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<description>Flagstone Reinsurance Holdings Limited</description>
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<item><title>Flagstone Reinsurance Holdings intends a stock buyback</title><description>BERMUDA - In September ####, the board of Flagstone Reinsurance Holdings Ltd (FR), a provider of reinsurance services, authorized the repurchase of up to # mil common shares, or about #.##% of the company's common stock outstanding, in open market transactions. Based on FR's closing stock price of ##.## Bermuda dollars ($##.## US) on September ##, the last full trading day prior to the announcement of the board's approval, the buyback had an indicated value of up to B$##.## mil ($##.## mil) in cash.</description><pubDate>9/25/2008 3:22:53 PM</pubDate><sdc:company_cusip xmlns:sdc="http://www.alacra.com/sdc">G3529T</sdc:company_cusip><sdc:target_company_cusip xmlns:sdc="http://www.alacra.com/sdc">G3529T</sdc:target_company_cusip><sdc:company_cusip_up xmlns:sdc="http://www.alacra.com/sdc">G3529T</sdc:company_cusip_up><sdc:target_company_cusip_up xmlns:sdc="http://www.alacra.com/sdc">G3529T</sdc:target_company_cusip_up><sdc:company xmlns:sdc="http://www.alacra.com/sdc">Flagstone Reinsurance Holdings Ltd</sdc:company><sdc:target_company xmlns:sdc="http://www.alacra.com/sdc">Flagstone Reinsurance Holdings Ltd</sdc:target_company><sdc:company_up xmlns:sdc="http://www.alacra.com/sdc">Flagstone Reinsurance Holdings Ltd</sdc:company_up><sdc:target_company_up xmlns:sdc="http://www.alacra.com/sdc">Flagstone Reinsurance Holdings Ltd</sdc:target_company_up><link>http://www.alacrastore.com/storecontent/Thomson_M%26A/Flagstone_Reinsurance_Holdings_intends_a_stock_buyback-2014000040</link><guid isPermaLink="false">sdc/2014000040</guid><sdc:deal xmlns:sdc="http://www.alacra.com/sdc"><sdc:deal_no>2014000040</sdc:deal_no><sdc:_copyright><sdc:value>Copyright Â© 2008, Thomson Financial, All Rights Reserved</sdc:value></sdc:_copyright><sdc:a_EXCHANGE><sdc:value>New York</sdc:value></sdc:a_EXCHANGE><sdc:a_MAINDUSTRY><sdc:value>Insurance</sdc:value></sdc:a_MAINDUSTRY><sdc:a_NATION><sdc:value>Bermuda</sdc:value></sdc:a_NATION><sdc:a_SICDESC><sdc:value>Fire, marine, and casualty insurance</sdc:value></sdc:a_SICDESC><sdc:a_SICPI><sdc:value>6331</sdc:value></sdc:a_SICPI><sdc:a_STATE><sdc:value>FF</sdc:value></sdc:a_STATE><sdc:a_STATELONG><sdc:value>Foreign</sdc:value></sdc:a_STATELONG><sdc:a_STATUS><sdc:value>Public</sdc:value></sdc:a_STATUS><sdc:a_TICKER><sdc:value>FSR</sdc:value></sdc:a_TICKER><sdc:asic_SIC><sdc:value sdc:p="0">6311:Life insurance</sdc:value><sdc:value sdc:p="1">6321:Accidental and health insurance</sdc:value><sdc:value sdc:p="2">6331:Fire, marine, and casualty insurance</sdc:value><sdc:value sdc:p="3">6351:Surety insurance</sdc:value></sdc:asic_SIC><sdc:aupsic_SIC><sdc:value sdc:p="0">6311:Life insurance</sdc:value><sdc:value sdc:p="1">6321:Accidental and health insurance</sdc:value><sdc:value sdc:p="2">6331:Fire, marine, and casualty insurance</sdc:value><sdc:value sdc:p="3">6351:Surety insurance</sdc:value></sdc:aupsic_SIC><sdc:b_EXCHANGE><sdc:value>New York</sdc:value></sdc:b_EXCHANGE><sdc:b_MAINDUSTRY><sdc:value>Insurance</sdc:value></sdc:b_MAINDUSTRY><sdc:b_NATION><sdc:value>Bermuda</sdc:value></sdc:b_NATION><sdc:b_SICDESC><sdc:value>Fire, marine, and casualty insurance</sdc:value></sdc:b_SICDESC><sdc:b_SICPI><sdc:value>6331</sdc:value></sdc:b_SICPI><sdc:b_STATE><sdc:value>FF</sdc:value></sdc:b_STATE><sdc:b_STATELONG><sdc:value>Foreign</sdc:value></sdc:b_STATELONG><sdc:b_STATUS><sdc:value>Public</sdc:value></sdc:b_STATUS><sdc:b_TICKER><sdc:value>FSR</sdc:value></sdc:b_TICKER><sdc:c_ACIDGEN><sdc:value>961352002</sdc:value></sdc:c_ACIDGEN><sdc:c2up_BUSS><sdc:value>Pvd reinsurance svcs</sdc:value></sdc:c2up_BUSS><sdc:c3up_BUSS><sdc:value>Pvd reinsurance svcs</sdc:value></sdc:c3up_BUSS><sdc:co_DESCR><sdc:value sdc:p="0">Cash</sdc:value><sdc:value sdc:p="1">Cash Only</sdc:value></sdc:co_DESCR><sdc:cs_DESCR><sdc:value>Common Stock</sdc:value></sdc:cs_DESCR><sdc:d_TCIDGEN><sdc:value>961352002</sdc:value></sdc:d_TCIDGEN><sdc:date_lastupdate><sdc:value>Sep 25 2008</sdc:value></sdc:date_lastupdate><sdc:finbltm_BV><sdc:value>15.00000</sdc:value></sdc:finbltm_BV><sdc:finbltm_CASH><sdc:value>562.81600</sdc:value></sdc:finbltm_CASH><sdc:finbltm_CASHFLOW><sdc:value>0.00000</sdc:value></sdc:finbltm_CASHFLOW><sdc:finbltm_CASHFLOW1><sdc:value>0.00000</sdc:value></sdc:finbltm_CASHFLOW1><sdc:finbltm_CASHFLOW2><sdc:value>0.00000</sdc:value></sdc:finbltm_CASHFLOW2><sdc:finbltm_CASHFLOW3><sdc:value>0.00000</sdc:value></sdc:finbltm_CASHFLOW3><sdc:finbltm_CASHFLOW4><sdc:value>0.00000</sdc:value></sdc:finbltm_CASHFLOW4><sdc:finbltm_CASHFLOW5><sdc:value>0.00000</sdc:value></sdc:finbltm_CASHFLOW5><sdc:finbltm_COMEQ><sdc:value>1280.18400</sdc:value></sdc:finbltm_COMEQ><sdc:finbltm_DEBTRAT><sdc:value>0.40300</sdc:value></sdc:finbltm_DEBTRAT><sdc:finbltm_DSER2><sdc:value>0.19900</sdc:value></sdc:finbltm_DSER2><sdc:finbltm_EBIT><sdc:value>238.11800</sdc:value></sdc:finbltm_EBIT><sdc:finbltm_EPS><sdc:value>2.27700</sdc:value></sdc:finbltm_EPS><sdc:finbltm_NI><sdc:value>192.17600</sdc:value></sdc:finbltm_NI><sdc:finbltm_PTINC><sdc:value>225.31500</sdc:value></sdc:finbltm_PTINC><sdc:finbltm_SALES><sdc:value>602.48400</sdc:value></sdc:finbltm_SALES><sdc:finbltm_STDEBT><sdc:value>0.00000</sdc:value></sdc:finbltm_STDEBT><sdc:finbltm_TASS><sdc:value>2473.17600</sdc:value></sdc:finbltm_TASS><sdc:fiscal_ADCR><sdc:value>0.00000</sdc:value></sdc:fiscal_ADCR><sdc:fiscal_ANI><sdc:value>0.00000</sdc:value></sdc:fiscal_ANI><sdc:fiscal_APFDCR><sdc:value>0.00000</sdc:value></sdc:fiscal_APFDCR><sdc:fiscal_ASALES><sdc:value>0.00000</sdc:value></sdc:fiscal_ASALES><sdc:fiscal_ATASS><sdc:value>0.00000</sdc:value></sdc:fiscal_ATASS><sdc:fiscal_DATEFIN><sdc:value>30 Jun 08</sdc:value></sdc:fiscal_DATEFIN><sdc:fiscal_FISCAL><sdc:value>31 Dec 07</sdc:value></sdc:fiscal_FISCAL><sdc:fiscal_FISCAL1><sdc:value>31 Dec 06</sdc:value></sdc:fiscal_FISCAL1><sdc:fiscal_FISCAL2><sdc:value>31 Dec 05</sdc:value></sdc:fiscal_FISCAL2><sdc:fiscal_FISCAL3><sdc:value>31 Dec 04</sdc:value></sdc:fiscal_FISCAL3><sdc:fiscal_FISCAL4><sdc:value>31 Dec 03</sdc:value></sdc:fiscal_FISCAL4><sdc:fiscal_RATE><sdc:value>1.00000</sdc:value></sdc:fiscal_RATE><sdc:g_SEQ><sdc:value sdc:p="0">1.00000</sdc:value><sdc:value sdc:p="1">2.00000</sdc:value><sdc:value sdc:p="2">3.00000</sdc:value><sdc:value sdc:p="3">4.00000</sdc:value><sdc:value sdc:p="4">5.00000</sdc:value><sdc:value sdc:p="5">6.00000</sdc:value><sdc:value sdc:p="6">7.00000</sdc:value><sdc:value sdc:p="7">8.00000</sdc:value><sdc:value sdc:p="8">9.00000</sdc:value><sdc:value sdc:p="9">10.00000</sdc:value><sdc:value sdc:p="10">11.00000</sdc:value><sdc:value sdc:p="11">12.00000</sdc:value><sdc:value sdc:p="12">13.00000</sdc:value><sdc:value sdc:p="13">14.00000</sdc:value></sdc:g_SEQ><sdc:g_TEST><sdc:value sdc:p="0">Flagstone Reinsurance Holdings</sdc:value><sdc:value sdc:p="1">Ltd, located in Hamilton,</sdc:value><sdc:value sdc:p="2">Bermuda, provides reinsurance</sdc:value><sdc:value sdc:p="3">services including property,</sdc:value><sdc:value sdc:p="4">property catastrophe and</sdc:value><sdc:value sdc:p="5">specialty reinsurance</sdc:value><sdc:value sdc:p="6">services, operating through</sdc:value><sdc:value sdc:p="7">its subsidiaries located in</sdc:value><sdc:value sdc:p="8">Martigny, Switzerland,</sdc:value><sdc:value sdc:p="9">Halifax, Nova Scotia,</sdc:value><sdc:value sdc:p="10">Hyderabad, India, London, UK,</sdc:value><sdc:value sdc:p="11">Dubai, UAE and Puerto Rico.</sdc:value><sdc:value sdc:p="12">The company was founded in</sdc:value><sdc:value sdc:p="13">December 2005.