Bermuda-based RAM Holdings Ltd. has announced a number of changes to the board of directors of its wholly-owned subsidiary RAM Reinsurance Company Ltd.

Lloyd Porter, a director, has tendered his resignation with effect from January 4, 2010 and Conrad Voldstad, another director, has also resigned as of December 17, 2009.

Vernon Endo and Joseph Donovan have been appointed directors of the company to serve until the next Annual General Meeting or until their successors are elected or appointed, it was announced ton the Bermuda Stock Exchange on Friday.