Lancashire Holdings Limited has bought back and cancelled 6,026,925 of its common shares of US$0.50 par value per share at a price of £3.54 per Common Share in an off-market transaction as part of its $100 million share repurchase programme.

The total purchase price was $45.1 million. Following the repurchase the issued share capital of the company will be 189,897,086 Common Shares.

CEO Richard Brindle, commented: "We are pleased to have completed this transaction with one of our founding shareholders. We have a further $54.9 million remaining under our existing share repurchase authorisation."