BSX Approves Secondary Listing of Common Shares of Lancashire Holdings Limited

Hamilton, Bermuda: 23 May 2007 - The Listing Committee of the Bermuda Stock Exchange (BSX) today announced the approval of the listing of up to 195,775,986 Common Shares of Lancashire Holdings Limited.

Lancashire, through its UK and Bermuda-based insurance subsidiaries, is a global provider of specialty insurance products.  Its insurance subsidiaries carry the Lancashire group rating of A minus (Excellent) from A.M. Best with a stable outlook.  Lancashire has capital in excess of US$1 billion and its common shares trade on AIM under the ticker symbol LRE. Lancashire is headquartered at Mintflower Place, 8 Par La Ville Road, Hamilton, HM 08, Bermuda. The mailing address is Lancashire Holdings Limited, P.O. Box 2358,Hamilton HM HX, Bermuda.

First Bermuda Group Limited sponsored the listing of the Common Shares of Lancashire Holdings Limited.  Michael Schroter, EVP of First Bermuda Group Limited, commented, "First Bermuda Group is very pleased to have been chosen as sponsors to Lancashire Holdings Limited".

Greg Wojciechowski, President & CEO of the BSX stated, "We are delighted to welcome Lancashire Holdings Limited to the Official List of the BSX.  Lancashire Holdings Limited joins a prestigious group of domestic companies and Bermuda based international insurance and reinsurance entities that have listed on the BSX."

He went on to note, "Over the years many to most of these Bermuda based international insurance and reinsurance companies have sought secondary listings on the BSX creating critical mass.  We look forward to continuing this momentum and developing additional services that will support the insurance industry sector in Bermuda."

For further information on Lancashire Holdings Limited, please visit the Company's website at: www.lancashiregroup.com or contact Investor Relations at (441) 278-8950.