#2 Front Street
Hamilton HM 11
Chris Rutten ( chris.rutten@
maxbermuda.com) or Art Palmer (art.
Operating from offices in Bermuda, Ireland,
the USA and at Lloyd’s, Max Capital is a global
enterprise dedicated to providing diversified
specialty insurance and reinsurance products
to corporations, public entities, property and
casualty insurers and life and health insurers. Our Life & Annuity business expects to
create value by generating mortality profits,
by operational efficiencies and by utilizing attractive investment strategies tailored to the
underlying insurance liabilities. We believe
this business model to be:
Superior in competitiveness.
Superior in controlling risk and its significant financial consequences.
Superior in achieving higher risk-adjusted
returns from insurance activities.
Life & Annuity Reinsurance Division
Today, our Life and Annuity clients are
challenged to achieve attractive, profitable
business growth in an economic environment characterized by low interest rates,
volatile asset returns and policies with high
minimum interest guarantees, while expense
and resource pressures continue to mount.
Max has access to attractive financial efficiencies and provides business solutions
that enable our clients to redeploy capital to
invest in growth, and improve ROE. Simultaneously, our customers’ results are stabilized
and operational servicing requirements can
be outsourced to third party administrators
chosen by product line with a “best in class”
We carefully review and analyze the ceding client’s risk management, operations,
product design, marketing and medical underwriting practices in deciding whether
our solutions provide a fit to our customer’s
needs. We seek to increase the stability and
predictability of the underlying risks reinsured
Rigorous actuarial and modeling evaluations.
Extensive due diligence conducted on-site by outside experts that are leaders in
the business to be evaluated.
Analysis of historical performance data
for the client, comparing it to the industry
as a whole.
A complete review of the non-actuarial
business risks in the exposure to be
Our Life and Annuity business includes
reserve buy-outs of life, health, annuity and
disability products and is focused on existing blocks of business. By focusing on the
reinsurance of existing blocks of business,
we have a distinct advantage—access to
more information and statistical experience
data relevant to the actual performance of the
liabilities and assets to be transferred. Our
underwriting aims to achieve highly predictable and stable results. This, in turn, enables
Max and clients to benefit from Max’s investment allocation and spread management
With the increased focus on counterparty
credit risks, most of our transactions include
reserve credit collateral and other financial
enhancement structures to further stabilize
our clients’ financials. Max has become a recognized name and respected counter-party
in the insurance and reinsurance markets
throughout North America and Europe.
Europe represents an economic zone of
significant scale with the growing benefits of
the single currency, and provides Max with
diversification from its substantial North
All the major macro themes that drive
insurance markets throughout the world—
operational effectiveness, efficient use of capital,
merger and acquisition activity, and the need
to harmonize these themes with strong financial ratings—are heightening interest in the
transactions we support. Our goal is to serve
the demands of our existing and future clients
with the most efficient and competitive solutions in the corporate reinsurance market.
A.M. Best A- (Excellent)
Fitch A (Strong)
Max Capital Group Ltd. is publicly traded on the NASDAQ Global Select Market
(MXGL) and BSX (BH MXGL). At 3/31/2009,
it had Shareholders’ Equity of $1.3 billion and
Total Assets of $7.2 billion.