RNS Number:1234T
Benfield Group Limited
11 December 2003

11 December 2003

                             Benfield Group Limited
              Trading update for the year ending 31 December 2003


Benfield Group Limited, the world's leading independent reinsurance
intermediary, today issues an update on trading prior to the end of its
financial year.

Reported revenues for the Group in 2003, on a constant currency basis, are
expected to achieve the rate of growth anticipated at the time of the recent
Initial Public Offering.  Similarly, the Group is set to achieve the improved
level of trading margin anticipated at that time.  Cash flows remain strong.

The US division has continued to perform well with further growth from property
and casualty placements.  Although the weakness of the US dollar will affect the
reported results, on a constant currency basis the US operation will have
registered strong performance and grown its market share.

The results of the International division, which will also be impacted by the
weakness of the US dollar, continue to demonstrate steady progress.  The
targeted growth areas have performed well, particularly in Central and Eastern
Europe.

Market conditions in casualty classes remain strong although there is some
pressure on rates in property classes.  Overall, the outlook for 2004 shows good
opportunities for further growth in revenue and margin and further improvement
in market position.


For further information, please contact:

David Bogg (media)                                    + 44 (0) 20 7522 4016
Julianne Jessup (investors)                           + 44 (0) 20 7578 7425
Benfield

David Haggie/Peter Rigby (media)                      + 44 (0) 20 7417 8989
Haggie Financial


About Benfield:

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.  From advising on risk management to accessing contingent capital,
Benfield's business philosophy is founded on working in partnership with its
customers to enhance their success.  Benfield employs over 1,700 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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