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Lancashire Holdings Ltd (LRE.L)

LRE.L on London Stock Exchange

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Summary

Name Age Since Current Position

Peter Clarke

2016 Non-Executive Independent Chairman of the Board

Alexander Maloney

45 2014 Chief Executive Officer, Executive Director

Elaine Whelan

44 2013 Chief Financial Officer, Executive Director

Paul Gregory

2014 Group Chief Underwriting Officer

Christopher Head

49 2012 Company Secretary

Michael Dawson

57 2016 Non-Executive Independent Director

Simon Fraser

54 2014 Senior Independent Non-Executive Director

Samantha Hoe-Richardson

45 2013 Non-Executive Independent Director

Robert Lusardi

59 2016 Non-Executive Independent Director

Sally Williams

2019 Non-Executive Independent Director

Jelena Bjelanovic

2019 IR Contact Officer

Biographies

Name Description

Peter Clarke

Mr. Peter L. Clarke serves as Non-Executive Independent Chairman of the Board of the Company. Peter Clarke was Group Chief Executive of Man Group plc between April 2007 and February 2013. In 1993, Mr Clarke joined Man Group plc, a leading global provider of alternative investment products and solutions as well as one of the world’s largest futures brokers. He was appointed to the board in 1997 and served in a variety of roles, including Head of Corporate Finance and Corporate Affairs and Group Company Secretary, before becoming the Group Finance Director in 2000. During this period he was responsible for investing in and developing one of the leading providers of third-party capital insurance and reinsurance products. In November 2005, he was given the additional title of Group Deputy CEO. Mr Clarke has previously served as the Chairman of the National Teaching Awards Trust. Mr Clarke took a first in Law at Queens’ College, Cambridge and is a qualified solicitor, having practised at Slaughter and May, and has experience in the investment banking industry, working at Morgan Grenfell and Citibank. Mr Clarke is currently a Non- Executive Director of RWC Partners Limited, Lombard Odier Asset Management and Sainsbury’s Bank plc. He is a member of the Treasury Committee of King’s College London.

Alexander Maloney

Mr. Alexander Terence Maloney serves as Chief Executive Officer, Executive Director of the Company. 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. Mr Maloney has also been closely involved in the development of the Group’s Lloyd’s strategy. Mr Maloney has over 20 years’ underwriting experience and has also worked in the New York and Bermuda markets.

Elaine Whelan

Ms. Elaine Whelan is no longer Chief Financial Officer, Executive Director of the Company, effective February 2020. Elaine Whelan joined Lancashire in March 2006 and leads both the Group finance function and the Bermuda subsidiary, reporting to the Group Chief Executive Officer. Ms Whelan was previously Chief Accounting Officer of Zurich Insurance Company, Bermuda Branch. Prior to joining Zurich, Ms Whelan was an Audit Manager at PricewaterhouseCoopers, Bermuda, where she managed a portfolio of predominantly (re)insurance and captive insurance clients. Ms Whelan graduated from the University of Strathclyde in 1994 with a BA in Accounting and Economics and gained her Chartered Accountancy qualification from the Institute of Chartered Accountants of Scotland in 1997.

Paul Gregory

Mr. Paul Gregory is a Group Chief Underwriting Officer of Lancashire Holdings Limited. He joined Lancashire in May 2007 as a member of the underwriting team and was responsible for underwriting the Energy account and assisting in the development of Lancashire Middle East. In January 2009, Paul was appointed Chief Underwriting Officer for Lancashire Insurance Company (UK) Limited and is responsible for all lines of business written from the Lancashire London office. Paul graduated in Finance from the University of Birmingham and participated in the Marsh Graduate Scheme in 2001 as an Account Executive in the Energy Team which was followed by experience as an Underwriter in the Energy team at AIG in 2005. Paul has also worked closely with the Cathedral management team in the development of Syndicate 3010 and the Group's Lloyd's strategy.

