Christopher T. Schaper Named President of Montpelier Re Ltd.

Hamilton, Bermuda – 08 September, 2011 – Montpelier Re Holdings Ltd. (the “Company” or “Montpelier”; Ticker: MRH.BH) announced that Christopher T. Schaper has been appointed President of Montpelier Reinsurance Ltd. His appointment will be effective November 25, 2011 subject to approval from the Bermuda Department of Immigration.

Mr. Schaper will be responsible for the underwriting strategy, profitability and growth of the Bermuda based businesses, including reinsurance and insurance accountability. He will report to Montpelier’s President and Chief Executive Officer, Christopher L. Harris.

Mr. Schaper has 25 years of experience within the insurance and reinsurance industry, most recently with Endurance Specialty Holdings Ltd., where he was Head of Reinsurance and Chief Underwriting Officer for Endurance Bermuda. Mr. Schaper holds a MS degree in International Business and a MBA from Johns Hopkins University, a Bachelor’s Degree in Accounting and is a Chartered Property Casualty Underwriter (CPCU).

“We are delighted to welcome Chris as a key member of our management team, and I look forward to drawing on his experience as we work to grow our Bermuda operations,” said Mr. Harris.

The Company, through its operating subsidiaries, is a premier provider of global property and casualty reinsurance and insurance products. Additional information can be found in the Company’s public filings with the Securities and Exchange Commission.

Source: Montpelier Re Holdings Ltd.

Contacts:

Montpelier Re Holdings Ltd.

Investors:

William Pollett, 441-299-7576

SVP, Chief Corporate Development and Strategy Officer and Treasurer

or

Media:

Jeannine Menzies, 441-299-7570

Corporate Affairs Manager