Board

Alex Maloney joined Lancashire in December 2005 and was appointed Group Chief Executive Officer in April 2014. On joining, Mr Maloney was responsible for establishing and building the energy underwriting team and account and, in May 2009, was appointed Group Chief Underwriting Officer. Since November 2010, Mr Maloney has served as a member of the Board and was appointed Chief Executive Officer of Lancashire Insurance Company (UK) Limited in 2012. Mr Maloney has over 30 years’ underwriting experience and has also worked in the New York and Bermuda markets.

Natalie Kershaw joined Lancashire in December 2009 as the Group Financial Controller and has also held the positions of Chief Financial Officer of Lancashire Insurance Company Limited and Group Chief Accounting Officer. She has over 20 years’ experience of the insurance/reinsurance sector with previous roles at Swiss Re, ALAS (Bermuda) Ltd and PwC. Natalie graduated from Jesus College, Oxford University in 1996 with a first class degree in Geography and is a Fellow of the Institute of Chartered Accountants in England and Wales. Natalie Kershaw was appointed to the Board of Lancashire Holdings Limited as an Executive Director on 1 March 2020.

Paul Gregory has led the underwriting operations of the Lancashire Group since May 2014 as Group Chief Underwriting Officer. Paul joined Lancashire in 2007 as part of the team responsible for underwriting the energy portfolio. In January 2009, he was appointed Chief Underwriting Officer of Lancashire Insurance Company (UK) Ltd and was responsible for all business underwritten from the platform. Paul also served as Chief Executive Officer of Lancashire Insurance Company (UK) Ltd between 2014 and 2019. Paul has been a member of the Lancashire Holdings board’s Underwriting and Underwriting Risk Committee since 2010 and has served as Chief Executive Officer of Lancashire Capital Management (LCM) since 2021. Prior to working at Lancashire, Paul was an energy underwriter at AIG and he started his career at Marsh as an Account Executive in the Energy team as part of the Marsh graduate scheme.

Philip Broadley was appointed as a Non-Executive Director to the Board on 8 November 2023. He assumed the role of Chair on 1 May 2024. Mr. Broadley was Group Finance Director of Prudential plc from 2000 until 2008 and subsequently held the same position at Old Mutual plc from 2008 until 2014. He has served as Chairman of 100 Group of Finance Directors and as a member of the Code Committee of The Takeover Panel. He chaired the Group Audit Committee of Legal & General for six years. Prior to his board roles, Mr. Broadley began his career at Arthur Andersen in 1983, becoming a partner in 1993, where he specialised in auditing banks and insurance companies. Mr. Broadley is a Fellow of the Institute of Chartered Accountants in England and Wales. Mr. Broadley graduated in Philosophy, Politics and Economics from St. Edmund Hall, Oxford, where he is now a St. Edmund Fellow. He holds an MSc in Behavioural Science from the London School of Economics. External appointments/Other Roles: Mr. Broadley is Senior Independent Director and Audit Committee Chair at AstraZeneca PLC and a Non-Executive Director of Legal & General Group Plc.

Bob Cox is an experienced insurance underwriter and senior manager with experience of US and international insurance markets. Mr Cox was appointed by resolution of the LHL Board on 5 November 2024 and became a Non-Executive Director of LHL with effect from 1 January 2025. Bob Cox joined Markel in 2018 as the President and Chief Operating Officer, Insurance Operations and stepped down from that role in December 2023. During his tenure, Mr Cox oversaw Markel's global insurance operations, including its specialty and international divisions and served on several subsidiary boards across the Markel group. He played a key strategic and operational role during a period of significant growth and profitability. Prior to joining Markel, during a long career at Chubb, Mr Cox served in a number of leadership positions within Chubb Specialty Insurance including roles as Chief Underwriting Officer and later as the Chief Operating Officer. Bob Cox was first employed by the Chubb group in 1981, as an underwriter in Chubb’s Department of Financial Institutions. He specialised in underwriting Directors and Officers (D&O) and Errors and Omissions (E&O) insurance, while also gaining knowledge of other lines of insurance for financial institution clients in US and international risk. Bob also serves as a director on the Board of American Bankers Mutual Insurance Company Limited, based in Bermuda.

