Bermuda-based White Mountains Group Ltd. announced yesterday that Allan Waters has been elected chief executive officer of its reinsurance group, White Mountains Re Group, Ltd. He succeeds Tom Hutton, who remains deputy chairman of the White Mountains Re board and will serve as a senior advisor to Mr. Waters.

Ray Barrette, chairman and CEO of the Group, said: “I am delighted to have Allan rejoin the management team. Allan knows our Company and our businesses well. White Mountains Re will benefit greatly from his experience, judgement, and management talent.”

Mr. Waters was elected to the White Mountains Board in November 2005 and previously served on the Board from 2003 to 2004. He remains a director. Mr. Waters also held various management positions with the company from its IPO in 1985 until his retirement as chief financial officer in 1998.