Odyssey Re Holdings Corp. Names New CFO

Odyssey Re Holdings Corp. reported that Robert Giammarco has been appointed executive vice president and chief financial officer of the company, effective March 31, 2005.

Giammarco joins the company from Banc of America Securities where he served as managing director in the Financial Institutions Investment Banking Group, focusing on the insurance sector. Since joining in 1999, Giammarco was responsible for managing a variety of the firm’s key insurance relationships. Prior to Banc of America Securities, Giammarco was a member of the Insurance Investment Banking Group at Merrill Lynch & Co.

Charles Troiano, who has served as executive vice president and CFO of the company since 2001, has announced his retirement and plans to leave the company following a transition period with Giammarco.

Andrew Barnard, CEO of the company, commented, “We are very excited about adding an individual with the skills, savvy and energy of Rob Giammarco. Rob has worked intimately with OdysseyRe from the time of our IPO in June 2001, our subsequent financing transactions and through the growth of our company. His experience and insight will add significant value to OdysseyRe over the coming years.

“We wish Charlie well in his retirement. Charlie has been instrumental in our success during his dedicated tenure, a three and a half year period during which our Stockholders’ Equity has grown 85% through internally generated sources.”

Odyssey Re Holdings Corp. is a worldwide underwriter of property and casualty treaty, program and facultative reinsurance, as well as specialty insurance.