Christopher Head

Mr. Christopher Head serves as Company Secretary of the Company. Christopher Head joined Lancashire in September 2010. He was appointed Company Secretary of LHL in 2012 and advises on issues of corporate governance and generally on legal affairs for the Group. He also advises on the structuring of Lancashire’s third-party capital underwriting initiatives which have included the Accordion and Kinesis facilities. Prior to joining Lancashire, he was in-house Counsel with the Imagine Insurance Group, advising specifically on the structuring of reinsurance transactions. He transferred to Max at Lloyd’s in 2008 as Lloyd’s and London Counsel. Between 1998 and 2006, Mr Head was Legal Counsel at KWELM Management Services Limited, where he managed an intensive programme of reinsurance arbitration and litigation for insolvent members of the HS Weavers underwriting pool. Mr Head is a qualified solicitor having worked until 1998 at Barlow Lyde & Gilbert in the Reinsurance and International Risk Team. Mr Head has a History MA and legal qualification from Cambridge University.

Michael Dawson

Mr. Michael G. Dawson serves as Non-Executive Independent Director of the Company. Mr. Dawson has more than 35 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. 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. Mr Dawson is a Non-Executive Director of Pool Re (Nuclear) Limited and Deputy Chairman of the management committee of Nuclear Risk Insurers Limited.

Simon Fraser

Mr. Simon W. D. Fraser serves as Senior Independent Non-Executive Director of the Company. Mr. Fraser Fraser was Head of Corporate Broking at Merrill Lynch and subsequently Bank of America Merrill Lynch until his retirement in 2011. He began his career in the City in 1986 with BZW and joined Merrill Lynch in 1997. He led initial public offerings, rights issues, placings, demergers and mergers and acquisitions transactions during his career and advised many UK companies on stock market and LSE issues. Mr Fraser has an MA degree in Modern History from the University of St Andrews. Mr Fraser is also a Non-Executive Director of Legal and General Investment Management (Holdings) Limited and Senior Independent Director of Derwent London plc, where he sits on the Remuneration, Audit and Nominations Committees. Mr Fraser also serves as a Non-Executive Director of CUL.

Samantha Hoe-Richardson

Ms. Samantha Hoe-Richardson serves as Non-Executive Independent Director of the Company. Samantha Hoe-Richardson has been Chairman of the Audit Committee since 2014. She was Head of Environment & Sustainability for Network Rail and prior to that Head of Environment for Anglo American plc, one of the world’s leading mining and natural resources companies. She was also a director and founder of Anglo American Zimele Green Fund (Pty) Ltd, which supports entrepreneurs in South Africa. Prior to her role with Anglo American, Ms Hoe-Richardson worked in investment banking and audit and she holds a masters degree in Nuclear and Electrical Engineering from the University of Cambridge. She also has a Chartered Accountancy qualification. Ms Hoe-Richardson is a Non-Executive Director of Unum Ltd and Unum European Holding Company Ltd. Unum is one of the UK’s leading employee benefits providers through the workplace. Ms Hoe-Richardson is also a Non-Executive Director of LUK.

Robert Lusardi

Mr. Robert R. Lusardi serves as Non-Executive Independent Director of the Company. Robert Lusardi spent the first phase of his career as a senior investment banker specialising in the insurance and asset management industries. From 1998 until 2005 he was a member of the Executive Management Board of XL Group plc, first as Group CFO then as a segment CEO; 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 LLC (a private insurance entity). He has been a director of ten insurance-related entities. He received his BA and MA degrees in Engineering and Economics from Oxford University and his MBA from Harvard University. Mr Lusardi is currently a private investor and has spent his career as a senior executive in the financial services industry. He is also on the boards of Symetra Financial Holdings, Inc., a life insurer, and Oxford University’s 501(c)3 charitable organization.

Sally Williams

Ms. Sally Williams is Non-Executive Independent Director of the Company. Sally Williams joined the Marsh Group in 2015 where she served on the board of Marsh Ltd as a director with responsibility for Risk and Governance acting as the main business interface for Marsh Ltd with the FCA. She resigned from her directorships at Marsh with effect from 21 December 2018 and assumed her Non-Executive Directorship of LHL on 14 January 2019. Ms Williams joined Marsh from National Australia Bank and previously held senior risk positions with Aviva. Ms Williams is a chartered accountant and spent the first 15 years of her career with PricewaterhouseCoopers (PwC), where she was a director specialising in financial services risk management and regulatory relationships. She also undertook a two year secondment from PwC to the Supervision and Surveillance Department at the Bank of England. Ms Williams is a Non- Executive Director of OneFamily, where she is a member of the Audit Committee, Risk Committee and Nominations Committee.

Jelena Bjelanovic

Basic Compensation