LANCASHIRE HOLDINGS LIMITED : - Director/PDMR Shareholding

                              Lancashire Holdings Limited                          

                                    (the "Company")                                

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

    The Company has been notified by Robert Lusardi, Non-Executive Director, that
    on 30 December 2016 he purchased 3,000 common shares of US$0.50 each in the
    Company at $8.45 per share for 500 shares and $8.63 per share for 2,500 shares.

    Following this transaction, Robert Lusardi has an interest in the Company of
    3,000 common shares, representing 0.0015%.

    The notification, made in accordance with Article 19 of Regulation (EU) No 596/
     2014 of the European Parliament and of the Council of 16 April 2014 on market 
                  abuse (Market Abuse Regulation), is set out below:               

     1     Details of the person discharging managerial responsibilities/person closely                                 
           associated                                                                                                   
                                                                                                                        
    a)     Name                  Robert Lusardi                                                                         
                                                                                                                        
    2      Reason for the notification                                                                                  
                                                                                                                        
    a)     Position/status       Non-Executive Director                                                                 
                                                                                                                        
    b)     Initial notification/ Initial notification                                                                   
           Amendment                                                                                                    
                                                                                                                        
    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    Common Shares of US$0.50 each                                                          
           financial instrument,                                                                                        
           type of instrument    ISIN: BMG5361W1047                                                                     
           Identification code                                                                                          
                                                                                                                        
    b)     Nature of the         Purchase of common shares                                                              
           transaction                                                                                                  
                                                                                                                        
    c)     Price(s) and volume   Price(s)                                 Volume(s)                                     
           (s)                                                                                                          
                                 $8.45                                    500                                           
                                                                                                                        
                                 $8.63                                    2,500                                         
                                                                                                                        
    d)     Aggregated                                                                                                   
           information           3,000                                                                                  
                                 $25,800                                                                                
                                                                                                                        
    e)     Date of the            2016-12-30                                                                            
           transaction                                                                                                  
                                                                                                                        
    f)     Place of the          Outside a trading venue*                                                               
           transaction           *this transaction was executed in New York, USA via an OTC - under ticker              
                                 symbol LCSHF                                                                           

    Name of authorised official of issuer for making notification

    Christopher Head     [phone]                                                  
    Company Secretary    [e-mail]                                    
    3 January 2017