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FLAGSTONE CELEBRATES FIFTH ANNIVERSARY
LUXEMBOURG, Luxembourg – 15 December, 2010 - Flagstone Reinsurance Holdings, S.A. (NYSE: FSR) celebrates its fifth anniversary.
Flagstone, set up in the wake of the market dislocation caused by Hurricane’s Katrina, Rita, and Wilma in 2005, began in Bermuda in December 2005 with $550 million in capital and has since grown to over $1.45 billion in underwriting capital and wrote $988.5 million of premiums in 2009.
“We have worked hard since 2005 building a platform to produce quality underwriting opportunities from around the globe,” said David Brown, founder and chief executive officer of Flagstone Re. “We now have offices in 12 countries and more than 450 employees. We have come a long way in five years and are very pleased with the business we have built.
“Our success is based on the talent and hard work of our staff, the service we offer clients, and the underwriting discipline we continue to maintain. Our agility in being able to adapt to changing market conditions and the strong financial performance we have shown in the past five years are testament to the fact that we have established ourselves as a premier global short-tail reinsurer.”
Building on this early success, Flagstone has continued to develop a professional team of experts known for their depth of knowledge and comprehensive risk modeling and analysis, in addition to award-winning client service.
Flagstone has been the recipient of several awards since inception including being voted Reinsurance Company of the Year by the Review’s Worldwide Reinsurance Awards for 2010.
About Flagstone Reinsurance Holdings, S.A.
Flagstone Reinsurance Holdings, S.A., through its operating subsidiaries, is a global reinsurance and insurance company that employs a focused and technical approach to the Property Catastrophe, Property, and Specialty reinsurance and insurance businesses.
The Company is traded on the New York Stock Exchange under the symbol "FSR" and the Bermuda Stock Exchange under the symbol "FSR BH". Additional financial information and other items of interest are available at the Company's website located at http://www.flagstonere.com.
CONTACT:
Flagstone Reinsurance Holdings, S.A.
Brenton Slade: +352 2 735 1515