CastlePoint Holdings, Ltd. Appoints Senior Vice President & Chief Accounting Officer
June 19 2007 - 4:35PM
Business Wire
CastlePoint Holdings, Ltd. (NASDAQ:CPHL) today announced the
appointment of Richard M. Barrow as Senior Vice President &
Chief Accounting Officer. Mr. Barrow�s primary responsibilities
will be to manage the accounting and financial reporting function
for CastlePoint Holdings, Ltd. and its subsidiaries. Michael H.
Lee, chairman and CEO, commented "We are very pleased to have a
chief accounting officer with Mr. Barrow�s broad financial and
management experience. His hiring will allow us to have another
senior level manager in addition to our current CFO, Joel Weiner.
They will continue to build our accounting function to meet the
requirements of our expanding company." With over 25 years of
experience in the insurance industry, Mr. Barrow most recently
served from 1996 until April 2007 as Senior Vice President,
Treasurer & Chief Financial Officer for Gerling America
Insurance Company, New York, NY, a subsidiary of the Talanx Group,
Hannover, Germany. Prior to that, Mr. Barrow was Senior Vice
President & Treasurer at Public Service Mutual Insurance
Company, New York, NY. Mr. Barrow is a CPA. Mr. Barrow holds a
Bachelor of Science degree in Accounting from SUNY Albany, New
York. About CastlePoint Holdings, Ltd. CastlePoint, a Bermuda-based
holding company, through its subsidiaries, CastlePoint Reinsurance
Company, CastlePoint Management Corp., and CastlePoint Insurance
Company, provides property and casualty insurance and reinsurance
business solutions, products and services to small insurance
companies and program underwriting agents in the United States.
CPHL-F Cautionary Note Regarding Forward-Looking Statements The
Private Securities Litigation Reform Act of 1995 provides a "safe
harbor" for forward-looking statements. This press release or any
other written or oral statements made by or on behalf of
CastlePoint may include forward-looking statements that reflect
CastlePoint's current views with respect to future events and
financial performance. All statements other than statements of
historical fact included in this press release are forward-looking
statements. Forward-looking statements can generally be identified
by the use of forward-looking terminology such as "may," "will,"
"plan," "expect," "intend," "estimate," "anticipate," "believe" or
"continue" or their negative or variations or similar terminology.
All forward-looking statements address matters that involve risks
and uncertainties. Accordingly, there are or will be important
factors that could cause CastlePoint's actual results to differ
materially from those indicated in these statements. The company
believes that these factors include but are not limited to
ineffectiveness or obsolescence of its business strategy due to
changes in current or future market conditions; increased
competition on the basis of pricing, capacity, coverage terms or
other factors; greater frequency or severity of claims and loss
activity, including as a result of natural or man-made catastrophic
events, than CastlePoint's underwriting, reserving or investment
practices anticipate based on historical experience or industry
data; the ability to obtain necessary governmental licenses; the
ability to hire and retain executive officers and other key
personnel; the ability to make certain acquisitions in a timely
fashion necessary to fulfill the company's business plan; the
effects of acts of terrorism or war; developments in the world's
financial and capital markets that adversely affect the performance
of the company's investments; changes in regulations or laws
applicable to CastlePoint, its subsidiaries, brokers or customers
including tax laws in Bermuda and the United States; acceptance of
CastlePoint's products and services, including new products and
services; changes in the availability, cost or quality of
reinsurance and failure of CastlePoint's reinsurers to pay claims
timely or at all; decreased demand for the company's insurance or
reinsurance products; the effects of mergers, acquisitions and
divestitures; changes in rating agency policies or practices;
changes in legal theories of liability under CastlePoint's
insurance policies or the policies that it reinsures; changes in
accounting policies or practices; and changes in general economic
conditions, including inflation and other factors. Forward-looking
statements speak only as of the date on which they are made, and
CastlePoint undertakes no obligation to update publicly or revise
any forward-looking statement, whether as a result of new
information, future developments or otherwise. For more information
visit CastlePoint's website at http://www.castlepoint.bm/.
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