This excerpt taken from the MRH 8-K filed Oct 23, 2008.
Montpelier Announces Formation of Lloyds Managing Agent
HAMILTON, Bermuda(BUSINESS WIRE)
Montpelier Re Holdings Ltd. (NYSE: MRH) announced today that it has received approval from the Financial Services Authority and Lloyds to establish a wholly-owned Lloyds Managing Agent subsidiary, Montpelier Underwriting Agencies Limited (MUA), which will assume the management of Montpelier Syndicate 5151 for the 2009 Underwriting Year of Account with effect from 1st January 2009.
Syndicate 5151, which underwrites a book of non-marine property and engineering classes and a limited amount of specialty casualty business sourced from the London, U.S. and European markets, began trading on 1st July 2007, under the management of Spectrum Syndicate Management Limited.
Giuseppe Perdoni has been appointed Managing Director of MUA, and Peter Rand has been appointed Director of Underwriting. John Goldsmith and Terry ONeill have been appointed independent Non-Executive Directors.
Richard Chattock, active underwriter of Syndicate 5151 since its inception, also joins the board, along with Mike Paquette, Chief Financial Officer of Montpelier, who has been appointed Finance Director.. Chris Harris, President and Chief Executive Officer of Montpelier, and Nicholas Newman-Young, former Managing Director of Montpelier Marketing Services (UK) Limited, become Non-Executive Directors while Tom Busher, Deputy Chairman of Montpelier and Head of European Operations, assumes the role of Chairman.
Montpelier Chairman, Anthony Taylor, said: The establishment of our own Lloyds Managing Agency begins a new chapter in the development of our international platform.
Montpelier Re Holdings Ltd., through its operating subsidiaries in Bermuda and the U.S. and in its Lloyds syndicate in the UK is a premier provider of global property and casualty reinsurance and insurance products. Additional information can be found in Montpeliers public filings with the Securities and Exchange Commission.
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