Lancashire Holdings has confirmed the sudden departure of their Bermuda-based chief underwriting officer, Simon Fascione, after six years with the company.The news comes on the heels of Lancashire’s announcement last week that Mr Fascione was to head up their new capital management brand, Lancashire Capital Management (LCM).Confirming the firm’s commitment to LCM initiative that was announced with the 2012 results, Richard Brindle, Lancashire CEO, affirmed his own and management’s continuing involvement in the project:“Of course I’m sorry to see one of the team leave and I wish him all the best. As with all we do at Lancashire, the LCM project is a group effort which has contributions from our underwriting, actuarial, finance and operational teams. As I have said, we are convinced of the excellent fit of Lancashire’s unique underwriting and analytical skills and excellent distribution with the emerging interest in the insurance space from capital markets. We have been engaged in this arena since 2006, and look forward to building out our capabilities with our partners”.Alex Maloney, group chief underwriting officer, added: “We’d like to thank Simon for his contributions. As Richard says, Lancashire has always built its success on a team approach by bringing a variety of different disciplines to every new opportunity.“We’re excited by the new developments in capital markets as well as the strong opportunities in our specialty and reinsurance lines. We’re actively engaged in LCM discussions with partners, some of whom we’ve known for a while and some of whom we’re getting to know. We will continue with our plans to build out the staffing of LCM and the day to day management will remain under the guidance of Richard Brindle.”