1 Mark Watson

Argo Group

$15,036,696

Mr. Watson, one of the youngest international business CEOs in Bermuda at the age of 44, was paid a salary of $945,219 in 2007 and walked away with a $1.4 million bonus. During the course of 2007 he also received $3.7 million worth of other compensation, $7.89 million worth of restricted stock awards and $1 million in stock option awards

2 Evan Greenber

Ace

$13,978,323

The chief executive officer of AceLtd., who once hitchhiked around the US, picking up odd jobs as a short-order cook and bartender, received the highest bonus in 2007 compared to the others on the list. While his salary was $1.2 million his bonus was $4.2 million. He also received $1.25 million worth of other compensation and $4.65 million in restricted stock awards as well as $2.67 million in stock options. Acesaw a two percent rise in its share price in 2007

3 John Charman

Axis

$12,539,102

The Axis Capital CEO, who is estimated to be worth $260 million, earned the highest salary on the list, $1.25 million. Mr. Charman, who made headlines for his unsuccessful attempt to block his ex-wife from walking away with 36 percent of his assets, also topped the list when it came to his other compensation, which was valued at $3.75 million. He also received $5.2 million in restricted stock awards and $118,898 in stock options. Axis saw its stock price jump nearly 17 percent in 2007.

>4 Joseph Taranto

Everest

$10,221,950

Mr. Taranto has been the chairman and chief executive officer of Everest Reinsurance Holdings for 14 years. In 2007 his salary was $1 million, the same as it was in 2006, and he received no bonus but other compensations which totalled $3.2 million. The company's stock price increased by 2.3 percent in 2007. Mr. Taranto also received restricted stock awards valued at $5.4 million and $0.5 million in stock options.

5 Constantine Iordanou

Arch

$9,231,187

The president and CEO of Arch Capital, who BusinessWeek described as a "a strong-willed American known for his hands-on style", received a $1 million salary. Mr. Iordanou walked away with the second highest bonus on the list, $3.5 million, for 2007 when his company saw its stock price rise 4 percent. He also received other compensation valued at nearly half a million dollars and stock options of $1 million as well as restricted stock awards valued at $3.2 million.

6 Brian O'Hara

XL Capital

$7,832,885

XL Capital Ltd.'s compensation package for its chief executive, Brian O'Hara was $7.8 million in 2007, a 24 percent raise versus 2006, to cap a year during which the insurer's stock slipped 30 percent. The Bermuda-based insurer paid Mr. O'Hara, who has since retired and is now the chairman, a $1 million salary and a $1.5 million bonus, plus a $2 million incentive bonus. XL granted Mr. O'Hara $2.3 million in stock and $684,471 in "other" compensation, which included retirement plan contributions, tax reimbursements, and housing and travel allowances.

7 Patrick Thiele

PartnerRe

$7,441,577

Just missing the million dollar salary mark is PartnerRe's president and CEO, whose salary was reported to be $991,500. Meanwhile his bonus was $204,000 but his other compensation, at $3.2 million, more than doubled the two payouts. He received $2.58 million in restricted stock awards and $406,312 in stock options.

8 Neill Currie

RenaissanceRe

$6,728,071

The chief executive of RenaissanceRe Holdings oversaw the company's share price rise of 0.4 percent during 2007 when he earned a salary of $772,500. His bonus was $1.5 million and his "other compensation" totalled $1.1 million. He received $1.6 million in restricted stock awards and $1.6 million in stock options.

9 William Riker

RenaissanceRe

$6,501,999

Mr. Riker, who recently retired as president and chief underwriting officer, or RenaissanceRe earned a salary of $618,000 and a bonus of $937,500. The value of the restricted stock awards he received was $3.5 million while the stock options were valued at $0.5 million. In April Mr. Riker received a Special Award at the 2008 National Hurricane Conference for his outstanding contribution to the advancement of hurricane research and modelling. Meanwhile the company saw its share price edge up 0.4 percent in 2007.

10 Michael Butt

Axis

$6,185,524

Mr.Butt, who has been chairman of the AxisCapital Holdings board since 2002, received a $1.2 million bonus in 2007 when the company saw its share price climb more than 16 percent. His salary was $850,000. Meanwhile the stock awards he was granted were valued at$2 million and the stock options he received were $50,000.

