Bermuda-based reinsurer Montpelier Re Holdings Ltd. yesterday announced the formation of Montpelier Europa AG, a company based in Zug, Switzerland.

The Europa branch, which will provide marketing services to Syndicate 5151 at Lloyd's and support its parent company's regional marketing, focusing on Europe and the Middle East, is expected to start business on September 1 with Munich-based GE Frankona Re's head of sales and marketing Gerald Koenig being appointed CEO.

Mr. Koenig said: "We believe that continuing consolidation in the European reinsurance market has created an opportunity for Syndicate 5151 to attract selected business that has not previously found its way to Lloyd's."