Security and Credit Ratings

Lancashire Insurance Company (UK) Limited and Lancashire Insurance Company Limited

A.M. Best Company ("AM Best") has assigned an A (Excellent) financial strength rating on Lancashire Insurance Company Limited and Lancashire Insurance Company (UK) Limited. AM Best has also assigned a "bbb+" issuer credit rating on Lancashire Holdings Limited. The outlook on the financial strength rating and the issuer credit rating are both stable.

Standard & Poor's Global Ratings ("S&P") has assigned an A minus financial strength rating on Lancashire Insurance Company Limited and Lancashire Insurance Company (UK) Limited. S&P has also assigned a "BBB" long-term issuer rating on Lancashire Holdings Limited. The outlook on all entities is stable.

Moody’s Investor Service ("Moody’s") has assigned an "A3" financial strength rating to Lancashire Insurance Company Limited and Lancashire Insurance Company (UK) Limited. Moody’s has also assigned a "Baa2" long-term issuer rating on Lancashire Holdings Limited. The outlook on all entities is stable.