</sdc:value></sdc:g_TEST><sdc:g_business><sdc:value sdc:p="0">Flagstone Reinsurance Holdings Ltd, located in Hamilton,</sdc:value><sdc:value sdc:p="1">Bermuda, provides reinsurance services including property,</sdc:value><sdc:value sdc:p="2">property catastrophe and specialty reinsurance services,</sdc:value><sdc:value sdc:p="3">operating through its subsidiaries located in Martigny,</sdc:value><sdc:value sdc:p="4">Switzerland, Halifax, Nova Scotia, Hyderabad, India, London,</sdc:value><sdc:value sdc:p="5">UK, Dubai, UAE and Puerto Rico. The company was founded in</sdc:value><sdc:value sdc:p="6">December 2005.</sdc:value></sdc:g_business><sdc:g_business1><sdc:value>Flagstone Reinsurance Holdings Ltd, located in Hamilton, Bermuda, provides reinsurance services including property, property catastrophe and specialty reinsurance services, operating through its subsidiaries located in Martigny, Switzerland, Halifax, Nova Scotia, Hyderabad, India, London, UK, Dubai, UAE and Puerto Rico. The company was founded in December 2005.</sdc:value></sdc:g_business1><sdc:h_SEQ><sdc:value sdc:p="0">1.00000</sdc:value><sdc:value sdc:p="1">2.00000</sdc:value><sdc:value sdc:p="2">3.00000</sdc:value><sdc:value sdc:p="3">4.00000</sdc:value><sdc:value sdc:p="4">5.00000</sdc:value><sdc:value sdc:p="5">6.00000</sdc:value><sdc:value sdc:p="6">7.00000</sdc:value><sdc:value sdc:p="7">8.00000</sdc:value><sdc:value sdc:p="8">9.00000</sdc:value><sdc:value sdc:p="9">10.00000</sdc:value><sdc:value sdc:p="10">11.00000</sdc:value><sdc:value sdc:p="11">12.00000</sdc:value><sdc:value sdc:p="12">13.00000</sdc:value><sdc:value sdc:p="13">14.00000</sdc:value></sdc:h_SEQ><sdc:h_TEST><sdc:value sdc:p="0">Flagstone Reinsurance Holdings</sdc:value><sdc:value sdc:p="1">Ltd, located in Hamilton,</sdc:value><sdc:value sdc:p="2">Bermuda, provides reinsurance</sdc:value><sdc:value sdc:p="3">services including property,</sdc:value><sdc:value sdc:p="4">property catastrophe and</sdc:value><sdc:value sdc:p="5">specialty reinsurance</sdc:value><sdc:value sdc:p="6">services, operating through</sdc:value><sdc:value sdc:p="7">its subsidiaries located in</sdc:value><sdc:value sdc:p="8">Martigny, Switzerland,</sdc:value><sdc:value sdc:p="9">Halifax, Nova Scotia,</sdc:value><sdc:value sdc:p="10">Hyderabad, India, London, UK,</sdc:value><sdc:value sdc:p="11">Dubai, UAE and Puerto Rico.</sdc:value><sdc:value sdc:p="12">The company was founded in</sdc:value><sdc:value sdc:p="13">December 2005.</sdc:value></sdc:h_TEST><sdc:h_business><sdc:value sdc:p="0">Flagstone Reinsurance Holdings Ltd, located in Hamilton,</sdc:value><sdc:value sdc:p="1">Bermuda, provides reinsurance services including property,</sdc:value><sdc:value sdc:p="2">property catastrophe and specialty reinsurance services,</sdc:value><sdc:value sdc:p="3">operating through its subsidiaries located in Martigny,</sdc:value><sdc:value sdc:p="4">Switzerland, Halifax, Nova Scotia, Hyderabad, India, London,</sdc:value><sdc:value sdc:p="5">UK, Dubai, UAE and Puerto Rico. The company was founded in</sdc:value><sdc:value sdc:p="6">December 2005.</sdc:value></sdc:h_business><sdc:h_business1><sdc:value>Flagstone Reinsurance Holdings Ltd, located in Hamilton, Bermuda, provides reinsurance services including property, property catastrophe and specialty reinsurance services, operating through its subsidiaries located in Martigny, Switzerland, Halifax, Nova Scotia, Hyderabad, India, London, UK, Dubai, UAE and Puerto Rico. The company was founded in December 2005.</sdc:value></sdc:h_business1><sdc:i_AFEEPCT><sdc:value>0.00000</sdc:value></sdc:i_AFEEPCT><sdc:i_AFEETOT><sdc:value>0.00000</sdc:value></sdc:i_AFEETOT><sdc:i_ATERMFEE><sdc:value>0.00000</sdc:value></sdc:i_ATERMFEE><sdc:i_COMOUT><sdc:value>85.35000</sdc:value></sdc:i_COMOUT><sdc:i_CROSS1><sdc:value>N</sdc:value></sdc:i_CROSS1><sdc:i_CURRENCYLONG><sdc:value>Bermuda Dollar</sdc:value></sdc:i_CURRENCYLONG><sdc:i_DATEANN><sdc:value>22 Sep 08</sdc:value></sdc:i_DATEANN><sdc:i_DATEANN2><sdc:value>Mon, 22 Sep 2008 00:00:00 EST</sdc:value></sdc:i_DATEANN2><sdc:i_DATEANNS><sdc:value>Date Announced: 09/22/2008</sdc:value></sdc:i_DATEANNS><sdc:i_DATEEFFS><sdc:value>Date Effective:</sdc:value></sdc:i_DATEEFFS><sdc:i_DESCR><sdc:value>Buyback</sdc:value></sdc:i_DESCR><sdc:i_DESCR1><sdc:value>Not Appl.</sdc:value></sdc:i_DESCR1><sdc:i_FEEPCT><sdc:value>0.00000</sdc:value></sdc:i_FEEPCT><sdc:i_FEETOT><sdc:value>0.00000</sdc:value></sdc:i_FEETOT><sdc:i_HOSTAFEETOT><sdc:value>0.00000</sdc:value></sdc:i_HOSTAFEETOT><sdc:i_HOSTENTVAL><sdc:value>788.92100</sdc:value></sdc:i_HOSTENTVAL><sdc:i_HOSTFEETOT><sdc:value>0.00000</sdc:value></sdc:i_HOSTFEETOT><sdc:i_HOSTPR><sdc:value>12.85000</sdc:value></sdc:i_HOSTPR><sdc:i_HOSTPRLABEL><sdc:value>Price/Share</sdc:value></sdc:i_HOSTPRLABEL><sdc:i_HOSTTFEETOT><sdc:value>0.00000</sdc:value></sdc:i_HOSTTFEETOT><sdc:i_HOSTVALUE><sdc:value>64.25 Bermuda Dollar</sdc:value></sdc:i_HOSTVALUE><sdc:i_HOSTVALUE1><sdc:value>64.25000</sdc:value></sdc:i_HOSTVALUE1><sdc:i_HOST_EQVAL><sdc:value>1096.70000</sdc:value></sdc:i_HOST_EQVAL><sdc:i_HOST_RANKVAL><sdc:value>64.25 Bermuda Dollar</sdc:value></sdc:i_HOST_RANKVAL><sdc:i_HOST_RANKVAL1><sdc:value>64.25000</sdc:value></sdc:i_HOST_RANKVAL1><sdc:i_PCTACQ><sdc:value>0.00000</sdc:value></sdc:i_PCTACQ><sdc:i_PCTOWN><sdc:value>0.00000</sdc:value></sdc:i_PCTOWN><sdc:i_PR><sdc:value>12.85000</sdc:value></sdc:i_PR><sdc:i_PR_INITIAL><sdc:value>12.85000</sdc:value></sdc:i_PR_INITIAL><sdc:i_RANKVAL><sdc:value>0.00000</sdc:value></sdc:i_RANKVAL><sdc:i_RANK_HOSTRANKVAL><sdc:value>64.25 Bermuda Dollar</sdc:value></sdc:i_RANK_HOSTRANKVAL><sdc:i_RATE><sdc:value>1.00000</sdc:value></sdc:i_RATE><sdc:i_STATUS_MMC><sdc:value>N</sdc:value></sdc:i_STATUS_MMC><sdc:i_STGVAL><sdc:value>34.59900</sdc:value></sdc:i_STGVAL><sdc:i_TERMFEE><sdc:value>0.00000</sdc:value></sdc:i_TERMFEE><sdc:i_TFEEPCT><sdc:value>0.00000</sdc:value></sdc:i_TFEEPCT><sdc:i_TFEETOT><sdc:value>0.00000</sdc:value></sdc:i_TFEETOT><sdc:i_TTERMFEE><sdc:value>0.00000</sdc:value></sdc:i_TTERMFEE><sdc:i_VALLIA><sdc:value>0.00000</sdc:value></sdc:i_VALLIA><sdc:i_VALNOLIA><sdc:value>64.25000</sdc:value></sdc:i_VALNOLIA><sdc:i_VALUE><sdc:value>64.25000</sdc:value></sdc:i_VALUE><sdc:j_EQVALCF><sdc:value>0.00000</sdc:value></sdc:j_EQVALCF><sdc:j_EVCF><sdc:value>0.00000</sdc:value></sdc:j_EVCF><sdc:j_EVEBIT><sdc:value>3.31300</sdc:value></sdc:j_EVEBIT><sdc:j_EVNI><sdc:value>4.10500</sdc:value></sdc:j_EVNI><sdc:j_EVSALES><sdc:value>1.30900</sdc:value></sdc:j_EVSALES><sdc:j_MPRICEBOOK><sdc:value>0.00000</sdc:value></sdc:j_MPRICEBOOK><sdc:j_PHELD><sdc:value>0.00000</sdc:value></sdc:j_PHELD><sdc:j_PSOUGHT><sdc:value>5.85900</sdc:value></sdc:j_PSOUGHT><sdc:j_RANKVALCF><sdc:value>0.00000</sdc:value></sdc:j_RANKVALCF><sdc:j_RANKVALEB><sdc:value>4.60600</sdc:value></sdc:j_RANKVALEB><sdc:j_RANKVALNA><sdc:value>0.74300</sdc:value></sdc:j_RANKVALNA><sdc:j_RANKVALNI><sdc:value>5.70700</sdc:value></sdc:j_RANKVALNI><sdc:j_RANKVALSALES><sdc:value>1.82000</sdc:value></sdc:j_RANKVALSALES><sdc:j_VALEB><sdc:value>1.34100</sdc:value></sdc:j_VALEB><sdc:j_VALNI><sdc:value>5.70700</sdc:value></sdc:j_VALNI><sdc:j_VALSALES><sdc:value>1.82000</sdc:value></sdc:j_VALSALES><sdc:m_AMV><sdc:value>0.00000</sdc:value></sdc:m_AMV><sdc:m_C1DAY><sdc:value>12.85000</sdc:value></sdc:m_C1DAY><sdc:m_C1WK><sdc:value>12.09000</sdc:value></sdc:m_C1WK><sdc:m_C4WK><sdc:value>12.14000</sdc:value></sdc:m_C4WK><sdc:m_CF3YGR><sdc:value>0.00000</sdc:value></sdc:m_CF3YGR><sdc:m_CF5YGR><sdc:value>0.00000</sdc:value></sdc:m_CF5YGR><sdc:m_DCR><sdc:value>0.16600</sdc:value></sdc:m_DCR><sdc:m_ENTVAL><sdc:value>788.92100</sdc:value></sdc:m_ENTVAL><sdc:m_EPS3YGR><sdc:value>0.00000</sdc:value></sdc:m_EPS3YGR><sdc:m_EPS5YGR><sdc:value>0.00000</sdc:value></sdc:m_EPS5YGR><sdc:m_LTD><sdc:value>255.03700</sdc:value></sdc:m_LTD><sdc:m_MV><sdc:value>1036.10000</sdc:value></sdc:m_MV><sdc:m_NETASS><sdc:value>1476.10700</sdc:value></sdc:m_NETASS><sdc:m_NETASS3YGR><sdc:value>60.24400</sdc:value></sdc:m_NETASS3YGR><sdc:m_NETASS5YGR><sdc:value>0.00000</sdc:value></sdc:m_NETASS5YGR><sdc:m_NI3YGR><sdc:value>0.00000</sdc:value></sdc:m_NI3YGR><sdc:m_NI5YGR><sdc:value>0.00000</sdc:value></sdc:m_NI5YGR><sdc:m_PM4WK><sdc:value>5.85000</sdc:value></sdc:m_PM4WK><sdc:m_PMDAY><sdc:value>0.00000</sdc:value></sdc:m_PMDAY><sdc:m_PMWK><sdc:value>6.29000</sdc:value></sdc:m_PMWK><sdc:n_SEQ><sdc:value