of Hadley C. Ford to the Company's Board of Directors.

Mr. Ford will stand for re-election at the Company's Annual General Meeting, which has been scheduled for May 25 in Bermuda.

Mr. Ford, 64, currently serves as an advisor to several companies and not-for-profit organisations.

He has worked for most of his career as a management consultant. From 1993 to 1999, Mr. Ford was a senior advisor to the insurance industry and strategy practices of Andersen Consulting.

Prior to that, he was Senior Vice President and a member of the Board of Directors and Operating Council of Booz, Allen & Hamilton, Inc., where he founded and led the firm's insurance industry consulting practice until his retirement in 1992.

Mr. Ford currently serves as non-executive Chairman of the Board of Tesia Corporation, a technology-based processor of medical and dental claims. Mr.

Ford also served as non-executive Chairman of the Board of Gryphon Holdings, a publicly traded specialty property-casualty insurance holding company, from 1993 until 1999, when Gryphon was acquired by Markel Corporation.

Mr. Ford also served on the board of US Homecare Inc., a publicly traded home healthcare company; and on the advisory board of AMPlus, a joint venture between Andersen Consulting and AMP, Australia's largest insurance company.

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