This page includes Regulatory news filings supplied by issuers listed on the BSX. Please note the BSX is not responsible for the content, accuracy or completeness of announcements filed by issuers and disclaims all liability for any loss arising from reliance on information contained within issuer announcements.
FLAGSTONE REITERATES HIGH QUALITY ASSET PORTFOLIO
Hamilton, Bermuda - 16 December, 2008 - Flagstone Reinsurance Holdings Limited (NYSE: FSR) announced that it has no exposure to funds managed by Bernard L. Madoff Investment Securities LLC. Flagstone also reiterated that following the changes to its asset portfolio in October, the current portfolio is extremely low-risk and high quality with 94.5% of assets in fixed maturities and cash and no exposure to equities or hedge funds. Furthermore, the average credit quality of the portfolio is AAA with no exposure to sub-prime assets or CDO's, less than 10% in prime Residential Mortgage Backed Securities and 1.2% in Commercial Mortgage Backed Securities.
About Flagstone Reinsurance Holdings Limited
Flagstone Reinsurance Holdings Limited, through its operating subsidiaries, is a global reinsurance and insurance company that employs a focused, technical approach to the Property, Property Catastrophe, and Specialty reinsurance and insurance businesses. Flagstone Réassurance Suisse SA has an "A-" financial strength rating from both A.M. Best and Fitch Ratings, and an "A3" rating from Moody's Investors Service.
Contact:
Flagstone Reinsurance Holdings Limited, Hamilton
Brenton Slade, +1-441-278-4303