Robert J. Cooney, Chairman, President & CEO stated, "It is difficult for any Company that maintains a diversigied investment portfolio to escape the negative investment climate and market turmoil that was exacerbated by the recent revelations of Worldcom, Inc. While we are disappointed with the absolute return of MDS this quarter, it is reassuring that even in challenging investment markets the risk management disciplines of MDS can produce a positive quarterly return."
Max Re Capital Ltd. through its principal operating subsidiary, Max Re Ltd., offers customized reinsurance solutions to property and casualty insurers, to life and health insurers and large corporations.
The above remarks about future expectations, plans and prospects for the Company are forward- looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks and uncertainties. The factors that could cause actual results to differ materially from those suggested by such statements include but are not limited to those discussed in the Company's prospectus filed with the Securities and Exchange Commission. Max Re undertakes no obligation to publicly update or revise any forward-looking statement whether as a result of new information, future developments or otherwise.