Hamilton, Bermuda — Montpelier Re Holdings Ltd. has received approval from the Financial Services Authority and Lloyd's to establish a wholly owned Lloyd's Managing Agent subsidiary, Montpelier Underwriting Agencies Ltd. (MUA), which will assume the management of Montpelier Syndicate 5151 for the 2009 underwriting year, effective Jan. 1, 2009.
Syndicate 5151, which underwrites a book of non-marine property and engineering classes, and a limited amount of specialty casualty business sourced from the London, U.S. and European markets, began trading on July 1, 2007, under the management of Spectrum Syndicate Management Ltd.
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