The Diana was originally a ship's lifeboat which, according to popular belief, was given to the captain when he retired. She was then owned by Harold Benest, the Lloyd’s agent.

In October 1925 she was used as a work platform during the salvaging of the SS Atala and in 1936 she took part in the recovery of The Cloud of Iona a seaplane which crashed near the Minquiers. In June 1940, skippered by Alfred Grenelle, she was one of the fleet of small boats help with the evacuation of Allied troops from St Malo. In the post war years she served as a guard boat during Gorey Regatta.

In 1994 Jack Le Gresley bought her from the estate of Mr Le Clerq and she was restored in 1994. In April 1999 the Diana was given to the Jersey Heritage Trust by Jack Le Gresley's widow, Helen.