Bermuda-based Max Re Capital Ltd. announced that it will seek shareholder approval to change the Company’s name to Max Capital Group Ltd. at the 2007 Annual General Meeting of Shareholders (AGM) to be held on Friday, May 4, 2007.
The bulletin said the decision “reflects the Company’s strategic evolution from its initial focus on reinsurance seven years ago to a balanced mix of specialty insurance and reinsurance products today.”
If the proposal is approved, the Company, which currently trades on both the NASDAQ Global Select Market and the Bermuda Stock Exchange under the ticker symbol MXRE, intends to change its ticker symbol to MXGL. At the same time and also subject to shareholder approval, its Bermuda-based operating company, currently known as Max Re Ltd., will adopt the new name Max Bermuda Ltd.
Chairman and CEO W. Marston Becker commented: “Since inception in 1999, Max Re has evolved strategically from a reinsurer offering a combination of life reinsurance and structured reinsurance products, to a company whose product mix is balanced between specialty primary insurance and reinsurance, and between property and liability exposures.
“In light of that strategic evolution, the Company’s Board of Directors concluded that the proposed name change from Max Re Capital Ltd. to Max Capital Group Ltd. will more closely align the Company’s name with its products and services now that we have expanded well beyond reinsurance operations,” he added.
Topics Reinsurance
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