Montpelier Re Appoints Peter Woolf VP, Underwriting Review Manager

May 30, 2003

Bermuda-based Montpelier Re Holdings Ltd. announced the appointment of Peter Woolf as Senior Vice President and Underwriting Review Manager, a new position within the company.

Woolf will be responsible for overseeing the controls and procedures governing the Company’s global underwriting activities, ensuring compliance with international standards and regulation, prompt and accurate claims processing, and adherence to underwriting strategy and guidelines, reporting to the President and CEO.

Prior to joining Montpelier Re, he was Senior VP and Property Underwriter with LaSalle Re from 1998 to 2003. He also served as VP and U.S. Property Underwriter with Partner Re from 1993 to 1998. Woolf holds a B.A. in Economics from the University of Kent and is active in the insurance and reinsurance industry in Bermuda.

Company President and CEO Anthony Taylor, stated: “I am delighted that Peter has joined us as Underwriting Review Manager. He brings to Montpelier over 25 years experience in the industry and will be instrumental in strengthening our reputation as a premier specialty property reinsurer and creating new opportunities for improvement and growth.”

Commenting on his new position, Woolf said: “I look forward to helping Montpelier Re build upon their strong underwriting foundation and find new ways to deliver superior value to their clients. As a Bermudian, I am also proud to join a young company that is already enhancing the Island’s reputation as a premier global insurance and reinsurance center.”

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