Montpelier Re Names Harris Chief Underwriting & Risk Officer

March 21, 2006

Bermuda-based Montpelier Re Holdings Ltd. announced that Christopher L. Harris has been appointed Chief Underwriting & Risk Officer of the Company and of Montpelier Reinsurance Ltd. with immediate effect, subject to the approval of the Bermuda Department of Immigration. The appointment follows the decision of former Chief Underwriting Officer C. Russell Fletcher III to retire from the Company.

The announcement notes: “Harris received a Bachelor of Science in Mathematics from the University of North Texas and is a Fellow of the Casualty Actuarial Society, a Chartered Property and Casualty Underwriter, and a Chartered Financial Analyst. He joined Montpelier Re from Allianz Risk Transfer, where he was Chief Actuary North America. Previously, he ran the actuarial consulting practice for KPMG Bermuda, and his experience includes both consulting and operational roles in the insurance and reinsurance fields.”

Chairman and CEO Anthony Taylor commented: “Chris possesses a unique combination of underwriting and actuarial skills that are an ideal match for the changing demands of the CUO role in today’s fast evolving environment. I would like to record the Company’s gratitude to Russ for his great contribution to the founding of Montpelier and his leadership of the underwriting team.”

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