LANCASHIRE HOLDINGS LIMITED

6 November 2024

Hamilton, Bermuda

Lancashire Holdings Limited (“Lancashire” or “the Group”) today announces its trading statement for the nine months ended 30 September 2024.

Trading statement highlights

Gross premiums written increased by 9.0% year-on-year to $1.7 billion, insurance revenue increased by 16.8% year-on-year to $1.3 billion. Net losses relating to recent weather events expected to be between $110 million to $140 million. Total investment return of 5.0%, including unrealised gains and losses. Special dividend of 75 cents per common share, or $180 million, following a strong operating performance year-to-date. Guidance: ROE for the year affirmed, combined ratio expected at higher end of range.

Alex Maloney, Group Chief Executive Officer, commented:

“I am pleased to report that Lancashire is in excellent shape as we approach the final months of 2024.

Over the past few years, we have successfully made our business more resilient to withstand volatility and deliver more sustainable returns for investors. We expect to deliver in line with our ROE guidance for the year.

In terms of gross premiums written in the first nine months of 2024, Lancashire continued to grow ahead of rate increasing premiums by 9% to $1.7 billion.

The devastation caused by the recent weather events in the U.S. and other catastrophes has been tragic and our thoughts are with all those affected. Instances like these show the value of (re)insurance products in supporting communities to help them rebuild after major catastrophe events.

In the year-to-date, the industry has seen an elevated catastrophe and risk loss environment, but we still expect our undiscounted combined ratio to be at the higher end of our range for the full year. This is testament to our diversification strategy, and the quality of the business we have written. Our estimated ultimate net losses incurred in relation to recent weather events including hurricanes Milton, which occurred in the fourth quarter, Helene, Debby and storm Boris, and the Calgary hailstorms, are expected to be in the range of $110 million to $140 million.

Our strong underwriting results during the period have continued to be supported by our growing investment portfolio, which has now reached $3.2 billion, and has delivered a healthy return of 5% for the year to date.

Following our strong operating performance, I am pleased to announce the approval of a special dividend of 75 cents per share, which will result in an aggregate payment of approximately $180 million. We continue to hold an extremely robust capital position to underwrite the growth opportunities we expect to see in 2025.

Lancashire’s long-term strategy has always been to actively manage the market cycle and deliver strong profitability by taking advantage of opportunities in positive underwriting conditions. We will continue to do that during the remainder of 2024 and into 2025. We have talented and fully-committed teams across our Group and our strong balance sheet and capital base give us added confidence in our ability to drive the business forward.

I would like to thank all my colleagues at Lancashire for their hard work so far this year and all our stakeholders for their continued support.”

Business update

Gross premiums written and insurance revenue

Nine months ended 30 September 2024 30 September 2023 Change Change RPI $m $m $m % % Reinsurance                941.2                837.7                103.5 12.4% 101%  Insurance                758.8                722.2                  36.6 5.1%  102%  Gross premiums written             1,700.0             1,559.9                140.1 9.0% 102% Reinsurance                629.3                521.7                107.6 20.6% Insurance                668.7                589.5                  79.2 13.4% Insurance revenue             1,298.0             1,111.2                186.8 16.8%

Gross premiums written

Gross premiums written increased by $140.1 million, or 9.0%, in the first nine months of 2024 compared to the same period in 2023. The most significant driver of growth in the reinsurance segment was new business in the property reinsurance and specialty reinsurance classes. The property insurance portfolio was the main driver of growth within the insurance segment with new business coming through from the Lancashire U.S. and Lancashire Australia distribution channels.

Insurance revenue

Insurance revenue increased by $186.8 million, or 16.8%, in the first nine months of 2024 compared to the same period in 2023. Growth was more significant for insurance revenue than for gross premiums written due to the recognition of earnings coming through from prior years.

Loss environment

During an active third quarter for catastrophe loss events, the Group had exposure to losses in respect of hurricanes Helene and Debby, the Calgary hailstorm, and storm Boris. These events were then followed by hurricane Milton in October. The estimated ultimate net losses incurred in respect of all these weather events (undiscounted, including reinstatement premiums) is expected to be within the range of $110 million to $140 million. Loss information after these types of events can take some time to emerge. As additional information becomes available, the Group’s actual ultimate net losses may vary, perhaps materially, from current estimates.

During the first nine months of 2024, the Group also experienced net losses (undiscounted, including reinstatement premiums) from large risk events totaling $72.8 million. None of these were individually material for the Group, with the MV Dali Baltimore bridge collision loss being the most significant.

