Bassett, Jr. Named Chief Underwriting Officer at Folksamerica Re

May 16, 2005

Folksamerica Reinsurance Co. announced the appointment of H. Clay Bassett, Jr. as the company's chief underwriting officer. He will have responsibility for Folksamerica's underwriting and marketing divisions and is located in the company's New York City headquarters.

"Clay is an important addition to Folksamerica's management team," remarked Edward Stanco, Folksamerica's president and CEO. "Clay brings over 18 years of insurance and reinsurance industry experience to this position, which will serve us well as he guides our efforts to continue our achievement of positive underwriting results."

Folksamerica, a multi-line broker market reinsurer, is a wholly-owned subsidiary of White Mountains Re Group Ltd.