BFD Benfield Group

RNS Number:0331F
Benfield Group Limited
09 November 2004

9 November 2004

                            BENFIELD GROUP LIMITED

                   SALE OF BENFIELD PREMIUM FINANCE LIMITED


Benfield Group Limited ("Benfield") today announces a joint venture with Singer
& Friedlander Group plc ("S&F").  Under the terms of the joint venture, S&F's
wholly-owned subsidiary, Singer & Friedlander Insurance Finance Limited (SFIF)
has agreed to acquire from Benfield the whole of its shareholding interest in
Benfield Premium Finance Limited (BPF).  No cash consideration will pass and
SFIF will hold 75% of the joint venture and Benfield will hold 25%.

The combined financial strength and product range of both companies will offer
significant benefits in terms of quality and flexibility of service to
customers, and reinforces the market position of SFIF.

Grahame Chilton, Chief Executive of Benfield commented, "Our decision to sell
BPF is in line with our policy of focusing activities on core reinsurance
operations.  We believe BPF is in a strong position to start the next chapter in
its development and we are pleased that this joint venture will allow us to
participate in its future success."

As at 30 June 2004 BPF had net assets of #500,000.


For further information, please contact:

Investors & Analysts
Julianne Jessup             Benfield                         +44 (0)20 7578 7425
Robert Bailhache            Financial Dynamics               +44 (0)20 7269 7200

Media
Alison Burgess              Benfield                         +44 (0)20 7578 7047
Peter Rigby                 Haggie Financial                 +44 (0)20 7417 8989


Benfield is the world's leading independent reinsurance intermediary and risk
advisory business.  Its customers include most of the world's major insurance
and reinsurance companies as well as Government entities and global
corporations.  Benfield employs over 1,600 people based in more than 30
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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