BFD Benfield Group

RNS Number:9693M
Benfield Group Limited
30 November 2006



30 November 2006


                Sale of Warrants in Lancashire Holdings Limited


Benfield Group Ltd ("Benfield"), the world's leading independent reinsurance and
risk intermediary, today announces that it has sold its holding of warrants to
subscribe for 7,625,217 common shares in Lancashire Holdings Limited
("Lancashire"), the Bermudian insurance company.  Benfield received the warrants
as part consideration for its role in the establishment of Lancashire in
December 2005.  The warrants have been sold to J.P. Morgan Securities Limited.


Benfield will receive gross proceeds of US$19.5 million from the sale. The
warrants were accounted for as a financial instrument in the year ending 31
December 2005. This transaction will not be material to the results for the year
ending 31 December 2006.


Grahame Chilton, Chief Executive of Benfield, commented; "Lancashire has almost
completed its first full year of operations and we are delighted to have been
associated with establishing such a successful Bermudian insurer. In line with
our policy of retaining a focus on our core intermediary business, we have now
taken this opportunity to sell our holding."



                                     -ENDS-

Contacts:


Analysts & Investors

Julianne Jessup              Benfield                +44 (0) 20 7578 7425
Rob Bailhache                Financial Dynamics      +44 (0) 20 7269 7200


Media

David Bogg                   Benfield                +44 (0) 20 7522 4016
Peter Rigby/David Haggie     Haggie Financial        +44 (0) 20 7417 8989


Notes to Editors:


About Benfield:

Benfield is the world's leading independent reinsurance and risk intermediary.
Its customers include many of the world's major insurance and reinsurance
companies as well as government entities and global corporations.   Benfield
operates from more than 40 locations worldwide. The company is listed on the
London Stock Exchange under the ticker symbol BFD.  www.benfieldgroup.com



                      This information is provided by RNS
            The company news service from the London Stock Exchange

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