Bermuda-based re/insurer Lancashire Holdings Limited (LHL), has announced the appointment of Philip Broadley as a Non-Executive Director of LHL, effective November 8, 2023.
Broadley has also been appointed as the LHL Chair designate, a position Lancashire expects to take effect immediately following the company’s 2024 AGM – to be held on 1 May 2024 -, subject to shareholder approval.
Peter Clarke, who has served as Chair of Lancashire since 2016, has recently completed nine years’ service as a Director on the Lancashire Board. He will therefore step down from his roles as Chair and Non-Executive Director following the 2024 AGM.
“I am delighted to welcome Philip to the Lancashire Group. Philip will bring a wealth of strategic and leadership skills to our Board. He joins Lancashire at an exciting time, with great opportunities for profitable growth ahead. I look forward to working closely with Philip and Alex in planning the transition in the Chair role over the coming months,” Clarke said.
Broadley is Senior Independent Director and Audit Committee Chair at AstraZeneca PLC and a Non-Executive Director of Legal & General Group Plc and is expected to continue in those roles.
He began his career at Arthur Andersen in 1983, becoming a partner in 1993, where he specialised in auditing banks and insurance companies. From 2000, he was Group Finance Director at both Prudential plc and at Old Mutual plc from 2008 until 2014.
Broadley has also served as Chair of the 100 Group of Finance Directors and as a member of the Code Committee of The Takeover Panel. He chaired the Group Audit Committee of Legal & General for six years.
Additionally, he is Treasurer of the London Library and Chair of the Board of Governors at Eastbourne College.
Commenting on Broadley’s appointment, Alex Maloney, Lancashire Group Chief Executive Officer, said: “We are delighted to announce Philip’s appointment as a Non-Executive Director, and to welcome him to the Lancashire Group.
“Philip’s extensive financial services and insurance experience will add great value to our Board, and I look forward to working with him in his role as Chair in due course.”
“Lancashire is in a period of robust growth in a strong market environment. I join a business which is in very good hands. I am extremely pleased to accept my appointment to the Board. I look forward to working with Alex and all my colleagues at Lancashire and to leading the LHL Board as Chair following the 2024 AGM,” Broadley stated
