Chief Financial Officer, General Counsel Named to St. Paul Re Management Team.Business Editors NEW YORK--(BUSINESS WIRE)--July 22, 2002 Executives have been named to two senior management positions at St. Paul St. Paul as a missionary he fearlessly confronts the “perils of waters, of robbers, in the city, in the wilderness.” [N.T.: II Cor. 11:26] See : Bravery Re, the reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. operation of The St. Paul Companies (NYSE NYSE See: New York Stock Exchange :SPC 1. (business) SPC - Statistical Process Control. Something to do with quality management. 2. (body) SPC - Software Productivity Centre. 3. (company) SPC - Software Publishing Corporation. 4. ): William Robbie, as chief financial officer, and Michael Lombardozzi, as general counsel. Upon completion of the initial public offering of Platinum Underwriters Holdings, Ltd., the Bermuda-based reinsurer re·in·sure tr.v. re·in·sured, re·in·sur·ing, re·in·sures To insure again, especially by transferring all or part of the risk in a contract to a new contract with another insurance company. to be formed from The St. Paul's ongoing reinsurance operations, Robbie and Lombardozzi will be appointed to the same posts at Platinum Underwriters. The initial public offering for Platinum Underwriters is in registration with the U.S. Securities and Exchange Commission, and has been temporarily postponed in light of current market conditions. Commented St. Paul Re President and Chief Executive Officer Jerry Fadden: "Bill and Michael complete our senior management team. They bring excellent experience and strong marketplace reputations to their new posts." Robbie, 51, previously was with XL Capital Ltd., since 1997. Most recently, he was XL Capital's executive vice president-financial services in its Stamford, Conn. office. Earlier, he was senior vice president-treasurer at XL Capital and executive vice president, chief financial and chief administrative officer A chief administrative officer (CAO) is responsible for administrative management of private, public or governmental corporations. The CAO is one of the highest ranking members of an organization, managing daily operations and usually reporting directly to the chief executive of XL Mid Ocean Reinsurance in Hamilton, Bermuda. Robbie also has held senior management positions with several insurance companies including The Prudential Insurance Company of America, The Continental Corporation, Monarch Capital Corporation and Aetna Life & Casualty. Robbie began his career with Ernst & Ernst (now Ernst & Young) and is a certified public accountant Certified Public Accountant (CPA) An accountant who has met certain standards, including experience, age, and licensing, and passed exams in a particular state. . He holds master's degrees in accounting and business administration from Northeastern University and a bachelor's degree from St. Michael's College St. Michael's College may refer to:
Lombardozzi, 40, previously was senior vice president-planning and operations of W.R. Berkley Corporation in Greenwich, Ct. From 1994 to 2001 he was senior vice president, secretary and general counsel of Berkley Insurance Company in Florham Park, N.J. From 1986 to 1994 he was an associate for the law firm of Willkie Farr & Gallagher. Lombardozzi holds a law degree from St. John's University (New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of ) and a bachelor's degree from the State University of New York at Binghamton Binghamton University, State University of New York, or their officially adopted name, Binghamton University, is a coeducational public research university located in Vestal, New York. . The St. Paul Companies is headquartered in Saint Paul, Minn., and provides commercial property-liability insurance and asset management services. The St. Paul reported 2001 revenue from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the of $8.9 billion and total assets of $38.3 billion, and is ranked No. 218 on the Fortune 500 list of largest U.S. companies. For more information about The St. Paul and its products and services, visit the company's Web site, www.stpaul.com. A registration statement relating to Platinum Underwriters Holdings, Ltd.'s securities has been filed with the Securities and Exchange Commission. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. A written prospectus relating to the offering of common shares may be obtained from the SEC's website, http://www.sec.gov. Certain statements made in this release may constitute forward-looking statements. Actual results may be different from those projected in the forward-looking statements. These forward-looking statements involve risks and uncertainties including, but not limited to, the following: market conditions for initial public offerings and, in particular, public offerings by reinsurance companies; the results of the proposed public offering; and the timing and receipt of regulatory approvals and other events that may impact the consummation of the proposed initial public offering. We undertake no obligation to release publicly the results of any future revisions we may make to forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. |
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