Montpelier Reinsurance Receives ‘A-‘ Rating from Standard & Poor’s

July 30, 2003

Montpelier Re Holdings Ltd announced that its subsidiary, Montpelier Reinsurance Ltd., has received an ‘A-‘ (Strong) Financial Strength Rating from Standard & Poor’s Ratings Services.

According to S&P, “Montpelier’s rating reflects its market position and scale within the Bermuda reinsurance market, its very strong operating performance, and very strong capitalization. In addition, Montpelier maintains a very conservative investment portfolio and this leads to strong liquidity. Financial flexibility is also strong – highlighted by Montpelier’s ability to successfully launch its IPO in very difficult economic times in October 2002”.

Anthony Taylor, president and CEO of Montpelier Re, commented, “Our new Standard and Poor’s rating is indicative of our strong capitalization and track record of disciplined underwriting performance. We are proud that our commitment to client service and the quality of our business strategy have been recognized.”

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