Business
Kinesis continues with its planned mid-year off...
Kinesis continues with its planned mid-year off....
About this update from Lancashire Holdings Limited
[{"type":"text","content":"\n \n LANCASHIRE HOLDINGS LIMITED \n\n08 July 2014\nLondon, UK\n\n KINESIS CONTINUES WITH ITS PLANNED MID-YEAR OFFERING \n\nLancashire Holdings Limited (\"Lancashire\" or the \"Company\") has today announced\nthat Kinesis Capital Management Limited (\"KCM\") has carried out its \"mid-year\ndraw\", in line with its planned biannual regular offering. Investors were\ninvited to subscribe for securities in Kinesis Holdings I Limited to enable its\nsubsidiary, Kinesis Reinsurance I Limited (\"Kinesis Re\"), to underwrite fully\ncollateralised reinsurance business incepting on or around 1 July 2014. The\ncapital raise was tailored to available attractive market opportunities with a\ntotal limit of USD 50 million. \n\nDarren Redhead, KCM's Chief Executive Officer, said:\n\n\"We continue with our strategy to work with and build our panel of investors,\nproviding flexibility to expand and contract over time, dependent on the market\nopportunities that arise. With this successful mid-year draw, Kinesis has\ndeployed approximately USD 340 million of combined aggregate limits since the\nbeginning of the year.\"\n\nFor further information, please contact:\n\nLancashire Holdings Limited \n \nChristopher Head +44 20 7264 4145\n [email protected] \n \nJonny Creagh-Coen +44 20 7264 4066 \n [email protected] \n \nHaggie Partners +44 20 7562 4444 \n \nPeter Rigby (Peter Rigby mobile +44 7803851426) \n\nAbout Lancashire\n\nLancashire, through its UK and Bermuda-based operating subsidiaries, is a\nglobal provider of specialty insurance and reinsurance products. The Group\ncompanies carry the following ratings:\n\n Financial Financial Long Term \n Strength Strength Issuer \n \n Rating (1) Outlook(1) Rating (2) \n \nA.M. Best A (Excellent) Stable bbb \n \nStandard & Poor's A- Stable BBB \n \nMoody's A3 Stable Baa2 \n\n(1)Financial Strength Rating and Financial Strength Outlook apply to Lancashire\nInsurance Company Limited and Lancashire Insurance Company (UK) Limited.\n\n(2) Long Term Issuer Rating applies to Lancashire Holdings Limited.\n\nNB: Cathedral benefits from Lloyd's ratings: A.M. Best: A (Excellent); Standard\n& Poor's: A+ (Strong); and Fitch: AA-(Very Strong).\n\nLancashire has capital in excess of $1.5 billion and its common shares trade on\nthe premium segment of the Main Market of the London Stock Exchange und...