Sep. 23, 2009 (Business Wire) -- Flagstone Reinsurance Holdings Limited (NYSE: FSR) announced today that a team lead by Nick Jones has joined its Lloyd’s underwriting operation, Marlborough Underwriting Agency Ltd. to create a worldwide property division. Initially writing on behalf of Marlborough’s existing Syndicate 1861, the division will be supported for the 2010 year by a new mixed-capital Syndicate 1969 which will provide the majority of the capacity and utilize managing agency services and systems provided by Marlborough and Flagstone. The establishment of Syndicate 1969 has been approved in principle by Lloyd’s Franchise Board but is subject to final approval by Lloyd’s.

About Flagstone Reinsurance Holdings Limited

Flagstone, 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. Flagstone Réassurance Suisse has received “A-” financial strength ratings from both A.M. Best and Fitch Ratings, and “A3” ratings from Moody's Investors Service. Island Heritage and Flagstone Reinsurance Africa have received “A-” financial strength ratings from A.M. Best.

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 www.flagstonere.com.