2010 |
Lancashire Holdings Limited (LRE) |
Director Appointment and Proposed CFO Change |
29/10/2010 |
Lancashire Holdings Limited (LRE) |
Total Voting Rights |
28/10/2010 |
Lancashire Holdings Limited (LRE) |
Moody’s Rating Announcement |
26/10/2010 |
Lancashire Holdings Limited (LRE) |
Holding(s) in Company |
19/10/2010 |
Lancashire Holdings Limited (LRE) |
Directorate Change |
11/10/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
30/09/2010 |
Lancashire Holdings Limited (LRE) |
Total Voting Rights |
29/09/2010 |
Lancashire Holdings Limited (LRE) |
Director/PDMR Shareholding |
24/09/2010 |
Lancashire Holdings Limited (LRE) |
Holding(s) in Company |
24/09/2010 |
Lancashire Holdings Limited (LRE) |
Notice of Results |
21/09/2010 |
Lancashire Holdings Limited (LRE) |
Appointment of LICL Head of Underwriting |
17/09/2010 |
Lancashire Holdings Limited (LRE) |
Transaction In Own Shares |
16/09/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
15/09/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
13/09/2010 |
Lancashire Holdings Limited (LRE) |
FRN Variable Rate Fix |
13/09/2010 |
Lancashire Holdings Limited (LRE) |
Holding(s) in Company |
13/09/2010 |
Lancashire Holdings Limited (LRE) |
Share Repurchase Programme Update |
13/09/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
10/09/2010 |
Lancashire Holdings Limited (LRE) |
Director/PDMR Shareholding |
10/09/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
09/09/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
08/09/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in own Shares |
02/09/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
01/09/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
31/08/2010 |
Lancashire Holdings Limited (LRE) |
Total Voting Rights |
31/08/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
27/08/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
26/08/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
25/08/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in own Shares |
24/08/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
23/08/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
20/08/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
19/08/2010 |
Lancashire Holdings Limited (LRE) |
Director/PDMR Shareholding |
19/08/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
18/08/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
17/08/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in own Shares |
16/08/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
13/08/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
12/08/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
11/08/2010 |
Lancashire Holdings Limited (LRE) |
Director / PDMR Shareholding |
11/08/2010 |
Lancashire Holdings Limited (LRE) |
Director/PDMR Shareholding |
11/08/2010 |
Lancashire Holdings Limited (LRE) |
Transcation in Own Shares |
10/08/2010 |
Lancashire Holdings Limited (LRE) |
Holding(s) In Company |
06/08/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
05/08/2010 |
Lancashire Holdings Limited (LRE) |
Q2 2010 Results |
05/08/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
05/08/2010 |
Lancashire Holdings Limited (LRE) |
Director Appointment |
04/08/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
03/08/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
02/08/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
30/07/2010 |
Lancashire Holdings Limited (LRE) |
Total Voting Rights |
30/07/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
29/07/2010 |
Lancashire Holdings Limited (LRE) |
Appointment of Group Marketing Director |
29/07/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
28/07/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
27/07/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
26/07/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
23/07/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
22/07/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
21/07/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
20/07/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
19/07/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
16/07/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
15/07/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
14/07/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
13/07/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
12/07/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
09/07/2010 |
Lancashire Holdings Limited (LRE) |
Holding(s) In Company |
09/07/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
08/07/2010 |
Lancashire Holdings Limited (LRE) |
Holding(s) in Company |
08/07/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
07/07/2010 |
Lancashire Holdings Limited (LRE) |
Holding(s) in Company |
07/07/2010 |
Lancashire Holdings Limited (LRE) |
Directorate Change |
07/07/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
07/07/2010 |
Lancashire Holdings Limited (LRE) |
Director / PDMR Shareholding |
06/07/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
02/07/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares during Close Period |
01/07/2010 |
Lancashire Holdings Limited (LRE) |
Share Repurchase Related Party Transaction |
01/07/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
30/06/2010 |
Lancashire Holdings Limited (LRE) |
Total Voting Rights |
30/06/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
29/06/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
29/06/2010 |
Lancashire Holdings Limited (LRE) |
Holding(s) in Company |
28/06/2010 |
