LANCASHIRE HOLDINGS LIMITED                          

    01 September 2015

    London, UK

                                  Total Voting Rights                              

     
    In conformity with DTR 5.6.1R, Lancashire Holdings Limited (the "Company")
    announces that as of 31 August 2015, the Company's issued share capital
    consists of 200,341,918 Common Shares of $0.50 each ("Common Shares") of which
    2,126,144 Common Shares are held in Treasury.  Therefore, the total number of
    Common Shares in issue with voting rights (excluding shares held in Treasury)
    is 198,215,774.

    The above figure of 198,215,774 may be used by shareholders as the denominator
    for the calculations by which they will determine if they are required to
    notify their interest in, or a change to their interest in, the Company under
    the Financial Conduct Authority's Disclosure Rules and Transparency Rules.

    For further information, please contact:

    Lancashire Holdings Limited                                            
    Christopher Head                    +44 20 7264 4145                   
                                        chris.head@lancashiregroup.com     
                                                                           
    Jonny Creagh-Coen                   +44 20 7264 4066                   
                                        jcc@lancashiregroup.com            
                                                                           
    Haggie Partners                     +44 20 7562 4444                   
                                                                           
    David Haggie                        (David Haggie mobile +44           
                                        7768332486)                        

    About Lancashire

    Lancashire, through its UK and Bermuda-based operating subsidiaries, is a
    global provider of specialty insurance and reinsurance products. The Group
    companies carry the following ratings:

                              Financial     Financial    Long Term                  
                              Strength      Strength     Issuer                     
                              Rating (1)    Outlook(1)   Rating (2)                 
                                                                                    
    A.M. Best                 A (Excellent) Stable       bbb                        
                                                                                    
    Standard & Poor's         A-            Stable       BBB                        
                                                                                    
    Moody's                   A3            Stable       Baa2                       

    (1)Financial Strength Rating and Financial Strength Outlook apply to Lancashire
    Insurance Company Limited and Lancashire Insurance Company (UK) Limited.

    (2) Long Term Issuer Rating applies to Lancashire Holdings Limited.

    Cathedral benefits from Lloyd's ratings: A.M. Best: A (Excellent); Standard &
    Poor's: A+ (Strong); and Fitch: AA- (Very Strong).

    Lancashire has capital in excess of $1.5 billion and its common shares trade on
    the premium segment of the Main Market of the London Stock Exchange under the
    ticker symbol LRE. Lancashire has its corporate headquarters and mailing
    address at 29th Floor, 20 Fenchurch Street, London EC3M 3BY, United Kingdom and
    its registered office at Power House, 7 Par-la-Ville Road, Hamilton HM 11,
    Bermuda.

    For more information on Lancashire and Lancashire's subsidiary and Lloyd's
    segment, Cathedral Capital Limited ("Cathedral"), visit the Company's website
    at www.lancashiregroup.com

    Lancashire Insurance Company Limited is regulated by the Bermuda Monetary
    Authority in Bermuda.

    Lancashire Insurance Company (UK) Limited is authorised by the Prudential
    Regulation Authority and regulated by the Financial Conduct Authority and the
    Prudential Regulation Authority in the UK.

    Kinesis Capital Management Limited is regulated by the Bermuda Monetary
    Authority in Bermuda.

    Cathedral Underwriting Limited is authorised by the Prudential Regulation
    Authority and regulated by the Financial Conduct Authority and the Prudential
    Regulation Authority in the UK. It is also authorised and regulated by Lloyd's.

    NOTE REGARDING FORWARD-LOOKING STATEMENTS:

    CERTAIN STATEMENTS AND INDICATIVE PROJECTIONS (WHICH MAY INCLUDE MODELED LOSS
    SCENARIOS) MADE IN THIS RELEASE OR OTHERWISE THAT ARE NOT BASED ON CURRENT OR
    HISTORICAL FACTS ARE FORWARD-LOOKING IN NATURE INCLUDING, WITHOUT LIMITATION,
    STATEMENTS CONTAINING THE WORDS "BELIEVES", "ANTICIPATES", "PLANS", "PROJECTS",
    "FORECASTS", "GUIDANCE", "INTENDS", "EXPECTS", "ESTIMATES", "PREDICTS", "MAY",
    "CAN", "LIKELY",  "WILL", "SEEKS", "SHOULD", OR, IN EACH CASE, THEIR NEGATIVE
    OR COMPARABLE TERMINOLOGY. ALL SUCH STATEMENTS OTHER THAN STATEMENTS OF
    HISTORICAL FACTS INCLUDING, WITHOUT LIMITATION, THE GROUP'S FINANCIAL
    POSITION,  LIQUIDITY,  RESULTS OF OPERATIONS,  PROSPECTS,  GROWTH, CAPITAL
    MANAGEMENT PLANS AND EFFICIENCIES, ABILITY TO CREATE VALUE, DIVIDEND POLICY,
    OPERATIONAL FLEXIBILITY, COMPOSITION OF MANAGEMENT, BUSINESS STRATEGY, PLANS
    AND OBJECTIVES OF MANAGEMENT FOR FUTURE OPERATIONS (INCLUDING DEVELOPMENT PLANS
    AND OBJECTIVES RELATING TO THE GROUP'S INSURANCE BUSINESS) ARE FORWARD LOOKING
    STATEMENTS. SUCH FORWARD-LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS,
    UNCERTAINTIES AND OTHER IMPORTANT FACTORS THAT COULD CAUSE THE ACTUAL RESULTS,
    PERFORMANCE OR ACHIEVEMENTS OF THE GROUP TO BE MATERIALLY DIFFERENT FROM FUTURE
    RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH
    FORWARD-LOOKING STATEMENTS.

