Performance Incentive Plan

RNS Number:6098I
Benfield Group Limited
07 September 2006

           Executive Participation in 2003 Performance Incentive Plan

In accordance with Disclosure Rule 3.1.4R(1)(a), Benfield Group Limited ("
Benfield"), the world's leading independent reinsurance and risk intermediary,
today announces that three Executive Directors have been granted awards under
the Benfield Group Limited 2003 Performance Incentive Plan in respect of
Benfield's Ordinary Shares of 1p each ("Shares"). These transactions were
notified to Benfield today.

The awards made were as follows:

Director      Date of Grant    Date of Vesting    Type of       Number of     Exercise   Total number of
                                      (1)          Award         Shares       Price per    Shares over
                                                               comprised in      Share      which Awards
                                                               the Award                 held following
                                                                                            notification

Grahame       20 April 2006(2) 50% on 20 April   Options         662,252         1p          738,499
Chilton                        2009

                               50%  on 20 April
                               2011

John Whiter   20 April 20062   50%  on 20 April  Options         198,675         1p          448,675
                               2009

                               50%  on 20 April
                               2011

Paul Karon    7 September 2006 158,000 on 7      Deferred        475,000         N/A         475,000
                               April 2007        Stock Units

                               158,000 on 7
                               September 2008

                               159,000 on 7
                               September 2009

Contacts:

Analysts & Investors
Julianne Jessup                     Benfield             [phone]
Rob Bailhache                       Financial Dynamics   [phone]

Media
David Bogg                          Benfield             [phone]
Peter Rigby/David Haggie            Haggie Financial     [phone]


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.  Benfield is listed on the
London Stock Exchange under the ticker symbol BFD. www.benfieldgroup.com.

--------------------------

(1) Awards will vest to the extent that applicable performance criteria are met.

(2) Awards granted on this date subject to the relevant Directors entering into
    new service agreements. This conditionality has now been satisfied.


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