Montpelier Re Holdings Ltd.'s ratings have been unaffected by its recent top level management appointments, according to Standard & Poor's Ratings Services (S&P).

The Bermuda-based re/insurer appointed its president Christopher Harris as chief executive, effective of July 1.

Mr. Harris succeeds Anthony Taylor, who will assume the role of executive chairman until December 2009.

Also, the company has named Michael Paquette as its chief financial officer, effective of May 1.

Mr. Paquette succeeds Kernan Oberting, who is leaving to establish an investment advisory company and will continue to provide Montpelier with corporate finance, asset allocation and investment advisory services until 2010.

S&P has a 'BBB' rating with a negative outlook on the company.