Bermuda-based RAM Holdings Ltd. has announced the appointment of Deloitte & Touche Ltd. as its new auditor following the resignation of its previous auditor, PricewaterhouseCoopers (PwC).

The board of directors noted that the change of auditor was not due to any disagreements with PricewaterhouseCoopers (PwC) on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure regarding the company or its subsidiary, RAM Reinsurance Company Ltd.

In addition, the company reports that it has sought and received an extension until November 15, 2010 to file its interim financial reports for the period ending June 30, 2010 with the Bermuda Stock Exchange. The extension was sought on the basis that one of RAM Re's ceding primary insurers ceased providing US GAAP financial reporting in the second quarter of this year and additional time is required to undertake sufficient analysis and calculations in order to satisfy the company's reporting requirements.