Flagstone Re Director Retires from Board

    HAMILTON, BERMUDA, June 18 /CNW/ - Flagstone Reinsurance Holdings Limited
(NYSE:  FSR) today announced that Nicholas Brumm, a Director since the founding
of the company in 2005, will not stand for reelection to the Board at the
company's July Annual General Meeting.

    Chairman Mark Byrne said, "Nick Brumm, a founding Director of Flagstone,
has been an energetic and independent Director. His counsel has been of great
use to our company since our inception, perhaps most importantly around our
recent IPO. We will miss his sound advice. We wish him well."

    "With Nick not standing for reelection, Flagstone will have 11 Directors,
of whom 9 are independent. We are actively recruiting a twelfth independent

    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 has
received "A-" financial strength ratings from both A.M. Best and Fitch
Ratings, and an "A3" rating from Moody's Investors Service.

For further information:

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

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