Investments

As at 30 September 2024 30 September 2023 Duration 1.9 years 1.6 years Credit quality AA- AA- Book yield 4.8% 3.9% Market yield 4.7% 5.8% Managed investments ($m) $3,207.2 $2,661.4

The Group’s investment portfolio, including unrealised gains and losses, returned 5.0% for the first nine months of 2024. The positive returns were driven by investment income as our portfolio benefited from higher yields in conjunction with higher prices from falling treasury rates and modest tightening of investment grade credit spreads. Additionally, our bank loans and private investment funds had strong returns.

Dividends

Lancashire’s Board of Directors has declared a special dividend of 75 cents per common share (approximately 58 pence per common share at the current exchange rate), which will result in an aggregate payment of approximately $180 million. The dividend will be paid in Pounds Sterling on 13 December 2024 (the “Dividend Payment Date”) to shareholders of record on 15 November 2024 (the “Record Date”) using the £ / $ spot market exchange rate at 12 noon London time on the Record Date. Shareholders interested in participating in the dividend reinvestment plan (“DRIP”), or other services including international payment, are encouraged to contact the Group’s registrars, Link Asset Services, for more details.

Analyst and Investor Conference Call

There will be an analyst and investor conference call on the trading statement at 1:00pm UK time / 9:00am Bermuda time / 8:00am EST on Wednesday 6 November 2024. The conference call will be hosted by Lancashire management and a presentation will be made available on the Group’s website prior to the call.

Participant Access

Please note that conference call participants are required to register in advance to access either the audio conference call or webcast, the full registration and access details are set out below. 

Audio access: https://pinconnect.conferenceconsole.com/PINConf?597807ca-0904-47f0-bcaa-97da20a88925 Please register to obtain your personal audio conference pin and call details. Webcast access: https://onlinexperiences.com/scripts/Server.nxp?LASCmd=AI:4;F:QS!10100&ShowUUID=6D975C29-0458-41DA-94CA-72041590C2B1 Please use this link to register and access the call via webcast.

A webcast replay facility will be available for 12 months and accessible at: https://www.lancashiregroup.com/en/investors/results-reports-and-presentations.html

Contact information  

Lancashire Holdings Limited Christopher Head

+44 20 7264 4145

chris.head@lancashiregroup.com

Jelena Bjelanovic

+44 20 7264 4066

jelena.bjelanovic@lancashiregroup.com

FTI Consulting    +44 20 37271046   Edward Berry Edward.Berry@FTIConsulting.com Tom Blackwell Tom.Blackwell@FTIConsulting.com

About Lancashire

Lancashire, through its operating subsidiaries, is a provider of global specialty insurance and reinsurance products.

Lancashire common shares trade in the equity shares (commercial companies) category of the Main Market of the London Stock Exchange under the ticker symbol LRE. Lancashire has its head office and registered office at Power House, 7 Par-la-Ville Road, Hamilton HM 11, Bermuda.

The Bermuda Monetary Authority is the Group Supervisor of the Lancashire Group.

For more information, please visit Lancashire’s website at www.lancashiregroup.com.

NOTE REGARDING RPI METHODOLOGY:

THE RENEWAL PRICE INDEX (“RPI”) IS AN INTERNAL METHODOLOGY THAT MANAGEMENT USES TO TRACK TRENDS IN PREMIUM RATES OF A PORTFOLIO OF INSURANCE AND REINSURANCE CONTRACTS. THE RPI WRITTEN IN THE RESPECTIVE SEGMENTS IS CALCULATED ON A PER CONTRACT BASIS AND REFLECTS MANAGEMENT’S ASSESSMENT OF RELATIVE CHANGES IN PRICE, TERMS, CONDITIONS AND LIMITS AND IS WEIGHTED BY PREMIUM VOLUME. THE RPI DOES NOT INCLUDE NEW BUSINESS, TO OFFER A CONSISTENT BASIS FOR ANALYSIS. THE CALCULATION INVOLVES A DEGREE OF JUDGEMENT IN RELATION TO COMPARABILITY OF CONTRACTS AND THE ASSESSMENT NOTED ABOVE. TO ENHANCE THE RPI METHODOLOGY, MANAGEMENT MAY REVISE THE METHODOLOGY AND ASSUMPTIONS UNDERLYING THE RPI, SO THE TRENDS IN PREMIUM RATES REFLECTED IN THE RPI MAY NOT BE COMPARABLE OVER TIME. CONSIDERATION IS ONLY GIVEN TO RENEWALS OF A COMPARABLE NATURE SO IT DOES NOT REFLECT EVERY CONTRACT IN THE PORTFOLIO OF CONTRACTS. THE FUTURE PROFITABILITY OF THE PORTFOLIO OF CONTRACTS WITHIN THE RPI IS DEPENDENT UPON MANY FACTORS BESIDES THE TRENDS IN PREMIUM RATES.