Lancashire Holdings Limited (LRE) |
Director/PDMR Shareholding |
28/06/2010 |
Lancashire Holdings Limited (LRE) |
Director/PDMR Shareholding |
28/06/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
25/06/2010 |
Lancashire Holdings Limited (LRE) |
Holding(s) in Company |
25/06/2010 |
Lancashire Holdings Limited (LRE) |
Notice of Results |
25/06/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in own shares |
24/06/2010 |
Lancashire Holdings Limited (LRE) |
Transaction In own shares |
22/06/2010 |
Lancashire Holdings Limited (LRE) |
Director/PDMR Shareholding |
21/06/2010 |
Lancashire Holdings Limited (LRE) |
Director/PDMR Shareholding |
18/06/2010 |
Lancashire Holdings Limited (LRE) |
Director/PDMR Shareholding |
16/06/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
15/06/2010 |
Lancashire Holdings Limited (LRE) |
Director/PDMR Shareholding |
14/06/2010 |
Lancashire Holdings Limited (LRE) |
FRN Variable Rate Fix |
11/06/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
11/06/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in Own Shares |
10/06/2010 |
Lancashire Holdings Limited (LRE) |
Holding(s) in Company |
10/06/2010 |
Lancashire Holdings Limited (LRE) |
Holding(s) in Company |
10/06/2010 |
Lancashire Holdings Limited (LRE) |
Director / PDMR Shareholding |
10/06/2010 |
Lancashire Holdings Limited (LRE) |
Share Repurchase Programme Update |
09/06/2010 |
Lancashire Holdings Limited (LRE) |
PDMR Shareholding |
04/06/2010 |
Lancashire Holdings Limited (LRE) |
AGM Resolutions Posted to FSA |
03/06/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in own shares |
02/06/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in own shares |
28/05/2010 |
Lancashire Holdings Limited (LRE) |
Holding(s) in Company |
28/05/2010 |
Lancashire Holdings Limited (LRE) |
Holding(s) in Company |
28/05/2010 |
Lancashire Holdings Limited (LRE) |
Holding(s) in Company |
28/05/2010 |
Lancashire Holdings Limited (LRE) |
Notification of Major Interest in Shares |
28/05/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in own shares |
26/05/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in own shares |
25/05/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in own shares |
24/05/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in own shares |
21/05/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in own shares |
20/05/2010 |
Lancashire Holdings Limited (LRE) |
Holding(s) in Company |
20/05/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in own shares |
19/05/2010 |
Lancashire Holdings Limited (LRE) |
Statement re S&P Rating Upgrades |
19/05/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in own shares |
18/05/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in own shares |
17/05/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in own shares |
14/05/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in own shares |
14/05/2010 |
Lancashire Holdings Limited (LRE) |
Notification of Major Interest in Shares |
13/05/2010 |
Lancashire Holdings Limited (LRE) |
Transaction In own shares |
12/05/2010 |
Lancashire Holdings Limited (LRE) |
Director/PDMR Shareholding |
12/05/2010 |
Lancashire Holdings Limited (LRE) |
Results of Intraday share repurchase |
11/05/2010 |
Lancashire Holdings Limited (LRE) |
Intention to conduct intraday share repurchase |
11/05/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in own shares |
10/05/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in own shares |
07/05/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in own shares |
06/05/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in own shares |
05/05/2010 |
Lancashire Holdings Limited (LRE) |
Results of AGM |
05/05/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in own shares |
05/05/2010 |
Lancashire Holdings Limited (LRE) |
1st Quarter Results |
30/04/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in own shares |
30/04/2010 |
Lancashire Holdings Limited (LRE) |
Total Voting Rights |
30/04/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in own shares |
29/04/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in own shares |
28/04/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in own shares |
28/04/2010 |
Lancashire Holdings Limited (LRE) |
Directorate Change |
27/04/2010 |
Lancashire Holdings Limtied (LRE) |
Transaction in own shares |
26/04/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in own shares |
26/04/2010 |
Lancashire Holdings Limited (LRE) |
US$200 Million Credit Facility |
23/04/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in own shares |
22/04/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in own shares |
20/04/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in own shares |
19/04/2010 |
Lancashire Holdings Limited (LRE) |
Transaction in own shares |
16/04/2010 |
Lancashire Holdings Limited (LRE) |
Annual Information Update |
Any related documents are available for inspection via the National Storage Mechanism at www.hemscott.com/nsm.do
The Company's Annual Report for the year ended 31 December 2010 can be found on the Company's website www.lancashiregroup.com. Copies of all the documents referred to are also available for inspection at the Company's Bermuda office at Power House, 7 Par-la-Ville Road, Hamilton HM 11, Bermuda during normal business hours on week days.
In accordance with Article 27 (3) of the Prospectus Directive Regulations, it is acknowledged that the information referred to in this Annual Information Update was up to date at the time it was published but such disclosures may now be or may at any time become out of date.
