Business
Statement re A.M. Best rating upgrade
Statement re A.M. Best rating upgrade.
About this update from Lancashire Holdings Limited
[{"type":"text","content":"\n \n Lancashire Holdings Limited \n\n22 June 2011\nHamilton, Bermuda\n\n Lancashire Holdings Limited announces A.M. Best financial strength rating \n upgrade to A (Excellent) with stable outlook \n\nLancashire Holdings Limited (\"Lancashire Holdings\") today announced that the\nA.M. Best rating service has upgraded the financial strength rating to A\n(Excellent) from A- (Excellent) and issuer credit ratings (ICR) to \"a\" from\n\"a-\" of the Lancashire group insurance operating subsidiaries Lancashire\nInsurance Company Limited (based in Hamilton, Bermuda) and Lancashire Insurance\nCompany (UK) Limited (based in the United Kingdom).\n\nAdditionally, A.M. Best has upgraded the issuer credit rating for Lancashire\nHoldings to \"bbb\" from \"bbb-\" (Good) and the debt rating on $130.8 million 3.7%\nsubordinated notes issued by Lancashire Holdings due in 2035 has been upgraded\nto \"bbb-\" from \"bb+\".\n\nThe outlook for all ratings has been revised to stable from positive.\n\nFor further information, please contact:\n\nLancashire Holdings \nElaine Whelan + 441 278 8964 \n \nJonny Creagh-Coen + 44 (0)207 264 4066 \n \nHaggie Financial \nPeter Rigby +44 (0)20 7417 8989 \n\nAbout Lancashire\n\nLancashire, through its UK and Bermuda-based insurance subsidiaries, is a\nglobal provider of specialty insurance products. The Group companies carry the\nfollowing ratings:\n\n Financial Long Term Issuer Outlook \n Strength \n Rating (2) \n Rating (1) \n \nA.M. Best A bbb Stable \n \nStandard & Poor's A- BBB Stable \n \nMoody's A3 Baa2 Stable \n\n(1)Financial Strength Rating applies to Lancashire Insurance Company Limited\nand Lancashire Insurance Company (UK) Limited\n\n(2) Long Term Issuer Rating applies to Lancashire Holdings Limited\n\nLancashire has capital in excess of $1 billion and its Common Shares trade on\nthe main market of the London Stock Exchange under the ticker symbol LRE.\nLancashire has its corporate headquarters at Power House, 7 Par-la-Ville Road,\nHamilton HM 11, Bermuda. The mailing address is Lancashire Holdings Limited,\nP.O. Box HM 2358, Hamilton HM HX, Bermuda. For more information on Lancashire,\nvisit the Company's website at www.lancashiregroup.com\n\nLancashire Insurance Company Limited is regulated by the Bermuda Monetary\nAuthority in Bermuda.\n\nLancashire Insurance Company (UK) Limited is regulated by th...