Mr. John L. Marion, President & Managing Director of Western General Insurance Ltd. will replace Mr. Rackley on the Board of Directors of Max Re Capital Ltd.
In addition, Mr. Glenn Dubin resigned from Max Re Capital Ltd.'s Board of Directors to devote his full energies to the management of Highbridge Capital Management, LLC, a global equity arbitrage concern he co-founded in 1992. Mr. Dubin has been a Director of the Company since September 1999.
Mr. Robert J. Cooney, Chairman, President & CEO stated " Both Peter and Glenn have made significant contributions to the Company, and their presence on our Board will be greatly missed. We are pleased to welcome John Marion to our Board."
Max Re Capital Ltd. through its principal operating subsidiary, Max Re Ltd., offers customized risk financing solutions to life and health insurers, property and casualty insurers, and large corporations.