Flagstone Re Announces Appointment of Guy Swayne as CEO of Flagstone Reassurance Suisse SA

    HAMILTON, BERMUDA, September 10 /CNW/ - Flagstone Reinsurance Holdings
Limited (NYSE:  FSR) announced today that Guy Swayne has been appointed CEO of
Flagstone Reassurance Suisse SA. His appointment is subject to approval by the
Federal Office of Private Insurance in Switzerland.

    David Brown, CEO of Flagstone, commented: "I am delighted that Guy Swayne
has accepted our invitation to move to Switzerland in the capacity of CEO of
Flagstone Reassurance Suisse SA. Guy's experience, particularly in specialty
lines, will be a big boost to our development in Switzerland where he will
continue to develop our International business on a global basis."

    About Flagstone Reinsurance Holdings Limited

    Flagstone Reinsurance Holdings Limited, through its operating
subsidiaries, is a global reinsurance company formed and headquartered in
Bermuda. Flagstone Re employs a focused, technical approach to the Property
Catastrophe, Property, and Specialty reinsurance business. Flagstone Re and
Flagstone Reassurance Suisse have received "A-" financial strength ratings
from both A.M. Best and Fitch Ratings, and "A3" ratings from Moody's Investors

For further information:

For further information: Flagstone Reinsurance Holdings Limited,
Hamilton Brenton Slade, 441-278-4303

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