sdc:p="0">1.00000</sdc:value><sdc:value sdc:p="1">2.00000</sdc:value><sdc:value sdc:p="2">3.00000</sdc:value><sdc:value sdc:p="3">4.00000</sdc:value><sdc:value sdc:p="4">5.00000</sdc:value><sdc:value sdc:p="5">6.00000</sdc:value><sdc:value sdc:p="6">7.00000</sdc:value><sdc:value sdc:p="7">8.00000</sdc:value><sdc:value sdc:p="8">9.00000</sdc:value><sdc:value sdc:p="9">10.00000</sdc:value><sdc:value sdc:p="10">11.00000</sdc:value><sdc:value sdc:p="11">12.00000</sdc:value><sdc:value sdc:p="12">13.00000</sdc:value><sdc:value sdc:p="13">14.00000</sdc:value><sdc:value sdc:p="14">15.00000</sdc:value><sdc:value sdc:p="15">16.00000</sdc:value><sdc:value sdc:p="16">17.00000</sdc:value><sdc:value sdc:p="17">18.00000</sdc:value><sdc:value sdc:p="18">19.00000</sdc:value></sdc:n_SEQ><sdc:n_SYNOPSIS><sdc:value sdc:p="0">BERMUDA - In September 2008,</sdc:value><sdc:value sdc:p="1">the board of Flagstone</sdc:value><sdc:value sdc:p="2">Reinsurance Holdings Ltd (FR),</sdc:value><sdc:value sdc:p="3">a provider of reinsurance</sdc:value><sdc:value sdc:p="4">services, authorized the</sdc:value><sdc:value sdc:p="5">repurchase of up to 5 mil</sdc:value><sdc:value sdc:p="6">common shares, or about 5.86%</sdc:value><sdc:value sdc:p="7">of the company's common stock</sdc:value><sdc:value sdc:p="8">outstanding, in open market</sdc:value><sdc:value sdc:p="9">transactions. Based on FR's</sdc:value><sdc:value sdc:p="10">closing stock price of 12.85</sdc:value><sdc:value sdc:p="11">Bermuda dollars ($12.85 US) on</sdc:value><sdc:value sdc:p="12">September 21, the last full</sdc:value><sdc:value sdc:p="13">trading day prior to the</sdc:value><sdc:value sdc:p="14">announcement of the board's</sdc:value><sdc:value sdc:p="15">approval, the buyback had an</sdc:value><sdc:value sdc:p="16">indicated value of up to</sdc:value><sdc:value sdc:p="17">B$64.25 mil ($64.25 mil) in</sdc:value><sdc:value sdc:p="18">cash.</sdc:value></sdc:n_SYNOPSIS><sdc:n_synopsis2><sdc:value>BERMUDA - In September 2008, the board of Flagstone Reinsurance Holdings Ltd (FR), a provider of reinsurance services, authorized the repurchase of up to 5 mil common shares, or about 5.86% of the company's common stock outstanding, in open market transactions. Based on FR's closing stock price of 12.85 Bermuda dollars ($12.85 US) on September 21, the last full trading day prior to the announcement of the board's approval, the buyback had an indicated value of up to B$64.25 mil ($64.25 mil) in cash.</sdc:value></sdc:n_synopsis2><sdc:n_synopsis3><sdc:value sdc:p="0">BERMUDA - In September 2008, the board of Flagstone Reinsurance Holdings Ltd (FR), a</sdc:value><sdc:value sdc:p="1">provider of reinsurance services, authorized the repurchase of up to 5 mil common shares,</sdc:value><sdc:value sdc:p="2">or about 5.86% of the company's common stock outstanding, in open market transactions.</sdc:value><sdc:value sdc:p="3">Based on FR's closing stock price of 12.85 Bermuda dollars ($12.85 US) on September 21,</sdc:value><sdc:value sdc:p="4">the last full trading day prior to the announcement of the board's approval, the buyback</sdc:value><sdc:value sdc:p="5">had an indicated value of up to B$64.25 mil ($64.25 mil) in cash.</sdc:value></sdc:n_synopsis3><sdc:n_synopsis4><sdc:value sdc:p="0">BERMUDA - In September 2008, the board of Flagstone Reinsurance Holdings Ltd (FR), a provider of reinsurance services, authorized the repurchase of up to 5 mil common shares, or about 5.86% of the</sdc:value><sdc:value sdc:p="1">company's common stock outstanding, in open market transactions. Based on FR's closing stock price of 12.85 Bermuda dollars ($12.85 US) on September 21, the last full trading day prior to the</sdc:value><sdc:value sdc:p="2">announcement of the board's approval, the buyback had an indicated value of up to B$64.25 mil ($64.25 mil) in cash.</sdc:value></sdc:n_synopsis4><sdc:n_synopsis5><sdc:value sdc:p="0">BERMUDA - In September 2008, the board of Flagstone Reinsurance Holdings Ltd (FR), a provider of reinsurance services, authorized the</sdc:value><sdc:value sdc:p="1">repurchase of up to 5 mil common shares, or about 5.86% of the company's common stock outstanding, in open market transactions. Based on</sdc:value><sdc:value sdc:p="2">FR's closing stock price of 12.85 Bermuda dollars ($12.85 US) on September 21, the last full trading day prior to the announcement of the</sdc:value><sdc:value sdc:p="3">board's approval, the buyback had an indicated value of up to B$64.25 mil ($64.25 mil) in cash.</sdc:value></sdc:n_synopsis5><sdc:q_DESCR><sdc:value>Intended</sdc:value></sdc:q_DESCR><sdc:q_HOSTANETASS><sdc:value>0.00000</sdc:value></sdc:q_HOSTANETASS><sdc:q_HOSTANILTM><sdc:value>0.00000</sdc:value></sdc:q_HOSTANILTM><sdc:q_HOSTASALESLTM><sdc:value>0.00000</sdc:value></sdc:q_HOSTASALESLTM><sdc:q_HOSTATASS><sdc:value>0.00000</sdc:value></sdc:q_HOSTATASS><sdc:q_HOSTBOOKVALUE><sdc:value>15.00000</sdc:value></sdc:q_HOSTBOOKVALUE><sdc:q_HOSTCASHFLOW><sdc:value>0.00000</sdc:value></sdc:q_HOSTCASHFLOW><sdc:q_HOSTCASHFLOW1><sdc:value>0.00000</sdc:value></sdc:q_HOSTCASHFLOW1><sdc:q_HOSTCASHFLOW2><sdc:value>0.00000</sdc:value></sdc:q_HOSTCASHFLOW2><sdc:q_HOSTCASHFLOW3><sdc:value>0.00000</sdc:value></sdc:q_HOSTCASHFLOW3><sdc:q_HOSTCASHFLOW4><sdc:value>0.00000</sdc:value></sdc:q_HOSTCASHFLOW4><sdc:q_HOSTCASHFLOW5><sdc:value>0.00000</sdc:value></sdc:q_HOSTCASHFLOW5><sdc:q_HOSTCOMMONEQUITY><sdc:value>1280.18400</sdc:value></sdc:q_HOSTCOMMONEQUITY><sdc:q_HOSTEBITLTM><sdc:value>238.11800</sdc:value></sdc:q_HOSTEBITLTM><sdc:q_HOSTEPS1><sdc:value>2.04700</sdc:value></sdc:q_HOSTEPS1><sdc:q_HOSTEPS2><sdc:value>1.79600</sdc:value></sdc:q_HOSTEPS2><sdc:q_HOSTEPS3><sdc:value>-0.21900</sdc:value></sdc:q_HOSTEPS3><sdc:q_HOSTEPS4><sdc:value>0.00000</sdc:value></sdc:q_HOSTEPS4><sdc:q_HOSTEPS5><sdc:value>0.00000</sdc:value></sdc:q_HOSTEPS5><sdc:q_HOSTEPSLTM><sdc:value>2.27700</sdc:value></sdc:q_HOSTEPSLTM><sdc:q_HOSTNETASS><sdc:value>1476.10700</sdc:value></sdc:q_HOSTNETASS><sdc:q_HOSTNETASS1><sdc:value>1399.27100</sdc:value></sdc:q_HOSTNETASS1><sdc:q_HOSTNETASS2><sdc:value>1025.32600</sdc:value></sdc:q_HOSTNETASS2><sdc:q_HOSTNETASS3><sdc:value>544.92900</sdc:value></sdc:q_HOSTNETASS3><sdc:q_HOSTNETASS4><sdc:value>0.00000</sdc:value></sdc:q_HOSTNETASS4><sdc:q_HOSTNETASS5><sdc:value>0.00000</sdc:value></sdc:q_HOSTNETASS5><sdc:q_HOSTNI1><sdc:value>167.69700</sdc:value></sdc:q_HOSTNI1><sdc:q_HOSTNI2><sdc:value>151.99500</sdc:value></sdc:q_HOSTNI2><sdc:q_HOSTNI3><sdc:value>-12.33100</sdc:value></sdc:q_HOSTNI3><sdc:q_HOSTNI4><sdc:value>0.00000</sdc:value></sdc:q_HOSTNI4><sdc:q_HOSTNI5><sdc:value>0.00000</sdc:value></sdc:q_HOSTNI5><sdc:q_HOSTNILTM><sdc:value>192.17600</sdc:value></sdc:q_HOSTNILTM><sdc:q_HOSTPTINC1><sdc:value>202.83700</sdc:value></sdc:q_HOSTPTINC1><sdc:q_HOSTPTINC2><sdc:value>150.37300</sdc:value></sdc:q_HOSTPTINC2><sdc:q_HOSTPTINC3><sdc:value>-12.33100</sdc:value></sdc:q_HOSTPTINC3><sdc:q_HOSTPTINC4><sdc:value>0.00000</sdc:value></sdc:q_HOSTPTINC4><sdc:q_HOSTPTINC5><sdc:value>0.00000</sdc:value></sdc:q_HOSTPTINC5><sdc:q_HOSTPTINCLTM><sdc:value>225.31500</