Bermuda-based Max Re Capital Ltd. announced that its subsidiary, Max USA Holdings Ltd., has completed the acquisition of a U.S.-based excess and surplus lines company, which, as previously indicated, will operate under the name Max Specialty Insurance Company (See IJ web site Dec.15, 2006 and March 27).
“The new Max subsidiary complements the Company’s existing insurance and reinsurance operations based in Bermuda and Dublin, Ireland,” said the bulletin.
Max Specialty is based in Richmond, Virginia, and is headed by Stephen J. Vaccaro, Jr. as President and CEO. It will “operate across two divisions, Brokerage and Contract Binding. Brokerage, headed by Jonathan Hahn, and Contract Binding, headed by Bryan Sanders, will each offer property, inland marine, casualty, excess liability, and umbrella insurance products,” the bulletin explained.
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