<?xml version="1.0" encoding="UTF-8"?>

<!--XBRL Document Created with the Workiva Platform-->
<!--Copyright 2025 Workiva-->
<!--r:227ed7fe-3676-4d0f-a0c9-05d40f2879a8,g:ba123e69-00d0-4b86-a589-1156ba372c66-->
<link:linkbase xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/netLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedNetLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedNetLabel"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel"/>
  <link:labelLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
    <link:label id="lab_lancashire_DisclosureOfStrategicRiskTextBlock_label_en" xlink:label="lab_lancashire_DisclosureOfStrategicRiskTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Disclosure of strategic risk [Text Block]</link:label>
    <link:label id="lab_lancashire_DisclosureOfStrategicRiskTextBlock_documentation_en" xlink:label="lab_lancashire_DisclosureOfStrategicRiskTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en">Disclosure of strategic risk</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_lancashire_DisclosureOfStrategicRiskTextBlock" xlink:href="5493002UNUYXLHOWF752-2024-12-31.xsd#lancashire_DisclosureOfStrategicRiskTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lancashire_DisclosureOfStrategicRiskTextBlock" xlink:to="lab_lancashire_DisclosureOfStrategicRiskTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_lancashire_AdjustmentsForInterestExpenseOnLeaseLiabilities_label_en" xlink:label="lab_lancashire_AdjustmentsForInterestExpenseOnLeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Adjustments for interest expense on lease liabilities</link:label>
    <link:label id="lab_lancashire_AdjustmentsForInterestExpenseOnLeaseLiabilities_documentation_en" xlink:label="lab_lancashire_AdjustmentsForInterestExpenseOnLeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en">Adjustments for interest expense on lease liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_lancashire_AdjustmentsForInterestExpenseOnLeaseLiabilities" xlink:href="5493002UNUYXLHOWF752-2024-12-31.xsd#lancashire_AdjustmentsForInterestExpenseOnLeaseLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lancashire_AdjustmentsForInterestExpenseOnLeaseLiabilities" xlink:to="lab_lancashire_AdjustmentsForInterestExpenseOnLeaseLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_lancashire_PurchaseOfInvestmentsClassifiedAsInvestingActivities_label_en" xlink:label="lab_lancashire_PurchaseOfInvestmentsClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Purchase of investments classified as investing activities</link:label>
    <link:label id="lab_lancashire_PurchaseOfInvestmentsClassifiedAsInvestingActivities_documentation_en" xlink:label="lab_lancashire_PurchaseOfInvestmentsClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en">Purchase of investments classified as investing activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_lancashire_PurchaseOfInvestmentsClassifiedAsInvestingActivities" xlink:href="5493002UNUYXLHOWF752-2024-12-31.xsd#lancashire_PurchaseOfInvestmentsClassifiedAsInvestingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lancashire_PurchaseOfInvestmentsClassifiedAsInvestingActivities" xlink:to="lab_lancashire_PurchaseOfInvestmentsClassifiedAsInvestingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_lancashire_DisclosureOfFinanceIncomeExpenseFromInsuranceContractsIssuedRecognisedInProfitOrLossTextBlock_label_en" xlink:label="lab_lancashire_DisclosureOfFinanceIncomeExpenseFromInsuranceContractsIssuedRecognisedInProfitOrLossTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Disclosure of finance income expense from insurance contracts issued recognised in profit or loss [Text Block]</link:label>
    <link:label id="lab_lancashire_DisclosureOfFinanceIncomeExpenseFromInsuranceContractsIssuedRecognisedInProfitOrLossTextBlock_documentation_en" xlink:label="lab_lancashire_DisclosureOfFinanceIncomeExpenseFromInsuranceContractsIssuedRecognisedInProfitOrLossTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en">Disclosure of finance income expense from insurance contracts issued recognised in profit or loss</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_lancashire_DisclosureOfFinanceIncomeExpenseFromInsuranceContractsIssuedRecognisedInProfitOrLossTextBlock" xlink:href="5493002UNUYXLHOWF752-2024-12-31.xsd#lancashire_DisclosureOfFinanceIncomeExpenseFromInsuranceContractsIssuedRecognisedInProfitOrLossTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lancashire_DisclosureOfFinanceIncomeExpenseFromInsuranceContractsIssuedRecognisedInProfitOrLossTextBlock" xlink:to="lab_lancashire_DisclosureOfFinanceIncomeExpenseFromInsuranceContractsIssuedRecognisedInProfitOrLossTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_lancashire_DisclosureOfFinanceIncomeExpenseFromReinsuranceContractsHeldRecognisedInProfitOrLossTextBlock_label_en" xlink:label="lab_lancashire_DisclosureOfFinanceIncomeExpenseFromReinsuranceContractsHeldRecognisedInProfitOrLossTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Disclosure of finance income expense from reinsurance contracts held recognised in profit or loss [Text Block]</link:label>