Michael Dawson has more than 40 years’ experience in the insurance industry, having started his career at Lloyd’s in 1979. He joined Cox Insurance in 1986 where he was the Chief Executive from 1995 to 2002. In 1991, Mr Dawson formed and became the underwriter of Cox’s and subsequently Chaucer’s specialist nuclear syndicate 1176, where he remains the active underwriter. Between 2005 and 2008, Mr Dawson was appointed Chief Executive of Goshawk Insurance Holdings PLC and its subsidiary Rosemont Re, a Bermuda reinsurer. Mr Dawson served on the Council of Lloyd’s from 1998 to 2001 and on the Lloyd’s Market Board from 1998 to 2002. External appointments/Other roles: Mr Dawson is Deputy Chairman of the Management Committee of Nuclear Risk Insurers Limited. He is also a director of Knoll Investments Limited, and Glengau Limited, all private family companies.

Jack Gressier has over thirty years’ experience in the insurance industry, including as Chief Operating Officer of Axis Capital Holdings Ltd. and the Chief Executive Officer of its Insurance segment. He served as an underwriter at Charman Underwriting Agencies from 1989 until 1998, when acquired by ACE Limited. At ACE, he served in a number of senior roles including as a member of the Global Markets Executive Underwriting Committee and was appointed Joint Active Underwriter of Syndicate 2488 and director of the ACE Agency Board, where he served until joining AXIS in 2002. External appointments/Other roles: Currently serving as Non-Executive Chair to strategic intelligence firm, Herminius Holdings Ltd. Previous Non-Executive appointments include Chair of Syndicate Holdings Corp, the holding company for the Lloyd’s managing agency, Vibe Syndicate Management. In addition, Jack served as Non-Executive Chair of Limehouse Agencies Limited.

Bryan is a Fellow of the Institute and Faculty of Actuaries with over forty years of experience in the insurance and reinsurance industry. Having started his career as a trainee actuary in Legal & General, Bryan held a number of senior roles in the industry including partner and global chief actuary for PwC. Bryan left PwC in 2015 and founded Vario Partners LLP, an ILS consultancy specialising in transforming underwriting risk into capital markets. In 2016 Bryan joined XL Catlin (now AXA XL) as an independent non-executive director serving in a variety of non-executive director and committee chair roles within the AXA XL group including as Chair of the UK audit committees, and as Chair of XL Insurance Company SE, the group’s European and Asia Pacific focused entity, overseeing its move to the Republic of Ireland and merger with AXA. Bryan stepped down from all AXA XL Directorships in 2023 to take on his role with Lancashire. Other roles: Bryan remains a partner on Vario Partners LLP and a director of Vario Global Capital Limited, the Vario operating company. Bryan was appointed as a Non-Executive Director for Sabre Insurance Group plc in June 2023 and as the company’s Senior Independent Director in May 2024.

From 1980 until 1998, Robert Lusardi was an investment banker in New York, ultimately as a Managing Director specializing in the insurance and asset management industries. From 1998 until 2005, he was a member of the Executive Management Board of XL Group Ltd. (now AXA-XL Group), first as Group CFO then as CEO of one of their three operating/reporting segments; from 2005 until 2010 he was an EVP of White Mountains (an insurance merchant bank) and CEO of certain subsidiaries; and from 2010 to 2015 he was CEO of PremieRe Holdings, a private insurance entity. He has been a director of a number of insurance-related entities including Symetra Financial Corporation, Primus Guaranty Ltd., OneBeacon Insurance Group Ltd., Esurance Inc., Delos Inc., Pentelia Ltd. and FSA International Ltd. He received a BA and MA degree in Engineering and Economics from Oxford University, an MBA from Harvard University and a PhD from Barry University. External appointments/Other roles: He is a board member of Oxford University’s 501(c)3 charitable donations entity.

