is to retire as chief financial officer and executive vice president of Montpelier Re Holdings Ltd. at the end of the month.

Mr. Kemp, who has worked for Montpelier since its inception in 2002, will remain on the board of the company as a class A director until the expiry of his current term of office.

Mr. Kemp will also remain vice president of the company, and will consult on special projects.

Montpelier said Kernan (Kip) Oberting will replace Mr. Kemp as chief financial officer and an executive vice president of the company and of subsidiary Montpelier Reinsurance Ltd. with effect from October 1.

Montpelier Re also announced the promotion of to the new post of chief US treaty underwriter and senior vice president, and the appointments of as chief retro underwriter and senior vice president, as terrorism underwriter and vice president, and as international treaty underwriter and vice president.

Anthony Taylor, chairman, president and chief executive officer said: ?The company is deeply indebted to Tom Kemp for steering us so ably through our formation and IPO.

?I am delighted that he is remaining on the board and that we will continue to benefit from his wise counsel.

?Kip is immensely talented, has a thorough knowledge of both our industry and capital markets and will be a wonderful addition to the close team we have here at Montpelier Re.?