    <link:label id="lab_lancashire_DisclosureOfFinanceIncomeExpenseFromReinsuranceContractsHeldRecognisedInProfitOrLossTextBlock_documentation_en" xlink:label="lab_lancashire_DisclosureOfFinanceIncomeExpenseFromReinsuranceContractsHeldRecognisedInProfitOrLossTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en">Disclosure of finance income expense from reinsurance contracts held recognised in profit or loss</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_lancashire_DisclosureOfFinanceIncomeExpenseFromReinsuranceContractsHeldRecognisedInProfitOrLossTextBlock" xlink:href="5493002UNUYXLHOWF752-2024-12-31.xsd#lancashire_DisclosureOfFinanceIncomeExpenseFromReinsuranceContractsHeldRecognisedInProfitOrLossTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lancashire_DisclosureOfFinanceIncomeExpenseFromReinsuranceContractsHeldRecognisedInProfitOrLossTextBlock" xlink:to="lab_lancashire_DisclosureOfFinanceIncomeExpenseFromReinsuranceContractsHeldRecognisedInProfitOrLossTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_lancashire_DistributionsByTrustClassifiedAsFinancingActivities_label_en" xlink:label="lab_lancashire_DistributionsByTrustClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Distributions by trust classified as financing activities</link:label>
    <link:label id="lab_lancashire_DistributionsByTrustClassifiedAsFinancingActivities_documentation_en" xlink:label="lab_lancashire_DistributionsByTrustClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en">Distributions by trust classified as financing activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_lancashire_DistributionsByTrustClassifiedAsFinancingActivities" xlink:href="5493002UNUYXLHOWF752-2024-12-31.xsd#lancashire_DistributionsByTrustClassifiedAsFinancingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lancashire_DistributionsByTrustClassifiedAsFinancingActivities" xlink:to="lab_lancashire_DistributionsByTrustClassifiedAsFinancingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_lancashire_ProceedsOnSaleOfInvestmentsClassifiedAsInvestingActivities_label_en" xlink:label="lab_lancashire_ProceedsOnSaleOfInvestmentsClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Proceeds on sale of investments classified as investing activities</link:label>
    <link:label id="lab_lancashire_ProceedsOnSaleOfInvestmentsClassifiedAsInvestingActivities_documentation_en" xlink:label="lab_lancashire_ProceedsOnSaleOfInvestmentsClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en">Proceeds on sale of investments classified as investing activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_lancashire_ProceedsOnSaleOfInvestmentsClassifiedAsInvestingActivities" xlink:href="5493002UNUYXLHOWF752-2024-12-31.xsd#lancashire_ProceedsOnSaleOfInvestmentsClassifiedAsInvestingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lancashire_ProceedsOnSaleOfInvestmentsClassifiedAsInvestingActivities" xlink:to="lab_lancashire_ProceedsOnSaleOfInvestmentsClassifiedAsInvestingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_lancashire_InvestmentsInAssociateClassifiedAsInvestingActivities_label_en" xlink:label="lab_lancashire_InvestmentsInAssociateClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Investments in associate classified as investing activities</link:label>
    <link:label id="lab_lancashire_InvestmentsInAssociateClassifiedAsInvestingActivities_documentation_en" xlink:label="lab_lancashire_InvestmentsInAssociateClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en">Investments in associate classified as investing activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_lancashire_InvestmentsInAssociateClassifiedAsInvestingActivities" xlink:href="5493002UNUYXLHOWF752-2024-12-31.xsd#lancashire_InvestmentsInAssociateClassifiedAsInvestingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lancashire_InvestmentsInAssociateClassifiedAsInvestingActivities" xlink:to="lab_lancashire_InvestmentsInAssociateClassifiedAsInvestingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_lancashire_NetInsuranceAndInvestmentResult_ac066b1b-5691-4549-bf3d-558df361226a_totalLabel_en" xlink:label="lab_lancashire_NetInsuranceAndInvestmentResult" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">(lancashire) Net insurance and investment result</link:label>
    <link:label id="lab_lancashire_NetInsuranceAndInvestmentResult_label_en" xlink:label="lab_lancashire_NetInsuranceAndInvestmentResult" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Net insurance and investment result</link:label>