Irene McDermott Brown most recently held the position of Chief Human Resources Officer at M&G plc, a FTSE 100 international savings and investments firm, retiring from that role on 31 December 2021. Her executive career has included international Human Resources roles at Barclays, BP, and Cable and Wireless. Ms McDermott Brown’s UK experience includes over 12 years at Mercury Communications, Digital Equipment Company and the Electricity Supply Industry. She has an MSc from the London School of Economics in Industrial Relations and is a Fellow of the Chartered Institute of Personnel and Development.

Nathalie Rachou has strong asset management and capital markets experience, with commercial and financial expertise across several sectors including as a senior manager and entrepreneur. Ms Rachou was appointed as a Non-Executive Director of LHL on 5 November 2024. In 2020, Nathalie joined the board of UBS Group AG, based in Switzerland, and serves on the audit committee and the governance and nominations committee. Since 2019 Nathalie Rachou has served as a member of the supervisory board of Euronext NV, where she chairs the remuneration committee and is a member of the nomination and governance committee, the audit committee and the risk committee. Ms Rachou has previously served as a non-executive director of Veolia Environnement (2012 to 2024) where she also served as audit committee chair, Laird Group plc (2015 to 2018), Altran SA (2012 to 2020) where she also served as audit committee chair, and Société Générale (2008 to 2020) where she also served as the risk committee chair. Since 2023 Ms Rachou has served on the board of Fondation Leopold Bellan. Nathalie Rachou worked at Banque Indosuez and Crédit Agricole Indosuez from 1978 until 1999, in a series of roles based in London and Paris, where she gained experience in capital markets. She was company secretary, from 1991 to 1996, and, from 1996 to 1999, served as Global head of foreign exchange and foreign exchange options, based in the UK. In 1999, Ms Rachou founded Topiary Finance Ltd, an asset management company based in London, of which she remained the CEO until its merger with Rouvier Associés in 2015. At Rouvier Associés-Clartan Ms Rachou was a senior advisor until 2020. Ms Rachou has a Masters in Management at Ecole des Hautes Etudes Commerciales (HEC) and completed an executive programme at INSEAD.

Linda Ventresca is an experienced senior leader in the insurance industry having worked at AXIS Capital from 2003 to 2023. She most recently served as Head of Digital at AXIS Capital and previously held a number of leadership roles at AXIS, including Chief Strategy Officer, Chief Transformation Officer and Head of Corporate Development and Investor Relations and served as a director of Axis Reinsurance Company. She joined AXIS Capital from MMC Capital (predecessor firm to Stone Point Capital) where she was a private equity investment associate integrally involved in the formation of AXIS Capital. Ms. Ventresca commenced her career as an analyst in the financial institutions investment banking operations of UBS Securities, LLC and Donaldson, Lufkin & Jenrette. She has served as a director on a number of boards and in an advisory capacity, with a focus in the insurance sector. Ms. Ventresca is a member of the board of Velocity Holdco., LLC, the holding company of a managing general agency/carrier hybrid specializing in excess and surplus lines insurance for the US property market. She holds an M.B.A from Columbia Business School and a B.S.E. in bioengineering from the University of Pennsylvania.

Sally Williams is an experienced audit committee chair with extensive risk, compliance and governance experience, having held senior positions with Marsh, National Australia Bank and Aviva. Ms Williams is a chartered accountant and spent the first 15 years of her career with PwC, where she held senior roles in their financial services risk management and audit practices. She also undertook a two-year secondment from PwC to the Bank of England. Ms Williams is also a Director of Lancashire Insurance Company (UK) Limited where she chairs the audit committee. External appointments/Other roles: Ms Williams is a Non-Executive Director of Family Assurance Friendly Society Limited (OneFamily), where she is chair of both the Audit Committee and the With Profits Committee, and a member of the Risk, Nominations and Member & Customer Committees. Ms Williams is also a Non-Executive Director of Close Brothers Group plc and Close Brothers Limited, where she is a member of the Audit and Risk Committees. Ms Williams is a Trustee of the charity Ovarian Cancer Action, where she chairs the Audit and Risk Committee.