Flagstone Reinsurance Holdings, S.A. (Flagstone) is a holding company. Flagstone is a global reinsurance company with operations that provide reinsurance primarily through its property and property catastrophe business, as well as high-margin short-tail specialty and casualty reinsurance lines of business. Flagstone�s business includes providing property catastrophe reinsurance coverage to a range of select insurance companies. These policies provide coverage for claims arising from natural catastrophes, such as hurricanes and earthquakes, in excess of a specified loss. It also provides coverage for claims arising from other natural and man-made catastrophes such as winter storms, freezes, floods, fires and tornados. On April 5, 2012, it sold the business consisting of its former Island Heritage segment. In August 2012, the Company completed thesale of its Lloyd�s segment to a wholly owned subsidiary of ANV Holdings BV (ANV).