NOTE REGARDING ALTERNATIVE PERFORMANCE MEASURES:

THE GROUP USES ALTERNATIVE PERFORMANCE MEASURES TO HELP EXPLAIN BUSINESS PERFORMANCE AND FINANCIAL POSITION. THESE MEASURES HAVE BEEN CALCULATED CONSISTENTLY WITH THOSE AS DISCLOSED IN THE GROUP’S ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 AND THE GROUP’S UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDING 30 JUNE 2024.

NOTE REGARDING FORWARD-LOOKING STATEMENTS:

CERTAIN STATEMENTS AND INDICATIVE PROJECTIONS (WHICH MAY INCLUDE MODELLED 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”, “AIMS”, “ANTICIPATES”, “PLANS”, “PROJECTS”, “FORECASTS”, “GUIDANCE”, “INTENDS”, “EXPECTS”, “ESTIMATES”, “PREDICTS”, “MAY”, “CAN”, “LIKELY”, “WILL”, “SEEKS”, “SHOULD”, OR, IN EACH CASE, THEIR NEGATIVE OR COMPARABLE TERMINOLOGY. 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. FOR A DESCRIPTION OF SOME OF THESE FACTORS, SEE THE GROUP’S ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 AND THE GROUP’S UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL

STATEMENTS FOR THE SIX MONTHS ENDING 30 JUNE 2024. IN ADDITION TO THOSE FACTORS CONTAINED IN THE GROUP’S 2023 ANNUAL REPORT AND ACCOUNTS AND THE GROUP’S UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDING 30 JUNE 2024, ANY FORWARD-LOOKING STATEMENTS CONTAINED IN THIS RELEASE MAY BE AFFECTED BY: THE ACTUAL DEVELOPMENT OF LOSSES AND EXPENSES IMPACTING ESTIMATES FOR CLAIMS WHICH ARISE AS A RESULT OF HURRICANE MILTON (WHICH OCCURRED IN OCTOBER 2024), HURRICANES DEBBY AND HELENE, THE CALGARY HAILSTORMS AND EUROPEAN STORM BORIS (WHICH OCCURRED IN THE SECOND QUARTER OF 2024), THE IMPACT OF THE COLLAPSE OF THE FRANCIS SCOTT KEY BRIDGE IN BALTIMORE WHICH OCCURRED IN THE FIRST QUARTER OF 2024; AND THE FURTHER ESCALATION OF HOSTILITIES IN THE MIDDLE EAST AND ITS IMPACT ON THE STABILITY OF THE REGION, GLOBAL SUPPLY ROUTES AND INSURANCE AND FINANCIAL MARKETS. ALL FORWARD-LOOKING STATEMENTS IN THIS RELEASE OR OTHERWISE SPEA

LANCASHIRE HOLDINGS LIMITED

6 November 2024

Hamilton, Bermuda

Non-Executive Director appointments and Board succession planning

Lancashire Holdings Limited (the “Company”) is pleased to announce the appointment of two new Non-Executive Directors.  Nathalie Rachou has joined the Company’s Board with effect from 5 November 2024, and Bob Cox has accepted an appointment to join the Board, to take effect on 1 January 2025. The Company has also announced details of Board succession planning for its 2025 AGM.               Details of these individuals are set out below.

Nathalie RachouNathalie Rachou has strong asset management and capital markets experience, with commercial and financial expertise across several sectors including as a senior manager and entrepreneur.  She holds directorships on the boards of UBS Group AG and Euronext NV. She has previously served on the boards of Veolia Environnement, Laird Group plc, Altran SA, and Société Générale.

