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He will replace Simon Curtis who, as announced at the preliminary results on 29 March 2007, will be stepping down at the end of September.

Andrew Baddeley joins Atrium from General Reinsurance Corporation (Gen Re) where he was Chief Financial Officer for the UK and Ireland. His previous posts at Gen Re have included Finance Director, Global Finance and Chief Operations Officer, Finite Risk. He started his career as a Chartered Accountant with Ernst & Young before specialising in tax consulting services to the insurance industry with Price Waterhouse, now PricewaterhouseCoopers.

It is expected that Andrew Baddeley's appointment, which is subject to the usual regulatory approvals and clearances, will take place after the completion of Ariel's acquisition of the Company which was declared wholly unconditional on 30 August, 2007. A further announcement will be made as soon as the effective date of appointment has been determined.

Steve Cook, Chief Executive Officer, commented: "Andrew Baddeley brings with him a wealth of experience and expertise, not only in the insurance and financial services sectors but specifically in Lloyd's and US reporting. Andrew should make an excellent addition to our team as we make the transition to a UK subsidiary of Ariel Re."