Montpelier Re Holdings Ltd. yesterday announced that Christopher Harris is to replace Anthony Taylor as the company's chief executive officer, effective July 1 this year.

Mr. Harris, who has some 18 years of industry experience, has been with the company since 2002, and has served as chief actuary, chief underwriting officer and became president at the start of this year.

Mr. Taylor will stay on as executive chairman until December 2009, as was previously announced.

Mr. Taylor said: "Chris has demonstrated that he is a truly talented insurance leader who has not only a full understanding of underwriting strategy and portfolio and risk management but also an astute strategic mind.

"Chris was a key player in leading us through an admittedly tough period following the hurricanes of 2005 and has positioned the company well to take advantage of opportunities ahead. He was the obvious choice to lead Montpelier going forward."

Mr. Harris has agreed to a new employment deal, which secures him as president and CEO for three years, with options to extend in the future by mutual agreement.

Pursuant to its succession plan the Company announced a number of other promotions, also effective July 1, 2008, including the appointments of David Sinnott as chief underwriting officer and Timothy Aman as chief risk officer.

Mr. Sinnott joined Montpelier's Bermuda office in 2002 and has been the company's chief reinsurance officer since May 2005. He has 25 years of reinsurance underwriting, risk management and capital markets experience.

Before joining Montpelier, Mr. Sinnott worked for PartnerRe, Tempest Reinsurance, General Re and Morgan Stanley.

Mr. Aman joined Montpelier in August 2007 as a senior vice-president and risk management officer. As chief risk officer he will assume responsibility for all risk management activities across the Montpelier Group. He has 19 years of actuarial, cat modelling, risk management, reinsurance broking and underwriting experience.

Before joining Montpelier, Mr. Aman spent 11 years at Guy Carpenter, most recently as managing director for the Latin America and Caribbean region.

The company also announced that Paul Larrett will assume the role of chief treaty underwriter of Montpelier Reinsurance Ltd., the company's Bermuda-based underwriting subsidiary, effective July 1, 2008. Mr. Larrett joined Montpelier's Bermuda operations in October 2003 and was responsible for underwriting the company's specialty treaty account.

He has 17 years of industry experience including previous employment at Danish Re, Copenhagen Re and Wellington Syndicates Ltd.

Commenting on the appointments of Messrs. Sinnott, Aman and Larrett, Mr. Harris said: "These appointments highlight the depth of our management team and provide the Company with solid underwriting and risk management leadership as we look to further build on our successes."