Notification of Transactions of Directors/Persons Discharging Managerial
Responsibility and Connected Persons



1.  Name of the issuer               2.  State whether the notification related
                                         to (i) a transaction notified in
                                         accordance with DTR 3.1.2 R, (ii) a
                                         disclosure made in accordance with LR
  Lancashire Holdings Limited            9.8.6R(1) or (iii) a disclosure made
                                         in accordance with section 793 of the
                                         Companies Act (2006)



                                         (i) a transaction notified in
                                         accordance with DTR 3.1.2 R


3.  Name of the person discharging   4.  State whether notification relates to
    managerial responsibilities/         a person connected with a person
    director                             discharging managerial
                                         responsibilities/director named in 3
                                         and identify connected person
    Alex Maloney (Executive Director
    and Group CEO)

                                         N/A
     Elaine Whelan (Executive
     Director and Group Chief
     Financial Officer)




5.  Indicate whether the             6.  Description of shares (including
    notification is in respect of a      class), debentures or derivatives or
    holding of the person referred       financial instruments relating to
    to in 3 or 4 above or in respect     shares
    of a non-beneficial interest


    Persons referred to at 3 above.
                                         Lancashire Holdings Limited Restricted
                                         Share Scheme



7.  Name of registered shareholder   8.  State the nature of the transaction
    (s) and, if more than one, the
    number of shares held by each of
    them
                                         Restricted Share Awards granted as
                                         nil-cost options over common shares of
                                         US$0.50 each under the Lancashire
     (1) Alex Maloney                    Holdings Limited Restricted Share
                                         Scheme
     (2) Elaine Whelan



9.  Number of shares, debentures or  10. Percentage of issued class acquired
    financial instruments relating       (treasury shares of the class should
    to shares acquired                   not be taken into account when
                                         calculating percentage)


    Alex Maloney - 244,208 RSS
    Awards                                (1) Alex Maloney - 0.1288%

    Elaine Whelan  - 168,149 RSS          (2) Elaine Whelan  - 0.0887%
    Awards



11. Number of shares, debentures or  12. Percentage of issued class disposed
    financial instruments relating       (treasury shares of the class should
    to shares disposed                   not be taken into account when
                                         calculating percentage)


     N/A
                                         N/A



13. Price per share or value of      14. Date and place of transaction
    transaction


                                         12 February 2015
    £NIL


15. Total holding following          16. Date issuer informed of transaction
    notification and total
    percentage holding following
    notification (any treasury
    shares should not be taken into
    account when calculating
    percentage)                          20 February 2015


    (1) Alex Maloney (Executive
        Director) - 321,841 (includes
        100,000 via connected person)
        (0.1698%)

    (2) Elaine Whelan (Executive
        Director) - 233,820 (includes
        2,600 via connected person)
        (0.1234%)



If a person discharging managerial responsibilities has been granted options by
the issuer complete the following boxes



17. Date of grant           18. Period during which or date on which
                                exercisable



                                In accordance with the amended Restricted Share
    12 February 2015            Scheme adopted by the Board on 12 February
                                2014, in the normal course of events these
                                awards will vest in 2018 to the extent that the
                                Performance Conditions (measured over a three
                                year performance period ending 31 December
                                2017) have been satisfied and provided the
                                Award holder remains employed by a Group Member
                                on the date of vesting.



19. Total amount paid (if   20. Description of shares or debentures involved
    any) for grant of the       (class and number)
    option


                                Restricted Share Awards granted over common
    Nil                         shares of US$0.50 each under the Restricted
                                Share Scheme



                                 (1) Alex Maloney - 244,208

                                 (2) Elaine Whelan  - 168,149



21. Exercise price (if      22. Total number of  shares or debentures over
    fixed at time of grant)     which options held following notification
    or indication that
    price is to be fixed at
    the time of exercise
                                Total number of Restricted Share Awards granted
                                under the Restricted Share Scheme* and held
                                following notification:


    Nil
                                 (1) Alex Maloney  - 594,093

                                 (2) Elaine Whelan  - 424,018



                                *Pursuant to the Rules of the Restricted Share
                                Scheme, the number of shares that will actually
                                vest depends on the satisfaction of certain
                                conditions including employment, performance
                                and time conditions.


                                Total number of Restricted Share Awards
                                granted under the Restricted Share Scheme
                                Awards Bonus Deferral Plan** and held following
                                the notification:



                                 (1) Alex Maloney -  45,610

                                 (2) Elaine Whelan - 39,195

                                ** (subject to time and employment conditions

                                    only)


23. Any additional            24. Name of contact and telephone number for
    information                   queries



                                  Christopher Head  +44 (0)20 7264 4145



Name of authorised official if issuer for making notification



Christopher Head
Company Secretary

20 February 2015