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WIKI ANALYSIS
Max Bermuda Ltd. provides a wide range of specialty insurance and reinsurance products for corporations, public entities, property and casualty insurers and life and health insurers. From offices in Hamilton, Bermuda, we offer Excess Liability, Professional Liability and Property insurance, primarily to Fortune 1000 companies, as well as Casualty, Property and Specialty reinsurance on excess of loss and quota share bases. The Company also provides reinsurance for existing blocks of Life & Annuity business.
Incorporated in July 1999, Max Re Capital Ltd. (MXRE) offers customized reinsurance and insurance products to cover property and casualty, life and health, and enterprise risks in North America and Europe. Rated A- (excellent) by AM Best, the Bermuda-based company divides its broad range of insurance and reinsurance products into two segments, namely Property and Casualty (P&C) and Life and Annuity (L&A):
Property & Casualty the P&C segment (72% of gross written premiums in 3Q07) provides traditional and alternative risk transfer insurance and reinsurance, and structured risk transfer reinsurance. The company focuses primarily on the casualty risk classes, such as workers' compensation, general liability, professional liability (directors and officers or D&O, errors and omissions or E&O, and employment practices liability), medical malpractice, with a lesser focus on aviation, marine, accident, health and property catastrophe.
Life & Annuity the L&A segment (28% of gross written premiums in 3Q07), covers mortality and investment risks, early surrender, and lapse and morbidity risks in the form of co-insurance transactions, whereby the risks are reinsured on the same basis as that of original policies.
Max Capital Group companies have an A-(Excellent) rating from A.M. Best and an A (Strong) rating from Fitch. Max Bermuda Ltd. has an A3 rating from Moody’s.
Excess & Surplus Lines insurance Max Specialty Insurance Company was launched in the second quarter of 2007 as Max Capital Group’s US-based Excess and Surplus Lines platform. Max Specialty operates across two divisions, Brokerage and Contract Binding.
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