Montpelier Re Names Harris CEO

Hamilton, Bermuda-based Montpelier Re Holdings Ltd. said it has tapped its president, Christopher L. Harris, 48, to be its new chief executive officer effective July 1.

Mr. Harris joined the company in 2002, shortly after its formation, as chief actuary and was later named chief underwriting and risk officer in 2006. He became president this January. He has 18 years of industry experience in a variety of underwriting, actuarial and risk management positions.

Mr. Harris succeeds Anthony Taylor, 62, who will assume the role of executive chairman until the end of 2009.

In a statement Mr. Taylor said, “Chris has demonstrated that he is a truly talented insurance leader who has not only a full understanding of underwriting strategy and portfolio and risk management but also an astute strategic mind.”

He said Mr. Harris was “a key player in leading us through an admittedly tough period following the hurricanes of 2005 and has positioned the company well to take advantage of opportunities ahead. He was the obvious choice to lead Montpelier going forward.”

William Pollett, senior vice president and treasurer, said the appointment of Mr. Harris is part of an orderly transition plan announced late last year. Under the plan, Mr. Taylor, who remains a full-time employee, is giving up the titles of president and CEO, but remains chairman.

Mr. Harris has entered into a new employment contract effective July 1, where he remains president and CEO for three years. It may be extended thereafter by mutual agreement, the company said.

Montpelier Re announced a number of other promotions, also effective July 1.

David Sinnott, 46, will become chief underwriting officer and Timothy Aman, 41, will become chief risk officer.

Mr. Sinnott joined Montpelier's Bermuda office in 2002 and has been the company's chief reinsurance officer since 2005. He has 25 years of reinsurance underwriting, risk management and capital markets experience. Prior to joining Montpelier, Mr. Sinnott worked for PartnerRe, Tempest Reinsurance, General Re and Morgan Stanley.

In August last year Mr. Aman joined Montpelier as a senior vice president and risk management officer. As chief risk officer he will assume responsibility for all risk management activities across the Montpelier Group.

Mr. Aman has 19 years of actuarial, catastrophe modeling, risk management, reinsurance broking and underwriting experience. His background includes 11 years at Guy Carpenter, most recently as managing director for the Latin America and Caribbean region.

It was announced that Paul Larrett will assume the role of chief treaty underwriter of Montpelier Reinsurance Ltd., the company's Bermuda-based underwriting subsidiary, effective July 1.

Mr. Larrett joined Montpelier's Bermuda operations in 2003 and was responsible for underwriting the company's specialty treaty account. He has 17 years of industry experience, including previous employment at Danish Re, Copenhagen Re and Wellington Syndicates Ltd.