Watson Joins Flagstone Re Board

September 6, 2007

Bermuda-based Flagstone Reinsurance Holdings Limited announced that Peter F. Watson has joined their Board of Directors. He is Vice Chairman, President and CEO of Attorneys’ Liability Assurance Society (Bermuda) Ltd. (ALAS), a Bermuda-based mutual insurance company which provides reinsurance for professional liability coverage of large U.S. law firms written by its US subsidiary, Attorneys’ Liability Assurance Society, Inc.

Prior to joining ALAS, Watson was a Senior Partner at Price Waterhouse. He has also served on the Board of the Bermuda International Business Association and is a past Chairman of the Insurers Admissions Committee (an advisory group to the Bermuda Government on the insurance industry).

Flagstone’s Chairman, Mark Byrne indicated he was “delighted” that Watson had joined the board, and that the Company would benefit from his “experience in insurance and finance.”

Source: Flagstone Re – www.flagstonere.bm

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