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Russ Fletcher to Join White Mountain's RE Team
HAMILTON, Bermuda: 3 October 2006 -- White Mountains Re Group, Ltd., the Bermuda-based reinsurance unit of White Mountains Insurance Group, Ltd. (NYSE: WTM), announced today that C. Russell Fletcher III will join the organization as President and Chief Executive Officer of White Mountains Re Underwriting Services Ltd., which is the group's Bermuda-based underwriting advisory company, subject to the approval of Bermuda's immigration authorities. Mr. Fletcher comes to White Mountains Re with almost 20 years of underwriting experience in the reinsurance sector, including roles as Chief Underwriting Officer at Montpelier Re (MRH) and Chief Underwriting Officer -- North America at CAT Limited.
Tom Hutton, President and CEO of White Mountains Re, commenting on Russ's appointment said, "We are thrilled to have attracted Russ to the team at White Mountains Re. I have now worked directly with Russ in several situations over a period of some 15 years. I consider Russ to be one of the truly outstanding underwriters in the industry. The greatest competitive advantages in our business stem from our people. The addition of Russ to the team will provide a tremendous boost to our company."
White Mountains Re Group is comprised of Folksamerica Re (US), Sirius International (Sweden), White Mountains Underwriting, Ltd. (Ireland) and White Mountains Re Underwriting Services, Ltd. (Bermuda). In aggregate, the group represents over $2 billion in regulatory capital, and wrote in excess of $2 billion in gross premium in 2006. The Bermuda team, under Mr. Fletcher's leadership, will act as the main center of property catastrophe referrals for White Mountains Re globally.