Lancashire Holdings' long-serving CFO to retire in 2020

Lancashire Holdings announced on Friday that its chief financial officer Elaine Whelan, who is also chief executive of the company's Bermudian subsidiary, Lancashire Insurance Company Limited, plans to retire during the course of 2020.

Whelan will continue in her roles throughout 2019 and the 2019 financial year end process, and currently plans to step down at the end of February 2020, though will remain available to assist with transition in the finance department for several months thereafter.

Whelan joined Lancashire in 2006, taking up the chief financial officer role in 2011 and an executive director role in 2013.

Peter Clarke, chairman at Lancashire, said: "Her drive, dedication and insight have helped contribute to the growth and development of our business and she has made an exceptional contribution to Lancashire’s success over many years. We look forward to working with Elaine over the coming year and we are pleased that Elaine will be assisting the board in implementing an orderly succession process for the group CFO role."

Lancashire will be conducting a process to identify Whelan's successor chief finance officer and a further announcement will be issued once that process has concluded.

"I have enjoyed the many challenges and savoured the successes we have achieved at Lancashire in my time with the business. It has been a tremendous experience and I have had the opportunity to work with some amazing people. While I will miss that a great deal, personally the time has come for a change and my retirement from Lancashire gives me that," said Whelan.

Lancashire Holdings' shares were up 1.85% at 689.00p at 1245 BST.