Bermuda-registered CRM Holdings, a provider of products and services for the workers' compensation insurance industry, has announced the resignation of Edmund Pascoe from the board of directors for personal reasons.

Mr. Pascoe has been in the insurance industry for 30 years and was CEO of Wexford Underwriting Managers Inc., which he founded in 1985, before he was appointed to CRM's board in August 2007.

Wexford eventually became one of the largest underwriters of excess workers' compensation reinsurance for Fortune 500 and multi-national corporations in the US.

Mr. Pascoe said: "I offer my sincere thanks to the board of directors for the privilege and opportunity to have served on the CRM board."

Daniel Hickey, CRM's chairman and CEO, said: "Ed's experience with some of the most respected companies in our industry has provided tremendous insight to our board of directors during his term of service.

"Although we are sad to see him leave, we thank him for his service to CRM and wish him well as he focuses on interests of a more local nature to him and his family."