Nathalie Rachou worked at Banque Indosuez and Crédit Agricole Indosuez from 1978 until 1999, where she gained experience in a number of senior roles.  In 1999, Ms Rachou founded Topiary Finance Ltd, an asset management company based in London, serving as CEO until its merger with Rouvier Associés in 2015.  She served as a senior advisor at Rouvier Associés-Clartan until 2020. Bob Cox

Bob Cox is an experienced insurance underwriter and senior manager with experience of the US and international insurance markets.  He joined Markel in 2018 as 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.

Prior to joining Markel, 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. Earlier in his career at Chubb he specialised as an underwriter in directors and officers and errors and omissions lines.  He has extensive experience of insuring financial institutions and in US and international casualty lines.Other Board succession plans

Rob Lusardi and Michael Dawson have each served as Non-Executive Directors on the Lancashire Board for over eight years. In accordance with recommended UK governance practice, both Mr. Lusardi and Mr. Dawson have decided not to submit themselves for re-election and to step down as Directors at the 2025 AGM, which is planned for the 30th April 2025. 

Philip Broadley, Lancashire’s Chair, said:

“The Board is delighted to welcome both Nathalie and Bob as directors. These are important appointments in our long term succession planning for the business. 

Nathalie’s knowledge of asset management and the operation of international capital markets will further enrich our Board’s skills.  In addition to her expertise as a chief executive, entrepreneur and business founder, she has extensive experience of governance as a director on several boards operating on both the UK and other international listed markets. Bob brings invaluable US and international insurance market experience with first-hand knowledge as a senior manager and underwriter.  In particular his expertise will help the Board in the development of the Group’s casualty reinsurance and insurance lines and in supporting the Group’s newly established US platform, which commenced underwriting earlier in 2024.Importantly, Alex Maloney and our leadership team will welcome the skills and experience which Nathalie and Bob bring to our Board at this exciting time for our business.Rob Lusardi and Michael Dawson will continue to serve as Directors until our 2025 AGM. So, whilst we are not yet bidding them farewell, my thanks go to them for facilitating our Board succession planning.”

Lancashire has been notified that there are no further details required to be disclosed with respect to the appointments of Ms Rachou and Mr Cox pursuant to paragraph 6.4.8R of the Listing Rules.

Lancashire also today announces that Linda Ventresca, Non-Executive Director, has been appointed as a member of the Audit Committee and Investment Committee.

For further information, please contact:

Lancashire Holdings Limited

Christopher Head

+44 20 7264 4145

chris.head@lancashiregroup.com

Jelena Bjelanovic

+44 20 7264 4066

jelena.bjelanovic@lancashiregroup.com

About Lancashire

Lancashire, through its operating subsidiaries, is a provider of global specialty insurance and reinsurance products.

Lancashire’s common shares trade in the equity shares (commercial companies) category of the Main Market of the London Stock Exchange under the ticker symbol LRE. Lancashire has its head office and registered office at Power House, 7 Par-la-Ville Road, Hamilton HM 11, Bermuda.

The Bermuda Monetary Authority (“BMA”) is the Group Supervisor of the Lancashire Group.

For more information, please visit Lancashire’s website at www.lancashiregroup.com.

This release contains information which may be of a price sensitive nature that Lancashire is making public in a manner consistent with the UK Market Abuse Regulation and other regulatory obligations. The information was submitted for publication, through the agency of the contact persons set out above, at 7:00am GMT on 6th November 2024.

NOTE REGARDING FORWARD-LOOKING STATEMENTS:

ALL FORWARD-LOOKING STATEMENTS IN THIS ANNOUNCEMENT OR OTHERWISE 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 STATEMENT TO REFLECT ANY CHANGES IN THE GROUP’S EXPECTATIONS OR CIRCUMSTANCES ON WHICH ANY SUCH STATEMENT IS BASED.  ALL SUBSEQUENT WRITTEN AND ORAL FORWARD-LOOKING STATEMENTS ATTRIBUTABLE TO THE GROUP OR INDIVIDUALS ACTING ON BEHALF OF THE GROUP ARE EXPRESSLY QUALIFIED IN THEIR ENTIRETY BY THIS NOTE.

LANCASHIRE HOLDINGS LIMITED

 

26 September 2024

Hamilton, Bermuda

 

 Notice of Q3 2024 Trading Statement and Conference Call

Lancashire Holdings Limited (“Lancashire” or “the Company”) will be announcing its 2024 third quarter trading statement at 07:00 GMT on Wednesday 6 November and hosting an analyst and investor conference call at 13:00 GMT / 08:00am EST on Wednesday 6 November 2024. The conference call will be hosted by Lancashire management.