sdc:value></sdc:q_HOSTPTINCLTM><sdc:q_HOSTSALES1><sdc:value>563.35300</sdc:value></sdc:q_HOSTSALES1><sdc:q_HOSTSALES2><sdc:value>246.66500</sdc:value></sdc:q_HOSTSALES2><sdc:q_HOSTSALES3><sdc:value>0.62600</sdc:value></sdc:q_HOSTSALES3><sdc:q_HOSTSALES4><sdc:value>0.00000</sdc:value></sdc:q_HOSTSALES4><sdc:q_HOSTSALES5><sdc:value>0.00000</sdc:value></sdc:q_HOSTSALES5><sdc:q_HOSTSALESLTM><sdc:value>602.48400</sdc:value></sdc:q_HOSTSALESLTM><sdc:q_HOSTTASS><sdc:value>2473.17600</sdc:value></sdc:q_HOSTTASS><sdc:q_HOSTTASS1><sdc:value>2103.77300</sdc:value></sdc:q_HOSTTASS1><sdc:q_HOSTTASS2><sdc:value>1300.74900</sdc:value></sdc:q_HOSTTASS2><sdc:q_HOSTTASS3><sdc:value>545.61400</sdc:value></sdc:q_HOSTTASS3><sdc:q_HOSTTASS4><sdc:value>0.00000</sdc:value></sdc:q_HOSTTASS4><sdc:q_HOSTTASS5><sdc:value>0.00000</sdc:value></sdc:q_HOSTTASS5><sdc:q_STATUS><sdc:value>Status:Intended</sdc:value></sdc:q_STATUS><sdc:r_CURR_CODE><sdc:value>BER</sdc:value></sdc:r_CURR_CODE><sdc:r_PE><sdc:value>5.64300</sdc:value></sdc:r_PE><sdc:r_PE_PRINT><sdc:value>5.643</sdc:value></sdc:r_PE_PRINT><sdc:r_PFTMARG><sdc:value>0.37400</sdc:value></sdc:r_PFTMARG><sdc:r_PRICEBOOK><sdc:value>0.85700</sdc:value></sdc:r_PRICEBOOK><sdc:r_PRICEBOOK_PRINT><sdc:value>0.857</sdc:value></sdc:r_PRICEBOOK_PRINT><sdc:r_PTINC3YGR><sdc:value>0.00000</sdc:value></sdc:r_PTINC3YGR><sdc:r_PTINC5YGR><sdc:value>0.00000</sdc:value></sdc:r_PTINC5YGR><sdc:r_ROE><sdc:value>15.01200</sdc:value></sdc:r_ROE><sdc:r_SALES3YGR><sdc:value>2899.87500</sdc:value></sdc:r_SALES3YGR><sdc:r_SALES5YGR><sdc:value>0.00000</sdc:value></sdc:r_SALES5YGR><sdc:r_SE><sdc:value>1280.18400</sdc:value></sdc:r_SE><sdc:r_TASS3YGR><sdc:value>96.36200</sdc:value></sdc:r_TASS3YGR><sdc:r_TASS5YGR><sdc:value>0.00000</sdc:value></sdc:r_TASS5YGR><sdc:r_TTCFMULT><sdc:value>0.00000</sdc:value></sdc:r_TTCFMULT><sdc:r_TTEBITMULT><sdc:value>4.60600</sdc:value></sdc:r_TTEBITMULT><sdc:r_VALNA><sdc:value>0.74300</sdc:value></sdc:r_VALNA><sdc:sic_SIC><sdc:value sdc:p="0">6311:Life insurance</sdc:value><sdc:value sdc:p="1">6321:Accidental and health insurance</sdc:value><sdc:value sdc:p="2">6331:Fire, marine, and casualty insurance</sdc:value><sdc:value sdc:p="3">6351:Surety insurance</sdc:value></sdc:sic_SIC><sdc:upa_UPACIDGEN><sdc:value>961352002</sdc:value></sdc:upa_UPACIDGEN><sdc:upa1_EXCHANGE><sdc:value>New York</sdc:value></sdc:upa1_EXCHANGE><sdc:upa1_NATION><sdc:value>Bermuda</sdc:value></sdc:upa1_NATION><sdc:upa1_SICP><sdc:value>6331</sdc:value></sdc:upa1_SICP><sdc:upa1_STATE><sdc:value>Foreign</sdc:value></sdc:upa1_STATE><sdc:upa1_STATUS><sdc:value>Public</sdc:value></sdc:upa1_STATUS><sdc:upa1_TICKER><sdc:value>FSR</sdc:value></sdc:upa1_TICKER><sdc:upsic_SIC><sdc:value sdc:p="0">6311:Life insurance</sdc:value><sdc:value sdc:p="1">6321:Accidental and health insurance</sdc:value><sdc:value sdc:p="2">6331:Fire, marine, and casualty insurance</sdc:value><sdc:value sdc:p="3">6351:Surety insurance</sdc:value></sdc:upsic_SIC><sdc:upt_UPTCIDGEN><sdc:value>961352002</sdc:value></sdc:upt_UPTCIDGEN><sdc:upt1_EXCHANGE><sdc:value>New York</sdc:value></sdc:upt1_EXCHANGE><sdc:upt1_NATION><sdc:value>Bermuda</sdc:value></sdc:upt1_NATION><sdc:upt1_SICP><sdc:value>6331</sdc:value></sdc:upt1_SICP><sdc:upt1_STATE><sdc:value>Foreign</sdc:value></sdc:upt1_STATE><sdc:upt1_STATUS><sdc:value>Public</sdc:value></sdc:upt1_STATUS><sdc:upt1_TICKER><sdc:value>FSR</sdc:value></sdc:upt1_TICKER><sdc:x_RANK1_VALUE><sdc:value>64.25000</sdc:value></sdc:x_RANK1_VALUE><sdc:x_RANK_HOSTRANKVAL><sdc:value>64.25000</sdc:value></sdc:x_RANK_HOSTRANKVAL><sdc:x_RANK_RANKVAL><sdc:value>64.25000</sdc:value></sdc:x_RANK_RANKVAL><sdc:x_rank_rankstgval><sdc:value>34.59900</sdc:value></sdc:x_rank_rankstgval></sdc:deal><category>Deal Information</category><alacra:ip>TF Mergers &amp; Acquisitions</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/fitch/432223_pr_frame</link><guid isPermaLink="false">fitch/432223_pr_frame</guid><fitch:index_mode xmlns:fitch="http://www.alacra.com/fitch">html</fitch:index_mode><description>Fitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.</description><fitch:company xmlns:fitch="http://www.alacra.com/fitch">Flagstone Finance S.A.</fitch:company><fitch:company xmlns:fitch="http://www.alacra.com/fitch">Flagstone Reassurance Suisse S.A.</fitch:company><fitch:company xmlns:fitch="http://www.alacra.com/fitch">Flagstone Reinsurance Holdings Limited</fitch:company><fitch:company xmlns:fitch="http://www.alacra.com/fitch">Flagstone Reinsurance Limited</fitch:company><fitch:companyid xmlns:fitch="http://www.alacra.com/fitch">85447280</fitch:companyid><fitch:companyid xmlns:fitch="http://www.alacra.com/fitch">85447285</fitch:companyid><fitch:companyid xmlns:fitch="http://www.alacra.com/fitch">85447290</fitch:companyid><fitch:companyid xmlns:fitch="http://www.alacra.com/fitch">86961767</fitch:companyid><pubDate>9/3/2008 6:33:28 PM</pubDate><fitch:industry xmlns:fitch="http://www.alacra.com/fitch">01010300</fitch:industry><fitch:industry xmlns:fitch="http://www.alacra.com/fitch">01010309</fitch:industry><fitch:price xmlns:fitch="http://www.alacra.com/fitch">85</fitch:price><fitch:report xmlns:fitch="http://www.alacra.com/fitch">Press Release</fitch:report><fitch:ticker xmlns:fitch="http://www.alacra.com/fitch">FSR</fitch:ticker><title>Fitch Affirms Flagstone Re's IFS at 'A-'; Outlook Stable</title><fitch:docid xmlns:fitch="http://www.alacra.com/fitch">432223_pr_frame</fitch:docid><category>Credit &amp; Investment Research</category><alacra:ip>Fitch Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/moodys/COP_820346182</link><guid isPermaLink="false">moodys/COP_820346182</guid><moodys:index_mode xmlns:moodys="http://www.alacra.com/moodys">html</moodys:index_mode><description>Global Credit Research Credit Opinion ## AUG ####   Credit Opinion: Flagstone Reinsurance Holdings Limited Flagstone Reinsurance Holdings Limited Hamilton, Bermuda Ratings Category Moody's Rating Rating Outlook RUR LT Issuer Rating Baa#...</description><pubDate>8/27/2008 12:53:53 AM</pubDate><moodys:format xmlns:moodys="http://www.alacra.com/moodys">html</moodys:format><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">Flagstone Reinsurance Holdings Limited</moodys:issuer><moodys:issuer_list xmlns:moodys="http://www.alacra.com/moodys">Flagstone Reinsurance Holdings Limited</moodys:issuer_list><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">820346182</moodys:org_id><moodys:price xmlns:moodys="http://www.alacra.com/moodys">150.0000</moodys:price><moodys:report_class xmlns:moodys="http://www.alacra.com/moodys">News</moodys:report_class><moodys:report_type xmlns:moodys="http://www.alacra.com/moodys">Credit Opinion</moodys:report_type><title>Flagstone Reinsurance Holdings Limited</title><moodys:docid xmlns:moodys="http://www.alacra.com/moodys">COP_820346182</moodys:docid><category>Credit &amp; Investment Research</category><alacra:ip>Moody's Global Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/ccbn/T1906496</link><guid isPermaLink="false">ccbn/T1906496</guid><ccbn:index_mode xmlns:ccbn="http://www.alacra.com/ccbn">norm</ccbn:index_mode><description>...Good day, ladies and gentlemen, and welcome to the Flagstone Reinsurance Holdings first-quarter #### earnings conference call. My name is Silvana and I will be your coordinator for today. At this time all participants are in the listen-only mode. We will be facilitating a question-and-answer session towards the end of today's conference. (OPERATOR INSTRUCTIONS). As a reminder, this call is being recorded for replay purposes. It is now my pleasure to introduce you to your host for today's conference, Brenton Slade, Flagstone's Director of investor relations. Brenton, please proceed. ...

