ALEA Alea

RNS Number:9213D
Alea Group Holdings(Bermuda) Ltd
11 October 2004






                   Alea Group Estimates Impact Of Hurricanes

BERMUDA (11 October, 2004) - Alea Group Holdings (Bermuda) Ltd., the specialty
insurer and reinsurer, today announces the estimated impact on earnings of
recent hurricane activity in the United States and the Caribbean. Hurricanes
Charley, Frances, Ivan and Jeanne have resulted in one of the most active storm
seasons in the region ever recorded.

The ultimate cost of these four hurricanes is estimated at approximately $55
million (#30.9 million) on a pre-tax basis. The estimate includes the net
pre-tax cost previously announced for Hurricane Charley of less than $10
million.

The loss estimate was calculated following a thorough review of our portfolio,
and discussions with clients and brokers. The impact of recent typhoons to
strike the Pacific region is not expected to be significant.

Mark Ricciardelli, Group Chief Executive Officer, said: "The 2004 hurricane
season has been one of the most active on record. Hurricanes Charley, Frances,
Ivan and Jeanne have cumulatively created one of the costliest seasons recorded
for our industry. As a consequence, we believe these storms will have a positive
impact on rates in 2005 and 2006."

ABOUT ALEA GROUP

Alea is a global specialty insurance and reinsurance company with expertise in a
wide range of property and casualty reinsurance, insurance, programme and finite
risk products and services. Alea maintains a significant presence in major
insurance and reinsurance markets worldwide. Alea is headquartered in Hamilton,
Bermuda and has ongoing operations in the United Kingdom, the United States,
Bermuda, Switzerland, Australia and Jersey. The Company's largest shareholder is
an affiliate of Kohlberg Kravis Roberts & Co. Alea is publicly traded on the
London Stock Exchange under the ticker "ALEA". For more information on Alea
Group, see www.aleagroup.com.

For further information please contact:

Media: 
Keith Anderson  +1 860 258 6550

Analysts & Investors: 
Peter Brown  +44 20 7621 3383

Financial Dynamics
Robert Bailhache  +44 20 7269 7200

Certain statements made in this press release that are not based on current or
historical facts are forward-looking in nature including, without limitation,
statements containing words "believes," "anticipates," "plans," "projects,"
"intends," "expects," "estimates," "predicts," and words of similar import. All
statements other than statements of historical facts including, without
limitation, those regarding Alea Group Holdings (Bermuda) Ltd's financial
position, business strategy, plans and objectives of management for future
operations (including development plans and objectives relating to Alea Group
Holdings (Bermuda) Ltd's products and services) are forward-looking statements.
Such forward-looking statements involve known and unknown risks, uncertainties
and other important factors that could cause the actual results, performance or
achievements of Alea Group Holdings (Bermuda) Ltd to be materially different
from future results, performance or achievements expressed or implied by such
forward-looking statements. In particular, forecasting of reserves for future
losses is based on historical experience and future assumptions. As a result
they are inherently subjective and may fluctuate based on actual future
experience and changes to current or future trends in the legal, social or
economic environment. Such forward-looking statements are based on numerous
assumptions regarding Alea Group Holdings (Bermuda) Ltd's present and future
business strategies and the environment in which Alea Group Holdings (Bermuda)
Ltd will operate in the future. These forward-looking statements speak only as
at the date of the document or other information concerned. Alea Group Holdings
(Bermuda) Ltd expressly disclaims any obligations or undertaking (other than
reporting obligations imposed on us in relation to our listing on the London
Stock Exchange) to disseminate any updates or revisions to any forward-looking
statements contained herein to reflect any changes in Alea Group Holdings
(Bermuda) Ltd 's expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is based.




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

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