    THESE FACTORS INCLUDE, BUT ARE NOT LIMITED TO: THE GROUP'S ABILITY TO INTEGRATE
    ITS BUSINESSES AND PERSONNEL; THE SUCCESSFUL RETENTION AND MOTIVATION OF THE
    GROUP'S KEY MANAGEMENT; THE INCREASED REGULATORY BURDEN FACING THE GROUP, THE
    NUMBER AND TYPE OF INSURANCE AND REINSURANCE CONTRACTS THAT THE GROUP WRITES OR
    MAY WRITE; THE GROUP'S ABILITY TO IMPLEMENT SUCCESSFULLY ITS BUSINESS STRATEGY
    DURING 'SOFT' AS WELL AS 'HARD' MARKETS; THE PREMIUM RATES WHICH MAY BE
    AVAILABLE AT THE TIME OF SUCH RENEWALS WITHIN THE GROUP'S TARGETED BUSINESS
    LINES; THE POSSIBLE LOW FREQUENCY OF LARGE EVENTS; POTENTIALLY UNUSUAL LOSS
    FREQUENCY; THE IMPACT THAT THE GROUP'S FUTURE OPERATING RESULTS, CAPITAL
    POSITION AND RATING AGENCY AND OTHER CONSIDERATIONS MAY HAVE ON THE EXECUTION
    OF ANY CAPITAL MANAGEMENT INITIATIVES OR DIVIDENDS; THE POSSIBILITY OF GREATER
    FREQUENCY OR SEVERITY OF CLAIMS AND LOSS ACTIVITY THAN THE GROUP'S
    UNDERWRITING, RESERVING OR INVESTMENT PRACTICES HAVE ANTICIPATED; THE
    RELIABILITY OF, AND CHANGES IN ASSUMPTIONS TO, CATASTROPHE PRICING,
    ACCUMULATION AND ESTIMATED LOSS MODELS; INCREASED COMPETITION FROM EXISTING
    ALTERNATIVE CAPITAL PROVIDERS, INSURANCE LINKED FUNDS AND COLLATERALISED
    SPECIAL PURPOSE INSURERS AND THE RELATED DEMAND AND SUPPLY DYNAMICS AS
    CONTRACTS COME UP FOR RENEWAL; THE EFFECTIVENESS OF THE GROUP'S LOSS LIMITATION
    METHODS; THE POTENTIAL LOSS OF KEY PERSONNEL; A DECLINE IN THE GROUP'S
    OPERATING SUBSIDIARIES' RATING WITH A.M. BEST, STANDARD & POOR'S, MOODY'S OR
    OTHER RATING AGENCIES; INCREASED COMPETITION ON THE BASIS OF PRICING, CAPACITY,
    COVERAGE TERMS OR OTHER FACTORS; A CYCLICAL DOWNTURN OF THE INDUSTRY; THE
    IMPACT OF A DETERIORATING CREDIT ENVIRONMENT FOR ISSUERS OF FIXED INCOME
    INVESTMENTS; THE IMPACT OF SWINGS IN MARKET INTEREST RATES AND SECURITIES
    PRICES; A RATING DOWNGRADE OF, OR A MARKET DECLINE IN, SECURITIES IN ITS
    INVESTMENT PORTFOLIO; CHANGES IN GOVERNMENTAL REGULATIONS OR TAX LAWS IN
    JURISDICTIONS WHERE THE GROUP CONDUCTS BUSINESS; ANY OF THE GROUP'S BERMUDIAN
    SUBSIDIARIES BECOMING SUBJECT TO INCOME TAXES IN THE UNITED STATES OR THE
    UNITED KINGDOM; THE INAPPLICABILITY TO THE GROUP OF SUITABLE EXCLUSIONS FROM
    THE UK CFC REGIME; AND ANY CHANGE IN UK GOVERNMENT POLICY WHICH IMPACTS THE CFC
    REGIME.

    ALL FORWARD-LOOKING STATEMENTS IN THIS RELEASE SPEAK ONLY AS AT THE DATE OF
    PUBLICATION. LANCASHIRE EXPRESSLY DISCLAIMS ANY OBLIGATION OR UNDERTAKING (SAVE
    AS REQUIRED TO COMPLY WITH ANY LEGAL OR REGULATORY OBLIGATIONS INCLUDING THE
    RULES OF THE LONDON STOCK EXCHANGE) TO DISSEMINATE ANY UPDATES OR REVISIONS TO
    ANY FORWARD-LOOKING STATEMENTS TO REFLECT ANY CHANGES IN THE GROUP'S
    EXPECTATIONS OR CIRCUMSTANCES ON WHICH ANY SUCH STATEMENT IS BASED.