Director/PDMR Shareholding

Notification of Transactions of Directors/Persons Discharging Managerial
Responsibility and Connected Persons

1.    Name of the issuer                2.    State whether the notification   
                                              related to (i) a transaction     
      Lancashire Holdings Limited             notified in accordance with DTR  
                                              3.1.2 R, (ii) a disclosure made  
                                              in accordance with LR 9.8.6R(1)  
                                              or (iii) a disclosure made in    
                                              accordance with section 793 of   
                                              the Companies Act (2006)         
                                                                               
                                              (i)a transaction notified in     
                                              accordance with DTR 3.1.2 R      
                                                                               
3.    Name of the person discharging    4.    State whether notification       
      managerial responsibilities/            relates to a person connected    
      director                                with a person discharging        
                                              managerial responsibilities/     
      Alex Maloney (Executive Director)       director named in 3 and identify 
                                              connected person                 
                                                                               
                                              Amanda Maloney                   
                                                                               
5.    Indicate whether the notification 6.    Description of shares (including 
      is in respect of a holding of the       class), debentures or derivatives
      person referred to in 3 or 4            or financial instruments relating
      above or in respect of a                to shares                        
      non-beneficial interest                                                  
                                              Common shares of US$0.50 each    
      Persons referred to at 3 above                                           
                                                                               
7.    Name of registered shareholder(s) 8.    State the nature of the          
      and, if more than one, the number       transaction                      
      of shares held by each of them                                           
                                              Transfer of 100,000 common shares
      Alex Maloney                            from Alex Maloney to spouse      
                                              Amanda Maloney                   
      Amanda Maloney                                                           
                                                                               
9.    Number of shares, debentures or   10.   Percentage of issued class       
      financial instruments relating to       acquired (treasury shares of the 
      shares acquired                         class should not be taken into   
                                              account when calculating         
      100,000                                 percentage)                      
                                                                               
                                              0.0617%                          
                                                                               
11.   Number of shares, debentures or   12.   Percentage of issued class       
      financial instruments relating to       disposed (treasury shares of the 
      shares disposed                         class should not be taken into   
                                              account when calculating         
      100,000                                 percentage)                      
                                                                               
                                              0.0617%                          
                                                                               
13.   Price per share or value of       14.   Date and place of transaction    
      transaction                                                              
                                              13 August 2012 - London, England 
      Transferred for nil consideration                                        
                                                                               
15.   Total holding following           16.   Date issuer informed of          
      notification and total percentage       transaction                      
      holding following notification                                           
      (any treasury shares should not         2 November 2012                  
      be taken into account when                                               
      calculating percentage)                                                  
                                                                               
      Alex Maloney (Executive Director)                                        
      - 91,415 (0.0564%)                                                       
                                                                               
      Amanda Maloney (connected person)                                        
      - 100,000 (0.0617%)                                                      

If a person discharging managerial responsibilities has been granted options by
the issuer complete the following boxes                                        
                                                                               
17.   Date of grant                     18.   Period during which or date on   
                                              which exercisable                
                                                                               
19.   Total amount paid (if any) for    20.   Description of shares or         
      grant of the option                     debentures involved (class and   
                                              number)                          
                                                                               
21.   Exercise price (if fixed at time  22.   Total number of shares or        
      of grant) or indication that            debentures over which options    
      price is to be fixed at the time        held following notification      
      of exercise                                                              

23.   Any additional information        24.    Name of contact and telephone   
                                               number for queries              
      In addition to the securities                                            
      noted in question 15 above, Alex         Christopher Head + 44 (0) 207   
      Maloney also holds the following         264 4145                        
      interests in the Company:                                                
                                                                               
      Restricted Share Scheme Awards                                           
      Bonus Deferral Plan*- 54,559                                             
                                                                               
      *vesting is subject to time and                                          
      employment                                                               
                                                                               
      conditions only                                                          
                                                                               
      Restricted Share Scheme Awards-                                          
                                                                               
      519,613**                                                                
                                                                               
      **Pursuant to the Rules of the                                           
      Restricted Share Scheme, the                                             
      number of shares that will                                               
      actually vest depends on the                                             
      satisfaction of certain                                                  
      conditions including employment,                                         
      performance and time conditions.                                         
                                                                               
      N.B: The 100,000 shares which are                                        
      the subject of this notification                                         
      have been transferred for nil                                            
      consideration to the connected                                           
      person for tax reasons                                                   

Name of authorised official if issuer for making notification                  
                                                                               
Christopher Head                                                               
                                                                               
Assistant Company Secretary                                                    
                                                                               
02 November 2012