Quanta Capital Holdings Appoints European Chief Underwriting Officer

Business Wire, Jan 18, 2005

HAMILTON, Bermuda -- Quanta Capital Holdings Ltd. (NASDAQ: QNTA), a company that provides specialty insurance, reinsurance, and risk consulting services through its subsidiaries, today announced the appointment of John J. Byrne as the Chief Underwriting Officer for Quanta's European operations, Quanta Europe Ltd., based in Dublin, Ireland.

Most recently, Mr. Byrne was a Vice President & Financial Lines Manager - Iberia for AIG Europe S.A., a member of American International Group (AIG) based in Madrid. Mr. Byrne brings more than twenty-five years of professional industry experience and has held a variety of underwriting roles with AIG Europe in London, Dublin, Prague, Paris and Madrid, in addition to his initial role with AIG's internal audit function. Prior to joining AIG, Mr. Byrne was with Banque Nationale de Paris (BNP) in Dublin.

Richard Harris, Managing Director of Quanta's European operations, stated, "John brings a strong background and significant industry expertise to Quanta Europe, and we are delighted to welcome him as the Chief Underwriting Officer. We are looking forward to John's contributions in expanding our European specialty lines strategy and our European operations."

About Quanta Capital Holdings Ltd.

Quanta Capital Holdings Ltd., a Bermuda holding company, provides specialty insurance, reinsurance, risk assessment and risk consulting products and services through its subsidiaries. Through operations in Bermuda, the United States, Ireland and the United Kingdom, Quanta focuses on writing coverage for specialized classes of risk through a team of experienced, technically qualified underwriters. The company offers specialty insurance and reinsurance products that often require extensive technical underwriting skills, risk assessment resources and engineering expertise. Quanta is listed on the NASDAQ stock market and trades under the symbol QNTA.

The statements contained in this press release may include forward-looking statements within the meaning of the federal securities law. Although the company believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved. As forward-looking statements, these statements involve risks, uncertainties and other factors that could cause actual results to differ materially from the expected results. These factors are detailed in the company's filings with the U.S. Securities and Exchange Commission. The company assumes no obligation to update or supplement forward-looking statements to reflect subsequent events or circumstances.