    <link:label id="lab_lancashire_NetInsuranceAndInvestmentResult_documentation_en" xlink:label="lab_lancashire_NetInsuranceAndInvestmentResult" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en">Net insurance and investment result</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_lancashire_NetInsuranceAndInvestmentResult" xlink:href="5493002UNUYXLHOWF752-2024-12-31.xsd#lancashire_NetInsuranceAndInvestmentResult"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lancashire_NetInsuranceAndInvestmentResult" xlink:to="lab_lancashire_NetInsuranceAndInvestmentResult" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CashFlowsFromUsedInOperatingActivities_8ef30201-3a9d-42f6-be3b-f9cf9d951cc3_totalLabel_en" xlink:label="lab_ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Cash flows from (used in) operating activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="lab_ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_lancashire_AdjustmentsForInterestExpenseOnLongTermDebt_label_en" xlink:label="lab_lancashire_AdjustmentsForInterestExpenseOnLongTermDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Adjustments for interest expense on long-term debt</link:label>
    <link:label id="lab_lancashire_AdjustmentsForInterestExpenseOnLongTermDebt_documentation_en" xlink:label="lab_lancashire_AdjustmentsForInterestExpenseOnLongTermDebt" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en">Adjustments for interest expense on long-term debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_lancashire_AdjustmentsForInterestExpenseOnLongTermDebt" xlink:href="5493002UNUYXLHOWF752-2024-12-31.xsd#lancashire_AdjustmentsForInterestExpenseOnLongTermDebt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lancashire_AdjustmentsForInterestExpenseOnLongTermDebt" xlink:to="lab_lancashire_AdjustmentsForInterestExpenseOnLongTermDebt" xlink:type="arc" order="1"/>
    <link:label id="lab_lancashire_InsuranceServiceResultBeforeReinsuranceContractsHeld_00861ecc-4720-4c92-952c-f2a45da3e636_totalLabel_en" xlink:label="lab_lancashire_InsuranceServiceResultBeforeReinsuranceContractsHeld" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">(lancashire) Insurance service result before reinsurance contracts held</link:label>
    <link:label id="lab_lancashire_InsuranceServiceResultBeforeReinsuranceContractsHeld_label_en" xlink:label="lab_lancashire_InsuranceServiceResultBeforeReinsuranceContractsHeld" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Insurance service result before reinsurance contracts held</link:label>
    <link:label id="lab_lancashire_InsuranceServiceResultBeforeReinsuranceContractsHeld_documentation_en" xlink:label="lab_lancashire_InsuranceServiceResultBeforeReinsuranceContractsHeld" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en">Insurance service result before reinsurance contracts held</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_lancashire_InsuranceServiceResultBeforeReinsuranceContractsHeld" xlink:href="5493002UNUYXLHOWF752-2024-12-31.xsd#lancashire_InsuranceServiceResultBeforeReinsuranceContractsHeld"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lancashire_InsuranceServiceResultBeforeReinsuranceContractsHeld" xlink:to="lab_lancashire_InsuranceServiceResultBeforeReinsuranceContractsHeld" xlink:type="arc" order="1"/>
    <link:label id="lab_lancashire_AdjustmentsForNetUnrealisedGainsLossesOnInvestments_label_en" xlink:label="lab_lancashire_AdjustmentsForNetUnrealisedGainsLossesOnInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Adjustments for net unrealised (gains) losses on investments</link:label>
    <link:label id="lab_lancashire_AdjustmentsForNetUnrealisedGainsLossesOnInvestments_documentation_en" xlink:label="lab_lancashire_AdjustmentsForNetUnrealisedGainsLossesOnInvestments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en">Adjustments for net unrealised (gains) losses on investments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_lancashire_AdjustmentsForNetUnrealisedGainsLossesOnInvestments" xlink:href="5493002UNUYXLHOWF752-2024-12-31.xsd#lancashire_AdjustmentsForNetUnrealisedGainsLossesOnInvestments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lancashire_AdjustmentsForNetUnrealisedGainsLossesOnInvestments" xlink:to="lab_lancashire_AdjustmentsForNetUnrealisedGainsLossesOnInvestments" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CashFlowsFromUsedInFinancingActivities_58fd4508-6915-4114-b541-92a4eabe8ad1_totalLabel_en" xlink:label="lab_ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Cash flows from (used in) financing activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:to="lab_ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_lancashire_InternallyGeneratedIntangibleAssetsClassifiedAsInvestingActivities_label_en" xlink:label="lab_lancashire_InternallyGeneratedIntangibleAssetsClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Internally Generated Intangible Assets Classified As Investing Activities</link:label>