</description><pubDate>8/5/2008 12:06:00 PM</pubDate><ccbn:name xmlns:ccbn="http://www.alacra.com/ccbn">Flagstone Reinsurance Holdings Ltd.</ccbn:name><ccbn:price xmlns:ccbn="http://www.alacra.com/ccbn">106.0000</ccbn:price><ccbn:revision xmlns:ccbn="http://www.alacra.com/ccbn">Final</ccbn:revision><ccbn:storetitle xmlns:ccbn="http://www.alacra.com/ccbn">Flagstone Reinsurance Holdings Ltd. Q2 2008 Earnings Conference Call Transcript</ccbn:storetitle><ccbn:ticker xmlns:ccbn="http://www.alacra.com/ccbn">FSR</ccbn:ticker><ccbn:time xmlns:ccbn="http://www.alacra.com/ccbn">9:30am ET</ccbn:time><title>Flagstone Reinsurance Holdings Ltd. Q2 2008 Earnings Conference Call Transcript</title><ccbn:type xmlns:ccbn="http://www.alacra.com/ccbn">Transcript</ccbn:type><ccbn:docid xmlns:ccbn="http://www.alacra.com/ccbn">T1906496</ccbn:docid><category>Credit &amp; Investment Research</category><alacra:ip>Thomson StreetEvents</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/newstex/MCOM-0004-27177683</link><guid isPermaLink="false">newstex/MCOM-0004-27177683</guid><newstex:index_mode xmlns:newstex="http://www.alacra.com/newstex">xml</newstex:index_mode><description> Aug. #, #### (M# Communications Ltd. delivered by Newstex) -- Flagstone Reinsurance Holdings Limited (NYSE: FSR), which writes property, property catastrophe and short-tail specialty and casualty reinsurance, reported yesterday (# August)...</description><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04000000</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04016000</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04016048</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04016018</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04016003</newstex:cat><pubDate>8/5/2008 11:19:35 AM</pubDate><newstex:event xmlns:newstex="http://www.alacra.com/newstex">18000000</newstex:event><newstex:event xmlns:newstex="http://www.alacra.com/newstex">18004000</newstex:event><newstex:event xmlns:newstex="http://www.alacra.com/newstex">18008000</newstex:event><newstex:Publication xmlns:newstex="http://www.alacra.com/newstex">M2 EquityBites</newstex:Publication><title>Flagstone Reinsurance Holdings Limited reports Q2 and half year 2008 financial results</title><newstex:docid xmlns:newstex="http://www.alacra.com/newstex">MCOM-0004-27177683</newstex:docid><newstex:index_entry_company xmlns:newstex="http://www.alacra.com/newstex">FLAGSTONE REINSURANCE HOLDINGS LTD</newstex:index_entry_company><newstex:index_entry_ticker xmlns:newstex="http://www.alacra.com/newstex">FSR</newstex:index_entry_ticker><category>News</category><alacra:ip>Newstex</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/fitch/390074_report_frame</link><guid isPermaLink="false">fitch/390074_report_frame</guid><fitch:index_mode xmlns:fitch="http://www.alacra.com/fitch">pdf</fitch:index_mode><description>Fitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.</description><fitch:company xmlns:fitch="http://www.alacra.com/fitch">Flagstone Finance S.A.</fitch:company><fitch:company xmlns:fitch="http://www.alacra.com/fitch">Flagstone Reassurance Suisse S.A.</fitch:company><fitch:company xmlns:fitch="http://www.alacra.com/fitch">Flagstone Reinsurance Holdings Limited</fitch:company><fitch:company xmlns:fitch="http://www.alacra.com/fitch">Flagstone Reinsurance Limited</fitch:company><fitch:companyid xmlns:fitch="http://www.alacra.com/fitch">85447280</fitch:companyid><fitch:companyid xmlns:fitch="http://www.alacra.com/fitch">85447285</fitch:companyid><fitch:companyid xmlns:fitch="http://www.alacra.com/fitch">85447290</fitch:companyid><fitch:companyid xmlns:fitch="http://www.alacra.com/fitch">86961767</fitch:companyid><pubDate>6/16/2008 6:29:00 PM</pubDate><fitch:industry xmlns:fitch="http://www.alacra.com/fitch">01010300</fitch:industry><fitch:industry xmlns:fitch="http://www.alacra.com/fitch">01010309</fitch:industry><fitch:price xmlns:fitch="http://www.alacra.com/fitch">425</fitch:price><fitch:report xmlns:fitch="http://www.alacra.com/fitch">Full Rating Report</fitch:report><fitch:ticker xmlns:fitch="http://www.alacra.com/fitch">FSR</fitch:ticker><title>Flagstone Reinsurance Holdings Limited (And Insurance Company Subsidiaries)</title><fitch:docid xmlns:fitch="http://www.alacra.com/fitch">390074_report_frame</fitch:docid><category>Credit &amp; Investment Research</category><alacra:ip>Fitch Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/fitch/422423_pr_frame</link><guid isPermaLink="false">fitch/422423_pr_frame</guid><fitch:index_mode xmlns:fitch="http://www.alacra.com/fitch">html</fitch:index_mode><description>Fitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.</description><fitch:company xmlns:fitch="http://www.alacra.com/fitch">Flagstone Reassurance Suisse S.A.</fitch:company><fitch:company xmlns:fitch="http://www.alacra.com/fitch">Flagstone Reinsurance Holdings Limited</fitch:company><fitch:company xmlns:fitch="http://www.alacra.com/fitch">Flagstone Reinsurance Limited</fitch:company><fitch:companyid xmlns:fitch="http://www.alacra.com/fitch">85447280</fitch:companyid><fitch:companyid xmlns:fitch="http://www.alacra.com/fitch">85447285</fitch:companyid><fitch:companyid xmlns:fitch="http://www.alacra.com/fitch">85447290</fitch:companyid><pubDate>6/2/2008 6:35:00 PM</pubDate><fitch:industry xmlns:fitch="http://www.alacra.com/fitch">01010300</fitch:industry><fitch:industry xmlns:fitch="http://www.alacra.com/fitch">01010309</fitch:industry><fitch:price xmlns:fitch="http://www.alacra.com/fitch">85</fitch:price><fitch:report xmlns:fitch="http://www.alacra.com/fitch">Press Release</fitch:report><fitch:ticker xmlns:fitch="http://www.alacra.com/fitch">FSR</fitch:ticker><title>Fitch Affirm Flagstone Re's IFS at 'A-'; Outlook Stable</title><fitch:docid xmlns:fitch="http://www.alacra.com/fitch">422423_pr_frame</fitch:docid><category>Credit &amp; Investment Research</category><alacra:ip>Fitch Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/ccbn/T1830396</link><guid isPermaLink="false">ccbn/T1830396</guid><ccbn:index_mode xmlns:ccbn="http://www.alacra.com/ccbn">norm</ccbn:index_mode><description>...Good day, ladies and gentlemen and welcome to the Flagstone Reinsurance Holdings first quarter #### earnings conference call. My name is Akea and I will be your operator for today. (OPERATOR INSTRUCTIONS). I would now like to turn the presentation over to your host for today's call, Mr. Brenton Slade. ...

</description><pubDate>5/6/2008 1:06:00 PM</pubDate><ccbn:name xmlns:ccbn="http://www.alacra.com/ccbn">Flagstone Reinsurance Holdings Ltd.</ccbn:name><ccbn:price xmlns:ccbn="http://www.alacra.com/ccbn">54.0000</ccbn:price><ccbn:revision xmlns:ccbn="http://www.alacra.com/ccbn">Final</ccbn:revision><ccbn:storetitle xmlns:ccbn="http://www.alacra.com/ccbn">Q1 2008 Flagstone Reinsurance Holdings Ltd. Earnings Conference Call Transcript</ccbn:storetitle><ccbn:ticker xmlns:ccbn="http://www.alacra.com/ccbn">FSR</ccbn:ticker><ccbn:time xmlns:ccbn="http://www.alacra.com/ccbn">9:30am ET</ccbn:time><title>Q1 2008 Flagstone Reinsurance Holdings Ltd. Earnings Conference Call Transcript</title><ccbn:type xmlns:ccbn="http://www.alacra.com/ccbn">Transcript</ccbn:type><ccbn:docid xmlns:ccbn="http://www.alacra.com/ccbn">T1830396</ccbn:docid><category>Credit &amp; Investment Research</category><alacra:ip>Thomson StreetEvents</alacra:ip></item><item><title>Flagstone Reinsurance Holdings acquires a minority stake in Alliance International (pending)</title><description>CYPRUS - Flagstone Reinsurance Ltd of Bermuda agreed to acquire a ##.#% stake in Alliance International Reinsurance Public Co Ltd, a Limassol-based provider of reinsurance services, in a privately negotiated transaction. Terms were not disclosed. The transaction was subject to regulatory approval and due diligence and closing conditions.