Elaine Whelan, Lancashire’s group chief financial officer and executive director, and CEO of Lancashire’s Bermudian subsidiary, Lancashire Insurance Company Limited, plans to retire from her roles and the group next year.

She will continue in her role as group CFO throughout this year and the 2019 financial year-end process, and plans to step down as group CFO and from her executive directorship of Lancashire at the end of February 2020. She will remain available to assist with transition in the finance department for several months thereafter.

Lancashire Holdings Limited will be conducting a process to identify the successor group CFO, and a further announcement will be issued once that process has concluded.

Peter Clarke, Lancashire’s chairman said: “Elaine joined Lancashire in 2006, became the group CFO at the beginning of 2011 and an executive director on our board in early 2013. Her drive, dedication and insight have helped contribute to the growth and development of our business and she has made an exceptional contribution to Lancashire’s success over many years.

“We look forward to working with Elaine over the coming year and we are pleased that Elaine will be assisting the board in implementing an orderly succession process for the group CFO role. I join my board and senior management colleagues in wishing Elaine well for her life post Lancashire.”

Ms Whelan, said: “I have enjoyed the many challenges and savoured the successes we have achieved at Lancashire in my time with the business. It has been a tremendous experience and I have had the opportunity to work with some amazing people. While I will miss that a great deal, personally the time has come for a change and my retirement from Lancashire gives me that.

“In particular, I would like to thank my fantastic finance team and the Bermuda office for their continuing hard work and contribution to the success of Lancashire, and I wish the group and all our staff well for the future.”