    <link:label id="lab_lancashire_InternallyGeneratedIntangibleAssetsClassifiedAsInvestingActivities_documentation_en" xlink:label="lab_lancashire_InternallyGeneratedIntangibleAssetsClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en">Internally Generated Intangible Assets Classified As Investing Activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_lancashire_InternallyGeneratedIntangibleAssetsClassifiedAsInvestingActivities" xlink:href="5493002UNUYXLHOWF752-2024-12-31.xsd#lancashire_InternallyGeneratedIntangibleAssetsClassifiedAsInvestingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lancashire_InternallyGeneratedIntangibleAssetsClassifiedAsInvestingActivities" xlink:to="lab_lancashire_InternallyGeneratedIntangibleAssetsClassifiedAsInvestingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_lancashire_AdjustmentsForNetRealisedLossesOnInvestments_label_en" xlink:label="lab_lancashire_AdjustmentsForNetRealisedLossesOnInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Adjustments for net realised losses on investments</link:label>
    <link:label id="lab_lancashire_AdjustmentsForNetRealisedLossesOnInvestments_documentation_en" xlink:label="lab_lancashire_AdjustmentsForNetRealisedLossesOnInvestments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en">Adjustments for net realised losses on investments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_lancashire_AdjustmentsForNetRealisedLossesOnInvestments" xlink:href="5493002UNUYXLHOWF752-2024-12-31.xsd#lancashire_AdjustmentsForNetRealisedLossesOnInvestments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lancashire_AdjustmentsForNetRealisedLossesOnInvestments" xlink:to="lab_lancashire_AdjustmentsForNetRealisedLossesOnInvestments" xlink:type="arc" order="1"/>
    <link:label id="lab_lancashire_DistributedByTheTrust_label_en" xlink:label="lab_lancashire_DistributedByTheTrust" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Distributed By The Trust</link:label>
    <link:label id="lab_lancashire_DistributedByTheTrust_documentation_en" xlink:label="lab_lancashire_DistributedByTheTrust" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en">Distributed By The Trust</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_lancashire_DistributedByTheTrust" xlink:href="5493002UNUYXLHOWF752-2024-12-31.xsd#lancashire_DistributedByTheTrust"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lancashire_DistributedByTheTrust" xlink:to="lab_lancashire_DistributedByTheTrust" xlink:type="arc" order="1"/>
    <link:label id="lab_lancashire_DescriptionOfAccountingPolicyForOwnSharesTextBlock_label_en" xlink:label="lab_lancashire_DescriptionOfAccountingPolicyForOwnSharesTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Description of accounting policy for own shares [Text Block]</link:label>
    <link:label id="lab_lancashire_DescriptionOfAccountingPolicyForOwnSharesTextBlock_documentation_en" xlink:label="lab_lancashire_DescriptionOfAccountingPolicyForOwnSharesTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en">Description of accounting policy for own shares</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_lancashire_DescriptionOfAccountingPolicyForOwnSharesTextBlock" xlink:href="5493002UNUYXLHOWF752-2024-12-31.xsd#lancashire_DescriptionOfAccountingPolicyForOwnSharesTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lancashire_DescriptionOfAccountingPolicyForOwnSharesTextBlock" xlink:to="lab_lancashire_DescriptionOfAccountingPolicyForOwnSharesTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_lancashire_PurchaseOfSyndicateParticipationRightsClassifiedAsInvestingActivities_label_en" xlink:label="lab_lancashire_PurchaseOfSyndicateParticipationRightsClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Purchase Of Syndicate Participation Rights Classified As Investing Activities</link:label>
    <link:label id="lab_lancashire_PurchaseOfSyndicateParticipationRightsClassifiedAsInvestingActivities_documentation_en" xlink:label="lab_lancashire_PurchaseOfSyndicateParticipationRightsClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en">Purchase Of Syndicate Participation Rights Classified As Investing Activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_lancashire_PurchaseOfSyndicateParticipationRightsClassifiedAsInvestingActivities" xlink:href="5493002UNUYXLHOWF752-2024-12-31.xsd#lancashire_PurchaseOfSyndicateParticipationRightsClassifiedAsInvestingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lancashire_PurchaseOfSyndicateParticipationRightsClassifiedAsInvestingActivities" xlink:to="lab_lancashire_PurchaseOfSyndicateParticipationRightsClassifiedAsInvestingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CashFlowsFromUsedInInvestingActivities_96d47e82-954a-4e83-acf7-94f253464270_totalLabel_en" xlink:label="lab_ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Cash flows from (used in) investing activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:to="lab_ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_lancashire_OwnShares_label_en" xlink:label="lab_lancashire_OwnShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Own shares</link:label>
