Bermuda-based Montpelier Re Holdings Ltd. announced that Deputy Chairman, Executive Vice President and Chief Operating Officer Tom Busher will retire from the company on December 31, 2013, after 12 years of service.
Busher was a member of the original management team that founded Montpelier in late 2001, and has been COO since its inception. He was elected to the Montpelier board of directors in May 2007 and appointed deputy chairman in May 2008.
During his time with the company he was associated with Montpelier’s initial public offering (IPO) on the New York Stock Exchange in October 2002, the founding of Syndicate 5151 at Lloyd’s in 2007, and the recent IPO of Blue Capital Global Reinsurance Fund Limited on the London and Bermuda Stock Exchanges in December 2012.
The company said Busher will retire by rotation from the company’s board of directors at the forthcoming annual general meeting May 17, but he will continue to serve as COO until the end of the year. Thereafter, he will continue to serve as chairman of Montpelier Underwriting Agencies Limited, a role he has held since MUAL was first authorized to act as Lloyd’s managing agent of Syndicate 5151 in January 2009.
Source: Montpelier Re