</description><pubDate>4/30/2008 5:15:34 PM</pubDate><sdc:company_cusip xmlns:sdc="http://www.alacra.com/sdc">G3529T</sdc:company_cusip><sdc:target_company_cusip xmlns:sdc="http://www.alacra.com/sdc">01847K</sdc:target_company_cusip><sdc:company_cusip_up xmlns:sdc="http://www.alacra.com/sdc">G3529T</sdc:company_cusip_up><sdc:target_company_cusip_up xmlns:sdc="http://www.alacra.com/sdc">01847K</sdc:target_company_cusip_up><sdc:company xmlns:sdc="http://www.alacra.com/sdc">Flagstone Reinsurance Holdings Ltd</sdc:company><sdc:target_company xmlns:sdc="http://www.alacra.com/sdc">Alliance International Reinsurance Public Co Ltd</sdc:target_company><sdc:company_up xmlns:sdc="http://www.alacra.com/sdc">Flagstone Reinsurance Holdings Ltd</sdc:company_up><sdc:target_company_up xmlns:sdc="http://www.alacra.com/sdc">Alliance International Reinsurance Public Co Ltd</sdc:target_company_up><link>http://www.alacrastore.com/storecontent/Thomson_M%26A/Flagstone_Reinsurance_Holdings_acquires_a_minority_stake_in_Alliance_International-1973384040</link><guid isPermaLink="false">sdc/1973384040</guid><sdc:deal xmlns:sdc="http://www.alacra.com/sdc"><sdc:deal_no>1973384040</sdc:deal_no><sdc:_copyright><sdc:value>Copyright Â© 2008, Thomson Financial, All Rights Reserved</sdc:value></sdc:_copyright><sdc:a_EXCHANGE><sdc:value>New York</sdc:value></sdc:a_EXCHANGE><sdc:a_MAINDUSTRY><sdc:value>Insurance</sdc:value></sdc:a_MAINDUSTRY><sdc:a_NATION><sdc:value>Bermuda</sdc:value></sdc:a_NATION><sdc:a_SICDESC><sdc:value>Fire, marine, and casualty insurance</sdc:value></sdc:a_SICDESC><sdc:a_SICPI><sdc:value>6331</sdc:value></sdc:a_SICPI><sdc:a_STATE><sdc:value>FF</sdc:value></sdc:a_STATE><sdc:a_STATELONG><sdc:value>Foreign</sdc:value></sdc:a_STATELONG><sdc:a_STATUS><sdc:value>Public</sdc:value></sdc:a_STATUS><sdc:a_TICKER><sdc:value>FSR</sdc:value></sdc:a_TICKER><sdc:asic_SIC><sdc:value sdc:p="0">6311:Life insurance</sdc:value><sdc:value sdc:p="1">6321:Accidental and health insurance</sdc:value><sdc:value sdc:p="2">6331:Fire, marine, and casualty insurance</sdc:value><sdc:value sdc:p="3">6351:Surety insurance</sdc:value></sdc:asic_SIC><sdc:aupsic_SIC><sdc:value sdc:p="0">6311:Life insurance</sdc:value><sdc:value sdc:p="1">6321:Accidental and health insurance</sdc:value><sdc:value sdc:p="2">6331:Fire, marine, and casualty insurance</sdc:value><sdc:value sdc:p="3">6351:Surety insurance</sdc:value></sdc:aupsic_SIC><sdc:b_EXCHANGE><sdc:value>Cyprus</sdc:value></sdc:b_EXCHANGE><sdc:b_MAINDUSTRY><sdc:value>Insurance</sdc:value></sdc:b_MAINDUSTRY><sdc:b_NATION><sdc:value>Cyprus</sdc:value></sdc:b_NATION><sdc:b_SICDESC><sdc:value>Life insurance</sdc:value></sdc:b_SICDESC><sdc:b_SICPI><sdc:value>6311</sdc:value></sdc:b_SICPI><sdc:b_STATE><sdc:value>FF</sdc:value></sdc:b_STATE><sdc:b_STATELONG><sdc:value>Foreign</sdc:value></sdc:b_STATELONG><sdc:b_STATUS><sdc:value>Public</sdc:value></sdc:b_STATUS><sdc:b_TICKER><sdc:value>ALL</sdc:value></sdc:b_TICKER><sdc:c_ACIDGEN><sdc:value>961352002</sdc:value></sdc:c_ACIDGEN><sdc:c2up_BUSS><sdc:value>Pvd reinsurance svcs</sdc:value></sdc:c2up_BUSS><sdc:c3up_BUSS><sdc:value>Pvd reinsurance svcs</sdc:value></sdc:c3up_BUSS><sdc:co_DESCR><sdc:value>Unspecified</sdc:value></sdc:co_DESCR><sdc:cs_DESCR><sdc:value>Ordinary Share</sdc:value></sdc:cs_DESCR><sdc:d_TCIDGEN><sdc:value>867102001</sdc:value></sdc:d_TCIDGEN><sdc:date_lastupdate><sdc:value>Apr 30 2008</sdc:value></sdc:date_lastupdate><sdc:finbltm_BV><sdc:value>0.00000</sdc:value></sdc:finbltm_BV><sdc:finbltm_CASH><sdc:value>0.00000</sdc:value></sdc:finbltm_CASH><sdc:finbltm_CASHFLOW><sdc:value>0.00000</sdc:value></sdc:finbltm_CASHFLOW><sdc:finbltm_CASHFLOW1><sdc:value>0.00000</sdc:value></sdc:finbltm_CASHFLOW1><sdc:finbltm_CASHFLOW2><sdc:value>0.00000</sdc:value></sdc:finbltm_CASHFLOW2><sdc:finbltm_CASHFLOW3><sdc:value>0.00000</sdc:value></sdc:finbltm_CASHFLOW3><sdc:finbltm_CASHFLOW4><sdc:value>0.00000</sdc:value></sdc:finbltm_CASHFLOW4><sdc:finbltm_CASHFLOW5><sdc:value>0.00000</sdc:value></sdc:finbltm_CASHFLOW5><sdc:finbltm_COMEQ><sdc:value>0.00000</sdc:value></sdc:finbltm_COMEQ><sdc:finbltm_DEBTRAT><sdc:value>0.00000</sdc:value></sdc:finbltm_DEBTRAT><sdc:finbltm_DSER2><sdc:value>0.00000</sdc:value></sdc:finbltm_DSER2><sdc:finbltm_EBIT><sdc:value>0.00000</sdc:value></sdc:finbltm_EBIT><sdc:finbltm_EPS><sdc:value>0.00000</sdc:value></sdc:finbltm_EPS><sdc:finbltm_NI><sdc:value>0.00000</sdc:value></sdc:finbltm_NI><sdc:finbltm_PTINC><sdc:value>0.00000</sdc:value></sdc:finbltm_PTINC><sdc:finbltm_SALES><sdc:value>0.00000</sdc:value></sdc:finbltm_SALES><sdc:finbltm_STDEBT><sdc:value>0.00000</sdc:value></sdc:finbltm_STDEBT><sdc:finbltm_TASS><sdc:value>0.00000</sdc:value></sdc:finbltm_TASS><sdc:fiscal_ADCR><sdc:value>0.00000</sdc:value></sdc:fiscal_ADCR><sdc:fiscal_ANI><sdc:value>0.00000</sdc:value></sdc:fiscal_ANI><sdc:fiscal_APFDCR><sdc:value>0.00000</sdc:value></sdc:fiscal_APFDCR><sdc:fiscal_ASALES><sdc:value>0.00000</sdc:value></sdc:fiscal_ASALES><sdc:fiscal_ATASS><sdc:value>0.00000</sdc:value></sdc:fiscal_ATASS><sdc:fiscal_RATE><sdc:value>0.00000</sdc:value></sdc:fiscal_RATE><sdc:g_SEQ><sdc:value sdc:p="0">1.00000</sdc:value><sdc:value sdc:p="1">2.00000</sdc:value><sdc:value sdc:p="2">3.00000</sdc:value><sdc:value sdc:p="3">4.00000</sdc:value><sdc:value sdc:p="4">5.00000</sdc:value><sdc:value sdc:p="5">6.00000</sdc:value><sdc:value sdc:p="6">7.00000</sdc:value><sdc:value sdc:p="7">8.00000</sdc:value></sdc:g_SEQ><sdc:g_TEST><sdc:value sdc:p="0">Flagstone Reinsurance Ltd,</sdc:value><sdc:value sdc:p="1">located in Hamilton, Bermuda,</sdc:value><sdc:value sdc:p="2">provides reinsurance services</sdc:value><sdc:value sdc:p="3">including property, property</sdc:value><sdc:value sdc:p="4">catastrophe and specialty</sdc:value><sdc:value sdc:p="5">reinsurance services. The</sdc:value><sdc:value sdc:p="6">company was founded in</sdc:value><sdc:value sdc:p="7">December 2005.</sdc:value></sdc:g_TEST><sdc:g_business><sdc:value sdc:p="0">Flagstone Reinsurance Ltd, located in Hamilton, Bermuda,</sdc:value><sdc:value sdc:p="1">provides reinsurance services including property, property</sdc:value><sdc:value sdc:p="2">catastrophe and specialty reinsurance services. The company</sdc:value><sdc:value sdc:p="3">was founded in December 2005.</sdc:value></sdc:g_business><sdc:g_business1><sdc:value>Flagstone Reinsurance Ltd, located in Hamilton, Bermuda, provides reinsurance services including property, property catastrophe and specialty reinsurance services. The company was founded in December 2005.</sdc:value></sdc:g_business1><sdc:h_SEQ><sdc:value sdc:p="0">1.00000</sdc:value><sdc:value sdc:p="1">2.00000</sdc:value><sdc:value sdc:p="2">3.00000</sdc:value><sdc:value sdc:p="3">4.00000</sdc:value><sdc:value sdc:p="4">5.00000</sdc:value><sdc:value sdc:p="5">6.00000</sdc:value><sdc:value sdc:p="6">7.00000</sdc:value><sdc:value sdc:p="7">8.00000</sdc:value><sdc:value sdc:p="8">9.00000</sdc:value><sdc:value sdc:p="9">10.00000</sdc:value><sdc:value sdc:p="10">11.00000</sdc:value><sdc:value sdc:p="11">12.00000</sdc:value><sdc:value sdc:p="12">13.00000</sdc:value><sdc:value sdc:p="13">14.00000</sdc:value></sdc:h_SEQ><sdc:h_TEST><sdc:value sdc:p="0">Alliance International</sdc:value><sdc:value sdc:p="1">Reinsurance Public Co Ltd,</sdc:value><sdc:value sdc:p="2">located in Limassol, Cyprus,</sdc:value><sdc:value sdc:p="3">provides reinsurance services.</sdc:value><sdc:value sdc:p="4">The companys products include</sdc:value><sdc:value sdc:p="5">property &amp; casualty</sdc:value><sdc:value sdc:p="6">reinsurance which includes</sdc:value><sdc:value sdc:p="7">property treaty, property &amp;</sdc:value><sdc:value sdc:p="8">accident facultative, marine</sdc:value><sdc:value sdc:p="9">treaty, motor and accident</sdc:value><sdc:value sdc:p="10">treaty, aviation facultative,</sdc:value><sdc:value sdc:p="11">direct insurance, and claims.</sdc:value><sdc:value sdc:p="12">The company was founded in</sdc:value><sdc:value sdc:p="13">1994.</sdc:value></sdc:h_TEST><sdc:h_business><sdc:value sdc:p="0">Alliance International Reinsurance Public Co Ltd, located in</sdc:value><sdc:value sdc:p="1">Limassol, Cyprus, provides reinsurance services. The</sdc:value><sdc:value sdc:p="2">companys products include property &amp; casualty reinsurance</sdc:value><sdc:value sdc:p="3">which includes property treaty, property &amp; accident</sdc:value><sdc:value sdc:p="4">facultative, marine treaty, motor and accident treaty,</sdc:value><sdc:value sdc:p="5">aviation facultative, direct insurance, and claims. The</sdc:value><sdc:value sdc:p="6">company was founded in 1994.</sdc:value></sdc:h_business><sdc:h_business1><sdc:value>Alliance International Reinsurance Public Co Ltd, located in Limassol, Cyprus, provides reinsurance services. The companys products include property &amp; casualty reinsurance which includes property treaty, property &amp; accident facultative, marine treaty, motor and accident treaty, aviation facultative, direct insurance, and claims. The company was founded in 1994.</sdc:value></sdc:h_business1><sdc:i_AFEEPCT><sdc:value>0.00000</sdc:value></sdc:i_AFEEPCT><sdc:i_AFEETOT><sdc:value>0.00000</sdc:value></sdc:i_AFEETOT><sdc:i_ATERMFEE><sdc:value>0.00000</sdc:value></sdc:i_ATERMFEE><sdc:i_COMOUT><sdc:value>0.00000</sdc:value></sdc:i_COMOUT><sdc:i_CROSS1><sdc:value>Y</sdc:value></sdc:i_CROSS1><sdc:i_DATEANN><sdc:value>28 Apr 08</sdc:value></sdc:i_DATEANN><sdc:i_DATEANN2><sdc:value>Mon, 28 Apr 2008 00:00:00 EST</sdc:value></sdc:i_DATEANN2><sdc:i_DATEANNS><sdc:value>Date Announced: 04/28/2008</sdc:value></sdc:i_DATEANNS><sdc:i_DATEEFFS><sdc:value>Date Effective:</sdc:value></sdc:i_DATEEFFS><sdc:i_DESCR><sdc:value>Acq. Part. Int.