Apart from being chairman of insurance start-up Montpelier Re, Jack Byrne is an insurance legend with 57 years in the insurance industry - 40 of those spent in the Bermuda insurance market. Last year he was named "Insurance Leader of the Year".

Well known for his sense of humour, Mr. Byrne said as he got the award: "They are all here to applaud me. This award is long overdue, it is almost too late. They should have done it long ago. I certainly should have been given the award long before (AIG boss) Hank Greenberg."

More than half a century after starting out in his father's Wildwood, New Jersey, insurance business at 14, Mr. Byrne has said he is looking forward to scaling back on his professional life, but is still a regular visitor to Bermuda and is often seen wheeling and dealing around town.

Mr. Byrne was appointed chairman of the board of White Mountains in 1985 and his term expires in 2005. He currently serves not only as a director of OneBeacon Insurance Group but also Folksamerica Holding Company and Overstock.com and was formerly CEO of White Mountains from February, 2002 to December, 2002.

He was also chairman of the board of managers of OneBeacon Insurance Group from June, 2001 to December, 2001 and CEO of White Mountains from January, 2000 to June, 2001.

He then became president and CEO of White Mountains from 1990 to 1997 and CEO from 1985 to 1990 and was chairman of Financial Security Assurance Holdings, Ltd. and chairman and CEO of Geico Corporation and Fireman's Fund Corporation.