RAM Holdings Ltd. and RAM Reinsurance Company Ltd. have announced the appointment of Clement Dwyer as director to serve until next year's annual general meeting, at which directors will be elected by shareholders.

Mr. Dwyer is president of URSA Advisors Inc. of Bridgewater, New Jersey, a provider of insurance, reinsurance and capital raising advisory services.

Previously he served as president of Signet Star Holdings Inc., a reinsurance subsidiary of WR Berkeley Corp in 1996. From 1970 until 1996 he held various positions at Guy Carpenter & Company, including most recently executive vice-president and director.

Mr. Dwyer is also a director of Montpelier Reinsurance Holdings Ltd., chairman and director of Old American County Mutual Insurance Co. of Dallas, Texas, and Dowling & Partners of Farmington, Connecticut.

Steven Tynan, chairman of RAM's board, said: "We are very pleased to have Clem join our boards. His extensive insurance and financial services experience will enhance the boards' capabilities in these areas as we move forward."