For further information, please contact:
Lancashire Holdings Limited
Christopher Head
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+44 (0)20 7264 4145 |
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Jonny Creagh-Coen
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+44 (0)20 7264 4066 |
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Haggie Financial |
+44 (0)20 7417 8989 |
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Peter Rigby |
(Peter Rigby mobile 07803851426) |
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About Lancashire
Lancashire, through its UK and Bermuda-based insurance subsidiaries, is a global provider of specialty insurance products. The Group companies carry the following ratings:
|
Financial Strength Rating (1) |
Long Term Issuer Rating (2) |
Outlook |
A.M. Best |
A- |
BBB- |
Positive |
Standard & Poor’s |
A- |
BBB |
Stable |
Moody’s |
A3 |
Baa2 |
Stable |
(1)Financial Strength Rating applies to Lancashire Insurance Company Limited and Lancashire Insurance Company (UK) Limited
(2) Long Term Issuer Rating applies to Lancashire Holdings Limited
Lancashire has capital in excess of $1 billion and its Common Shares trade on the main market of the London Stock Exchange under the ticker symbol LRE. Lancashire is headquartered at Power House, 7 Par-la-Ville Road, Hamilton HM 11, 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.lancashiregroup.com
Lancashire Insurance Company (UK) Limited is regulated by the Financial Services Authority in the UK.
Lancashire Marketing Services (Middle East) Limited is authorised and regulated by the Dubai Financial Services Authority.
Lancashire Insurance Company Limited is regulated by the Bermuda Monetary Authority in Bermuda.
NOTE REGARDING FORWARD-LOOKING STATEMENTS:
CERTAIN STATEMENTS AND INDICATIVE PROJECTIONS (WHICH MAY INCLUDE MODELED LOSS SCENARIOS) MADE 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 STATEMENTS OTHER THAN STATEMENTS OF HISTORICAL FACTS INCLUDING, WITHOUT LIMITATION, THOSE REGARDING THE GROUP'S FINANCIAL POSITION, RESULTS OF OPERATIONS, LIQUIDITY, PROSPECTS, GROWTH, CAPITAL MANAGEMENT PLANS, 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 FACTORS INCLUDE, BUT ARE NOT LIMITED TO: THE NUMBER AND TYPE OF INSURANCE AND REINSURANCE CONTRACTS THAT WE WRITE; THE PREMIUM RATES AVAILABLE AT THE TIME OF SUCH RENEWALS WITHIN OUR TARGETED BUSINESS LINES; THE LOW FREQUENCY OF LARGE EVENTS; UNUSUAL LOSS FREQUENCY; THE IMPACT THAT OUR FUTURE OPERATING RESULTS, CAPITAL POSITION AND RATING AGENCY AND OTHER CONSIDERATIONS HAVE ON THE EXECUTION OF ANY CAPITAL MANAGEMENT INITIATIVES; THE POSSIBILITY OF GREATER FREQUENCY OR SEVERITY OF CLAIMS AND LOSS ACTIVITY THAN OUR UNDERWRITING, RESERVING OR INVESTMENT PRACTICES HAVE ANTICIPATED; THE RELIABILITY OF, AND CHANGES IN ASSUMPTIONS TO, CATASTROPHE PRICING, ACCUMULATION AND ESTIMATED LOSS MODELS; LOSS OF KEY PERSONNEL; A DECLINE IN OUR OPERATING SUBSIDIARIES' RATING WITH RATING AGENCIES; INCREASED COMPETITION ON THE BASIS OF PRICING, CAPACITY, COVERAGE TERMS OR OTHER FACTORS; A CYCLICAL DOWNTURN OF THE INDUSTRY; THE IMPACT OF A DETERIORATING CREDIT ENVIRONMENT CREATED BY THE FINANCIAL MARKETS; A RATING DOWNGRADE OF, OR A MARKET DECLINE IN, SECURITIES IN OUR INVESTMENT PORTFOLIO; CHANGES IN GOVERNMENTAL REGULATIONS OR TAX LAWS IN JURISDICTIONS WHERE LANCASHIRE CONDUCTS BUSINESS; LANCASHIRE OR ITS BERMUDIAN SUBSIDIARY BECOMING SUBJECT TO INCOME TAXES IN THE UNITED STATES OR THE UNITED KINGDOM; AND THE EFFECTIVENESS OF OUR LOSS LIMITATION METHODS. ANY ESTIMATES RELATING TO LOSS EVENTS INVOLVE THE EXERCISE OF CONSIDERABLE JUDGEMENT AND REFLECT A COMBINATION OF GROUND-UP EVALUATIONS, INFORMATION AVAILABLE TO DATE FROM BROKERS AND INSUREDS, MARKET INTELLIGENCE, INITIAL AND/OR TENTATIVE LOSS REPORTS AND OTHER SOURCES. JUDGEMENTS IN RELATION TO LOSS ARISING FROM NATURAL CATASTROPHE AND MAN MADE EVENTS INVOLVE COMPLEX FACTORS POTENTIALLY CONTRIBUTING TO THESE TYPES OF LOSS, AND WE CAUTION AS TO THE PRELIMINARY NATURE OF THE INFORMATION USED TO PREPARE ANY SUCH ESTIMATES.
THESE FORWARD-LOOKING STATEMENTS SPEAK ONLY AS AT THE DATE OF PUBLICATION. LANCASHIRE HOLDINGS LIMITED 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.