11 Scott Carmilani

Allied World

$5,580,307

Mr. Carmilani, who has been with Allied World Assurance since its inception, and became president and CEO of the company in January 2004, earned a salary of $900,000 last year but did not receive a bonus. He did received $2.8 million worth of restricted stock awards and $78,965 in stock options. His other compensation was valued at nearly $1.8 million. The company saw its share price rise 14 percent in 2007.

12 Michael Price

Platinum

$5,5778,273

The Platinum Underwriters Holdings Ltd. president and CEO, also took no bonus in 2007 but walked away with "other compensation" valued at $3.1 million. His salary, during a year when the company saw its share price rise nearly 15 percent, was $750,000. He received $1.7 million in restricted stock awards and no other stock options throughout the year.

13 James Bryce

IPC

$5,138,232

The IPCHoldings' president and CEO earned $827,753 in 2007 and a $823,780 bonus in 2007. The company saw its stock price drop 8.6 percent. Mr. Bryce, who has approximately 30 years' experience in underwriting management with companies in New York, Tokyo, Hong Kong, London and Bermuda, received $1.8 million in stock awards and $386,800 in stock options. His other compensation totalled $1.28 million.

14 Kenneth LeStrange

Endurance

$5,021,221

Mr. LeStrange, president and CEO of Endurance Specialty Insurance Ltd., earned a million dollar salary and no bonus in 2007. Endurance, which started up in the wake of 9/11, saw its share price rise 14 percent over the year. The father of two's other compensation was valued at $2.7 million and he received $1.2 million in stock awards but no stock options.

15 James Veghte

XL Capital

$4,892,656

Mr. Veghte has been chief executive of reinsurance general operations of XL Capital Ltd. since January 2006.*t(0,0," ")His salary for 2007 was $500,000 and bonus was $1 million despite XL's share price dropping 30 percent during the year. The Wharton School of Business graduate also received other compensation valued at $722,354. During the year Mr. Veghte received $2.2 million in stock awards and stock options valued at $375,904.

16 KBruno Meyenhofer

PartnerRe

$4,786,923

Mr. Meyenhofer currently CEO, PartnerRe Global, will be appointed to the newly created position of chairman of PartnerRe Global. In 2007 he earned a salary of $680,212. He did not receive a bonus but was given $1.4 million worth of other compensation, $1.2 million in stock awards and $1.4 in stock options in 2007. The company saw its share price rise 16 percent.

17 KAnthony Taylor

Montpelier Re

$4,685,604

Mr. Taylor will step down as chief executive of Montpelier Re on June 30 this year to take up a newly-created role of executive chairman of the board. In his previous role he earned a $900,025 salary and a $450,103 bonus in 2007 when the company's share price fell 8.6 percent. The company has said his new position will see his salary fall to $650,000, although he will still be entitled to participate in the company's annual bonus plan with a target bonus equal to 100 percent of base salary. His 2007 other compensation was $1.5 million and he received $1.8 million in stock awards.

18 William Fischer

Axis

$4,554,031

Mr. Fischer has been CEOand president of Axis Re Bermuda since its inception in 2001. He earned a $750,000 salary last year and a bonus of $775,000. His other compensation was valued at $1.58 million. In 2007 when the company saw its share price rise nearly 17 percent he received $1.4 million in stock awards and less than $40,000 in stock options.

19 KJohn Gressier

Axis

$4,526,496

Mr. Gressier was appointed chairman of Axis Insurance in January 2007. His salary was $800,000 last year while his bonus was $725,000. The other compensation Mr. Gressier received was worth $1.5 million. The company saw its stock price rise nearly 17 percent during 2007 when Mr. Gressier received stock awards valued at $1.4 million and less than $40,000 in stock options.

20 Brian Dowd

Ace

$4,342,954

Mr. Dowd, Ace Ltd.'s chief executive officer for Insurance-North America, received a $700,000 salary and $1.2 million bonus during 2007 when the company saw its share price rise two percent.

He also received $1.2 million in stock awards and $812,501 in stock options. Meanwhile his other compensation was the smallest out of the top 20, at $312,017.