</sdc:value></sdc:i_DESCR><sdc:i_DESCR1><sdc:value>Friendly</sdc:value></sdc:i_DESCR1><sdc:i_FEEPCT><sdc:value>0.00000</sdc:value></sdc:i_FEEPCT><sdc:i_FEETOT><sdc:value>0.00000</sdc:value></sdc:i_FEETOT><sdc:i_HOSTAFEETOT><sdc:value>0.00000</sdc:value></sdc:i_HOSTAFEETOT><sdc:i_HOSTENTVAL><sdc:value>0.00000</sdc:value></sdc:i_HOSTENTVAL><sdc:i_HOSTFEETOT><sdc:value>0.00000</sdc:value></sdc:i_HOSTFEETOT><sdc:i_HOSTPR><sdc:value>0.00000</sdc:value></sdc:i_HOSTPR><sdc:i_HOSTPRLABEL><sdc:value>Price/Share</sdc:value></sdc:i_HOSTPRLABEL><sdc:i_HOSTTFEETOT><sdc:value>0.00000</sdc:value></sdc:i_HOSTTFEETOT><sdc:i_HOSTVALUE><sdc:value>0</sdc:value></sdc:i_HOSTVALUE><sdc:i_HOSTVALUE1><sdc:value>0.00000</sdc:value></sdc:i_HOSTVALUE1><sdc:i_HOST_EQVAL><sdc:value>0.00000</sdc:value></sdc:i_HOST_EQVAL><sdc:i_HOST_RANKVAL><sdc:value>0</sdc:value></sdc:i_HOST_RANKVAL><sdc:i_HOST_RANKVAL1><sdc:value>0.00000</sdc:value></sdc:i_HOST_RANKVAL1><sdc:i_PCTACQ><sdc:value>0.00000</sdc:value></sdc:i_PCTACQ><sdc:i_PCTOWN><sdc:value>0.00000</sdc:value></sdc:i_PCTOWN><sdc:i_PR><sdc:value>0.00000</sdc:value></sdc:i_PR><sdc:i_PR_INITIAL><sdc:value>0.00000</sdc:value></sdc:i_PR_INITIAL><sdc:i_RANKVAL><sdc:value>0.00000</sdc:value></sdc:i_RANKVAL><sdc:i_RANK_HOSTRANKVAL><sdc:value>0</sdc:value></sdc:i_RANK_HOSTRANKVAL><sdc:i_RATE><sdc:value>0.00000</sdc:value></sdc:i_RATE><sdc:i_STATUS_MMC><sdc:value>N</sdc:value></sdc:i_STATUS_MMC><sdc:i_STGVAL><sdc:value>0.00000</sdc:value></sdc:i_STGVAL><sdc:i_TERMFEE><sdc:value>0.00000</sdc:value></sdc:i_TERMFEE><sdc:i_TFEEPCT><sdc:value>0.00000</sdc:value></sdc:i_TFEEPCT><sdc:i_TFEETOT><sdc:value>0.00000</sdc:value></sdc:i_TFEETOT><sdc:i_TTERMFEE><sdc:value>0.00000</sdc:value></sdc:i_TTERMFEE><sdc:i_VALLIA><sdc:value>0.00000</sdc:value></sdc:i_VALLIA><sdc:i_VALNOLIA><sdc:value>0.00000</sdc:value></sdc:i_VALNOLIA><sdc:i_VALUE><sdc:value>0.00000</sdc:value></sdc:i_VALUE><sdc:j_EQVALCF><sdc:value>0.00000</sdc:value></sdc:j_EQVALCF><sdc:j_EVCF><sdc:value>0.00000</sdc:value></sdc:j_EVCF><sdc:j_EVEBIT><sdc:value>0.00000</sdc:value></sdc:j_EVEBIT><sdc:j_EVNI><sdc:value>0.00000</sdc:value></sdc:j_EVNI><sdc:j_EVSALES><sdc:value>0.00000</sdc:value></sdc:j_EVSALES><sdc:j_MPRICEBOOK><sdc:value>0.00000</sdc:value></sdc:j_MPRICEBOOK><sdc:j_PHELD><sdc:value>0.00000</sdc:value></sdc:j_PHELD><sdc:j_PSOUGHT><sdc:value>29.90000</sdc:value></sdc:j_PSOUGHT><sdc:j_RANKVALCF><sdc:value>0.00000</sdc:value></sdc:j_RANKVALCF><sdc:j_RANKVALEB><sdc:value>0.00000</sdc:value></sdc:j_RANKVALEB><sdc:j_RANKVALNA><sdc:value>0.00000</sdc:value></sdc:j_RANKVALNA><sdc:j_RANKVALNI><sdc:value>0.00000</sdc:value></sdc:j_RANKVALNI><sdc:j_RANKVALSALES><sdc:value>0.00000</sdc:value></sdc:j_RANKVALSALES><sdc:j_VALEB><sdc:value>0.00000</sdc:value></sdc:j_VALEB><sdc:j_VALNI><sdc:value>0.00000</sdc:value></sdc:j_VALNI><sdc:j_VALSALES><sdc:value>0.00000</sdc:value></sdc:j_VALSALES><sdc:m_AMV><sdc:value>0.00000</sdc:value></sdc:m_AMV><sdc:m_CF3YGR><sdc:value>0.00000</sdc:value></sdc:m_CF3YGR><sdc:m_CF5YGR><sdc:value>0.00000</sdc:value></sdc:m_CF5YGR><sdc:m_DCR><sdc:value>0.00000</sdc:value></sdc:m_DCR><sdc:m_ENTVAL><sdc:value>0.00000</sdc:value></sdc:m_ENTVAL><sdc:m_EPS3YGR><sdc:value>0.00000</sdc:value></sdc:m_EPS3YGR><sdc:m_EPS5YGR><sdc:value>0.00000</sdc:value></sdc:m_EPS5YGR><sdc:m_LTD><sdc:value>0.00000</sdc:value></sdc:m_LTD><sdc:m_MV><sdc:value>0.00000</sdc:value></sdc:m_MV><sdc:m_NETASS><sdc:value>0.00000</sdc:value></sdc:m_NETASS><sdc:m_NETASS3YGR><sdc:value>0.00000</sdc:value></sdc:m_NETASS3YGR><sdc:m_NETASS5YGR><sdc:value>0.00000</sdc:value></sdc:m_NETASS5YGR><sdc:m_NI3YGR><sdc:value>0.00000</sdc:value></sdc:m_NI3YGR><sdc:m_NI5YGR><sdc:value>0.00000</sdc:value></sdc:m_NI5YGR><sdc:n_SEQ><sdc:value sdc:p="0">1.00000</sdc:value><sdc:value sdc:p="1">2.00000</sdc:value><sdc:value sdc:p="2">3.00000</sdc:value><sdc:value sdc:p="3">4.00000</sdc:value><sdc:value sdc:p="4">5.00000</sdc:value><sdc:value sdc:p="5">6.00000</sdc:value><sdc:value sdc:p="6">7.00000</sdc:value><sdc:value sdc:p="7">8.00000</sdc:value><sdc:value sdc:p="8">9.00000</sdc:value><sdc:value sdc:p="9">10.00000</sdc:value><sdc:value sdc:p="10">11.00000</sdc:value><sdc:value sdc:p="11">12.00000</sdc:value><sdc:value sdc:p="12">13.00000</sdc:value></sdc:n_SEQ><sdc:n_SYNOPSIS><sdc:value sdc:p="0">CYPRUS - Flagstone Reinsurance</sdc:value><sdc:value sdc:p="1">Ltd of Bermuda agreed to</sdc:value><sdc:value sdc:p="2">acquire a 29.9% stake in</sdc:value><sdc:value sdc:p="3">Alliance International</sdc:value><sdc:value sdc:p="4">Reinsurance Public Co Ltd, a</sdc:value><sdc:value sdc:p="5">Limassol-based provider of</sdc:value><sdc:value sdc:p="6">reinsurance services, in a</sdc:value><sdc:value sdc:p="7">privately negotiated</sdc:value><sdc:value sdc:p="8">transaction. Terms were not</sdc:value><sdc:value sdc:p="9">disclosed. The transaction was</sdc:value><sdc:value sdc:p="10">subject to regulatory approval</sdc:value><sdc:value sdc:p="11">and due diligence and closing</sdc:value><sdc:value sdc:p="12">conditions.</sdc:value></sdc:n_SYNOPSIS><sdc:n_synopsis2><sdc:value>CYPRUS - Flagstone Reinsurance Ltd of Bermuda agreed to acquire a 29.9% stake in Alliance International Reinsurance Public Co Ltd, a Limassol-based provider of reinsurance services, in a privately negotiated transaction. Terms were not disclosed. The transaction was subject to regulatory approval and due diligence and closing conditions.</sdc:value></sdc:n_synopsis2><sdc:n_synopsis3><sdc:value sdc:p="0">CYPRUS - Flagstone Reinsurance Ltd of Bermuda agreed to acquire a 29.9% stake in Alliance</sdc:value><sdc:value sdc:p="1">International Reinsurance Public Co Ltd, a Limassol-based provider of reinsurance</sdc:value><sdc:value sdc:p="2">services, in a privately negotiated transaction. Terms were not disclosed. The transaction</sdc:value><sdc:value sdc:p="3">was subject to regulatory approval and due diligence and closing conditions.</sdc:value></sdc:n_synopsis3><sdc:n_synopsis4><sdc:value sdc:p="0">CYPRUS - Flagstone Reinsurance Ltd of Bermuda agreed to acquire a 29.9% stake in Alliance International Reinsurance Public Co Ltd, a Limassol-based provider of reinsurance services, in a privately</sdc:value><sdc:value sdc:p="1">negotiated transaction. Terms were not disclosed. The transaction was subject to regulatory approval and due diligence and closing conditions.</sdc:value></sdc:n_synopsis4><sdc:n_synopsis5><sdc:value sdc:p="0">CYPRUS - Flagstone Reinsurance Ltd of Bermuda agreed to acquire a 29.9% stake in Alliance International Reinsurance Public Co Ltd, a</sdc:value><sdc:value sdc:p="1">Limassol-based provider of reinsurance services, in a privately negotiated transaction. Terms were not disclosed. The transaction was</sdc:value><sdc:value sdc:p="2">subject to regulatory approval and due diligence and closing conditions.</sdc:value></sdc:n_synopsis5><sdc:q_DESCR><sdc:value>Pending</sdc:value></sdc:q_DESCR><sdc:q_HOSTANETASS><sdc:value>0.00000</sdc:value></sdc:q_HOSTANETASS><sdc:q_HOSTANILTM><sdc:value>0.00000</sdc:value></sdc:q_HOSTANILTM><sdc:q_HOSTASALESLTM><sdc:value>0.00000</sdc:value></sdc:q_HOSTASALESLTM><sdc:q_HOSTATASS><sdc:value>0.00000</sdc:value></sdc:q_HOSTATASS><sdc:q_HOSTBOOKVALUE><sdc:value>0.00000</sdc:value></sdc:q_HOSTBOOKVALUE><sdc:q_HOSTCASHFLOW><sdc:value>0.00000</sdc:value></sdc:q_HOSTCASHFLOW><sdc:q_HOSTCASHFLOW1><sdc:value>0.00000</sdc:value></sdc:q_HOSTCASHFLOW1><sdc:q_HOSTCASHFLOW2><sdc:value>0.00000</sdc:value></sdc:q_HOSTCASHFLOW2><sdc:q_HOSTCASHFLOW3><sdc:value>0.00000</sdc:value></sdc:q_HOSTCASHFLOW3><sdc:q_HOSTCASHFLOW4><sdc:value>0.00000</sdc:value></sdc:q_HOSTCASHFLOW4><sdc:q_HOSTCASHFLOW5><sdc:value>0.00000</sdc:value></sdc:q_HOSTCASHFLOW5><sdc:q_HOSTCOMMONEQUITY><sdc:value>0.00000</sdc:value></sdc:q_HOSTCOMMONEQUITY><sdc:q_HOSTEBITLTM><sdc:value>0.00000</sdc:value></sdc:q_HOSTEBITLTM><sdc:q_HOSTEPS1><sdc:value>0.00000</sdc:value></sdc:q_HOSTEPS1><sdc:q_HOSTEPS2><sdc:value>0.00000</sdc:value></sdc:q_HOSTEPS2><sdc:q_HOSTEPS3><sdc:value>0.00000</sdc:value></sdc:q_HOSTEPS3><sdc:q_HOSTEPS4><sdc:value>0.00000</sdc:value></sdc:q_HOSTEPS4><sdc:q_HOSTEPS5><sdc:value>0.00000</sdc:value></sdc:q_HOSTEPS5><sdc:q_HOSTEPSLTM><sdc:value>0.00000</sdc:value></sdc:q_HOSTEPSLTM><sdc:q_HOSTNETASS><sdc:value>0.00000</sdc:value></sdc:q_HOSTNETASS><sdc:q_HOSTNETASS1><sdc:value>0.00000</sdc:value></sdc:q_HOSTNETASS1><sdc:q_HOSTNETASS2><sdc:value>0.00000</sdc:value></sdc:q_HOSTNETASS2><sdc:q_HOSTNETASS3><sdc:value>0.00000</sdc:value></sdc:q_HOSTNETASS3><sdc:q_HOSTNETASS4><sdc:value>0.00000</sdc:value></sdc:q_HOSTNETASS4><sdc:q_HOSTNETASS5><sdc:value>0.00000</sdc:value></sdc:q_HOSTNETASS5><sdc:q_HOSTNI1><sdc:value>0.00000</sdc:value></sdc:q_HOSTNI1><sdc:q_HOSTNI2><sdc:value>0.00000</sdc:value></sdc:q_HOSTNI2><sdc:q_HOSTNI3><sdc:value>0.00000</sdc:value></sdc:q_HOSTNI3><sdc:q_HOSTNI4><sdc:value>0.00000</sdc:value></sdc:q_HOSTNI4><sdc:q_HOSTNI5><sdc:value>0.00000</sdc:value></sdc:q_HOSTNI5><sdc:q_HOSTNILTM><sdc:value>0.00000</sdc:value></sdc:q_HOSTNILTM><sdc:q_HOSTPTINC1><sdc:value>0.00000</sdc:value></sdc:q_HOSTPTINC1><sdc:q_HOSTPTINC2><sdc:value>0.00000</sdc:value></sdc:q_HOSTPTINC2><sdc:q_HOSTPTINC3><sdc:value>0.00000</sdc:value></sdc:q_HOSTPTINC3><sdc:q_HOSTPTINC4><sdc:value>0.00000</sdc:value></sdc:q_HOSTPTINC4><sdc:q_HOSTPTINC5><sdc:value>0.00000</sdc:value></sdc:q_HOSTPTINC5><sdc:q_HOSTPTINCLTM><sdc:value>0.00000</sdc:value></sdc:q_HOSTPTINCLTM><sdc:q_HOSTSALES1><sdc:value>0.00000</sdc:value></sdc:q_HOSTSALES1><sdc:q_HOSTSALES2><sdc:value>0.00000</sdc:value></sdc:q_HOSTSALES2><sdc:q_HOSTSALES3><sdc:value>0.00000</sdc:value></sdc:q_HOSTSALES3><sdc:q_HOSTSALES4><sdc:value>0.00000</sdc:value></sdc:q_HOSTSALES4><sdc:q_HOSTSALES5><sdc:value>0.00000</sdc:value></sdc:q_HOSTSALES5><sdc:q_HOSTSALESLTM><sdc:value>0.00000</sdc:value></sdc:q_HOSTSALESLTM><sdc:q_HOSTTASS><sdc:value>0.00000</sdc:value></sdc:q_HOSTTASS><sdc:q_HOSTTASS1><sdc:value>0.00000</sdc:value></sdc:q_HOSTTASS1><sdc:q_HOSTTASS2><sdc:value>0.00000</sdc:value></sdc:q_HOSTTASS2><sdc:q_HOSTTASS3><sdc:value>0.00000</sdc:value></sdc:q_HOSTTASS3><sdc:q_HOSTTASS4><sdc:value>0.00000</sdc:value></sdc:q_HOSTTASS4><sdc:q_HOSTTASS5><sdc:value>0.00000</sdc:value></sdc:q_HOSTTASS5><sdc:q_STATUS><sdc:value>Status:Pending</sdc:value></sdc:q_STATUS><sdc:r_PE><sdc:value>-999.00000</sdc:value></sdc:r_PE><sdc:r_PE_PRINT><sdc:value>np</sdc:value></sdc:r_PE_PRINT><sdc:r_PFTMARG><sdc:value>0.00000</sdc:value></sdc:r_PFTMARG><sdc:r_PRICEBOOK><sdc:value>-999.00000</sdc:value></sdc:r_PRICEBOOK><sdc:r_PRICEBOOK_PRINT><sdc:value>np</sdc:value></sdc:r_PRICEBOOK_PRINT><sdc:r_PTINC3YGR><sdc:value>0.00000</sdc:value></sdc:r_PTINC3YGR><sdc:r_PTINC5YGR><sdc:value>0.00000</sdc:value></sdc:r_PTINC5YGR><sdc:r_ROE><sdc:value>0.00000</sdc:value></sdc:r_ROE><sdc:r_SALES3YGR><sdc:value>0.00000</sdc:value></sdc:r_SALES3YGR><sdc:r_SALES5YGR><sdc:value>0.00000</sdc:value></sdc:r_SALES5YGR><sdc:r_SE><sdc:value>0.00000</sdc:value></sdc:r_SE><sdc:r_TASS3YGR><sdc:value>0.00000</sdc:value></sdc:r_TASS3YGR><sdc:r_TASS5YGR><sdc:value>0.00000</sdc:value></sdc:r_TASS5YGR><sdc:r_TTCFMULT><sdc:value>0.00000</sdc:value></sdc:r_TTCFMULT><sdc:r_TTEBITMULT><sdc:value>0.00000</sdc:value></sdc:r_TTEBITMULT><sdc:r_VALNA><sdc:value>0.00000</sdc:value></sdc:r_VALNA><sdc:sic_SIC><sdc:value sdc:p="0">6311:Life insurance</sdc:value><sdc:value sdc:p="1">6321:Accidental and health insurance</sdc:value><sdc:value sdc:p="2">6531:Real estate agents and managers</sdc:value></sdc:sic_SIC><sdc:upa_UPACIDGEN><sdc:value>961352002</sdc:value></sdc:upa_UPACIDGEN><sdc:upa1_EXCHANGE><sdc:value>New York</sdc:value></sdc:upa1_EXCHANGE><sdc:upa1_NATION><sdc:value>Bermuda</sdc:value></sdc:upa1_NATION><sdc:upa1_SICP><sdc:value>6331</sdc:value></sdc:upa1_SICP><sdc:upa1_STATE><sdc:value>Foreign</sdc:value></sdc:upa1_STATE><sdc:upa1_STATUS><sdc:value>Public</sdc:value></sdc:upa1_STATUS><sdc:upa1_TICKER><sdc:value>FSR</sdc:value></sdc:upa1_TICKER><sdc:upsic_SIC><sdc:value sdc:p="0">6311:Life insurance</sdc:value><sdc:value sdc:p="1">6321:Accidental and health insurance</sdc:value><sdc:value sdc:p="2">6531:Real estate agents and managers</sdc:value></sdc:upsic_SIC><sdc:upt_UPTCIDGEN><sdc:value>867102001</sdc:value></sdc:upt_UPTCIDGEN><sdc:upt1_EXCHANGE><sdc:value>Cyprus</sdc:value></sdc:upt1_EXCHANGE><sdc:upt1_NATION><sdc:value>Cyprus</sdc:value></sdc:upt1_NATION><sdc:upt1_SICP><sdc:value>6311</sdc:value></sdc:upt1_SICP><sdc:upt1_STATE><sdc:value>Foreign</sdc:value></sdc:upt1_STATE><sdc:upt1_STATUS><sdc:value>Public</sdc:value></sdc:upt1_STATUS><sdc:upt1_TICKER><sdc:value>ALL</sdc:value></sdc:upt1_TICKER><sdc:x_RANK1_VALUE><sdc:value>0.00000</sdc:value></sdc:x_RANK1_VALUE><sdc:x_RANK_HOSTRANKVAL><sdc:value>0.00000</sdc:value></sdc:x_RANK_HOSTRANKVAL><sdc:x_RANK_RANKVAL><sdc:value>0.00000</sdc:value></sdc:x_RANK_RANKVAL><sdc:x_rank_rankstgval><sdc:value>0.00000</sdc:value></sdc:x_rank_rankstgval></sdc:deal><category>Deal Information</category><alacra:ip>TF Mergers &amp; Acquisitions</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/moodys/PBC_106803</link><guid isPermaLink="false">moodys/PBC_106803</guid><moodys:index_mode xmlns:moodys="http://www.alacra.com/moodys">pdf</moodys:index_mode><description>...Flagstone Reinsurance Holdings Limited (NYSE: FSR), together with its  subsidiaries (collectively the  Company ),  is a global reinsurance company that  writes primarily property and property catastrophe reinsurance and, to a lesser  extent, short-tail specialty and casualty reinsurance.  The Company was founded  in late #### to ta ke advantage of the hard catast rophe reinsurance market that  followed the severe #### hurricane season.  It went public in March ####.  In ####, the Company reported $### millio n of gross premiums written and $###  million of net income.  For the first nine m onths of ####, it reported $### million of  gross premiums written and $### million of  net income.  As of September ##,  ####, shareholders  equity was $#.## billion.    The majority of the Company s risks are rela ted to natural catastrophes in Europe  and North America, as well as in Japan,  Australasia and the Caribbean.  The  Company plans to diversify its risk portfolio by growing specialty business...

</description><moodys:report_type xmlns:moodys="http://www.alacra.com/moodys">Company Profile</moodys:report_type><pubDate>3/30/2008 8:45:36 PM</pubDate><title>Flagstone Reinsurance Holdings Limited</title><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">Flagstone Reinsurance Holdings Limited</moodys:issuer><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">820346182</moodys:org_id><moodys:price xmlns:moodys="http://www.alacra.com/moodys">550.0000</moodys:price><moodys:report_class xmlns:moodys="http://www.alacra.com/moodys">SpecialReport</moodys:report_class><moodys:format xmlns:moodys="http://www.alacra.com/moodys">pdf</moodys:format><moodys:issuer_list xmlns:moodys="http://www.alacra.com/moodys">Flagstone Reinsurance Holdings Limited</moodys:issuer_list><moodys:docid xmlns:moodys="http://www.alacra.com/moodys">PBC_106803</moodys:docid><category>Credit &amp; Investment Research</category><alacra:ip>Moody's Global Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/ccbn/T1757003</link><guid isPermaLink="false">ccbn/T1757003</guid><ccbn:index_mode xmlns:ccbn="http://www.alacra.com/ccbn">norm</ccbn:index_mode><description>...Good day ladies and gentlemen and welcome to Flagstone Reinsurance Holdings fourth-quarter #### earnings conference call. My name is Grace Anne and I will be your coordinator for today. At this time all participants are a listen-only mode. We will be facilitating a question-and-answer session toward the end of today's conference. As a reminder this call is being recorded for replay purposes. It is now my pleasure to introduce you to your host for today's conference, Brenten Slade, Flagstone's Investor Relations Officer. Brent, please proceed. ...

</description><pubDate>2/19/2008 1:06:00 PM</pubDate><ccbn:name xmlns:ccbn="http://www.alacra.com/ccbn">Flagstone Reinsurance Holdings Ltd.</ccbn:name><ccbn:price xmlns:ccbn="http://www.alacra.com/ccbn">54.0000</ccbn:price><ccbn:revision xmlns:ccbn="http://www.alacra.com/ccbn">Final</ccbn:revision><ccbn:storetitle xmlns:ccbn="http://www.alacra.com/ccbn">Q4 2007 Flagstone Reinsurance Holdings Ltd. Earnings Conference Call Transcript</ccbn:storetitle><ccbn:ticker xmlns:ccbn="http://www.alacra.com/ccbn">FSR</ccbn:ticker><ccbn:time xmlns:ccbn="http://www.alacra.com/ccbn">9:30am ET</ccbn:time><title>Q4 2007 Flagstone Reinsurance Holdings Ltd. Earnings Conference Call Transcript</title><ccbn:type xmlns:ccbn="http://www.alacra.com/ccbn">Transcript</ccbn:type><ccbn:docid xmlns:ccbn="http://www.alacra.com/ccbn">T1757003</ccbn:docid><category>Credit &amp; Investment Research</category><alacra:ip>Thomson StreetEvents</alacra:ip></item></channel></rss>