    <link:label id="lab_lancashire_OwnShares_documentation_en" xlink:label="lab_lancashire_OwnShares" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en">Own shares</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_lancashire_OwnShares" xlink:href="5493002UNUYXLHOWF752-2024-12-31.xsd#lancashire_OwnShares"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lancashire_OwnShares" xlink:to="lab_lancashire_OwnShares" xlink:type="arc" order="1"/>
    <link:label id="lab_lancashire_DisclosureOfOperationalRiskTextBlock_label_en" xlink:label="lab_lancashire_DisclosureOfOperationalRiskTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Disclosure of operational risk [Text Block]</link:label>
    <link:label id="lab_lancashire_DisclosureOfOperationalRiskTextBlock_documentation_en" xlink:label="lab_lancashire_DisclosureOfOperationalRiskTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en">Disclosure of operational risk</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_lancashire_DisclosureOfOperationalRiskTextBlock" xlink:href="5493002UNUYXLHOWF752-2024-12-31.xsd#lancashire_DisclosureOfOperationalRiskTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lancashire_DisclosureOfOperationalRiskTextBlock" xlink:to="lab_lancashire_DisclosureOfOperationalRiskTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncomeExpensesFromReinsuranceContractsHeldOtherThanFinanceIncomeExpenses_8259d222-019f-4aa8-b9c9-d6c76d971577_totalLabel_en" xlink:label="lab_ifrs-full_IncomeExpensesFromReinsuranceContractsHeldOtherThanFinanceIncomeExpenses" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Income (expenses) from reinsurance contracts held, other than finance income (expenses)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncomeExpensesFromReinsuranceContractsHeldOtherThanFinanceIncomeExpenses" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_IncomeExpensesFromReinsuranceContractsHeldOtherThanFinanceIncomeExpenses"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncomeExpensesFromReinsuranceContractsHeldOtherThanFinanceIncomeExpenses" xlink:to="lab_ifrs-full_IncomeExpensesFromReinsuranceContractsHeldOtherThanFinanceIncomeExpenses" xlink:type="arc" order="1"/>
    <link:label id="lab_lancashire_AdjustmentsForOtherAssetsAndLiabilities_label_en" xlink:label="lab_lancashire_AdjustmentsForOtherAssetsAndLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Adjustments for other assets and liabilities</link:label>
    <link:label id="lab_lancashire_AdjustmentsForOtherAssetsAndLiabilities_documentation_en" xlink:label="lab_lancashire_AdjustmentsForOtherAssetsAndLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en">Adjustments for other assets and liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_lancashire_AdjustmentsForOtherAssetsAndLiabilities" xlink:href="5493002UNUYXLHOWF752-2024-12-31.xsd#lancashire_AdjustmentsForOtherAssetsAndLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lancashire_AdjustmentsForOtherAssetsAndLiabilities" xlink:to="lab_lancashire_AdjustmentsForOtherAssetsAndLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges_619a406f-3c3f-4afa-b1f3-70cf1ec1e580_totalLabel_en" xlink:label="lab_ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Increase (decrease) in cash and cash equivalents before effect of exchange rate changes</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:to="lab_ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:type="arc" order="1"/>
    <link:label id="lab_lancashire_OwnSharesMember_label_en" xlink:label="lab_lancashire_OwnSharesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Own shares [Member]</link:label>
    <link:label id="lab_lancashire_OwnSharesMember_documentation_en" xlink:label="lab_lancashire_OwnSharesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en">Own shares</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_lancashire_OwnSharesMember" xlink:href="5493002UNUYXLHOWF752-2024-12-31.xsd#lancashire_OwnSharesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lancashire_OwnSharesMember" xlink:to="lab_lancashire_OwnSharesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_lancashire_DisclosureOfNetInvestmentIncomeTextBlock_label_en" xlink:label="lab_lancashire_DisclosureOfNetInvestmentIncomeTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Disclosure of net investment income [Text Block]</link:label>
    <link:label id="lab_lancashire_DisclosureOfNetInvestmentIncomeTextBlock_documentation_en" xlink:label="lab_lancashire_DisclosureOfNetInvestmentIncomeTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en">Disclosure of net investment income</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_lancashire_DisclosureOfNetInvestmentIncomeTextBlock" xlink:href="5493002UNUYXLHOWF752-2024-12-31.xsd#lancashire_DisclosureOfNetInvestmentIncomeTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lancashire_DisclosureOfNetInvestmentIncomeTextBlock" xlink:to="lab_lancashire_DisclosureOfNetInvestmentIncomeTextBlock" xlink:type="arc" order="1"/>
  </link:labelLink>
</link:linkbase>