Please note that conference call participants are required to register in advance to access either the audio conference call or webcast, the full registration and access details are set out below.

 

Participant Registration and Access Information:

 

Audio conference

call access:

https://emportal.ink/3ziSZoA

 

Please register at this link to obtain your personal audio conference pin and call details

 

 

Webcast access:

https://onlinexperiences.com/Launch/QReg/ShowUUID=6D975C29-0458-41DA-94CA-72041590C2B1

 

 

Please use this link to register and access the call via webcast

 

A webcast replay facility will be available for 12 months and accessible at:

https://www.lancashiregroup.com/en/investors/results-reports-and-presentations.html

 

For further information, please contact:

 

Lancashire Holdings Limited

 

Christopher Head

+44 20 7264 4145

chris.head@lancashiregroup.com

 

Jelena Bjelanovic

 

+44 20 7264 4066

jelena.bjelanovic@lancashiregroup.com

 

 

About Lancashire

 

Lancashire, through its operating subsidiaries, is a provider of global specialty insurance and reinsurance products.

Lancashire’s common shares trade in the equity shares (commercial companies) category of the Main Market of the London Stock Exchange under the ticker symbol LRE. Lancashire has its head office and registered office at Power House, 7 Par-la-Ville Road, Hamilton HM 11, Bermuda.

The Bermuda Monetary Authority (“BMA”) is the Group Supervisor of the Lancashire Group.

For more information, please visit Lancashire’s website at www.lancashiregroup.com.

This release contains information, which may be of a price sensitive nature that Lancashire is making public in a manner consistent with the UK Market Abuse Regulation and other regulatory obligations. The information was submitted for publication, through the agency of the contact persons set out above, at 15:35 BST on 26 September 2024.

NOTE REGARDING FORWARD-LOOKING STATEMENTS:

ALL FORWARD-LOOKING STATEMENTS IN THIS ANNOUNCEMENT OR OTHERWISE 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 STATEMENT TO REFLECT ANY CHANGES IN THE GROUP’S EXPECTATIONS OR CIRCUMSTANCES ON WHICH ANY SUCH STATEMENT IS BASED. ALL SUBSEQUENT WRITTEN AND ORAL FORWARD-LOOKING STATEMENTS ATTRIBUTABLE TO THE GROUP OR INDIVIDUALS ACTING ON BEHALF OF THE GROUP ARE EXPRESSLY QUALIFIED IN THEIR ENTIRETY BY THIS NOTE.

 

Lancashire Holdings Limited

(the "Company") or ("LHL")

 

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

 

 

2 September 2024

Hamilton, Bermuda

The Company announces that on 29 August 2024 Bryan Joseph, Non-Executive Director, purchased 7,370 common shares of US$0.50 each in the Company at £6.7840 per share.

Following this transaction, Bryan Joseph has an interest in the Company of 12,246 common shares, representing 0.005% of the Total Voting Rights in the Company.

The notification below, made in accordance with the requirements of UK MAR, provides further detail:

 1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Bryan Joseph

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)

  £6.7840

 7,370.00

d)

Aggregated information

-          Aggregated volume

-          Price

 

7,370.00

£49,998.08

e)

Date of the transaction

2024-08-29

f)

Place of the transaction

(XLON) London Stock Exchange

 

Name of authorised official of issuer for making notification

Christopher Head

Company Secretary

2 September 2024

 

+44 20 7264 4145

chris.head@lancashiregroup.com

 

 

Lancashire Holdings Limited

(the "Company") or ("LHL")

 

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

 

 

9 August 2024

Hamilton, Bermuda

The Company announces that on 8 August 2024 Michael Dawson, Non-Executive Director, purchased 10,000 common shares of US$0.50 each in the Company at £6.10 per share. The shares are held beneficially for Michael Dawson in a Self-Invested Pension Plan.

Following this transaction, Michael Dawson has an interest in the Company of 35,000 common shares, representing 0.0143% of the Total Voting Rights in the Company.

The notification below, made in accordance with the requirements of UK MAR, provides further detail:

 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)

  £6.10

10,000

d)

Aggregated information

-          Aggregated volume

-          Price

 

10,000

 £61,000

e)

Date of the transaction

2024-08-08

f)

Place of the transaction

(XLON) London Stock Exchange

 

Name of authorised official of issuer for making notification

Christopher Head

Company Secretary

9 August 2024

+44 20 7264 4145

chris.head@lancashiregroup.com