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Max Capital Opens Reinsurance Operation In Latin America, Names Management Executives

For expansion of Max’s franchise

Max Capital Group has established a Latin American reinsurance operation and has appointed two senior managers for the region. Carlos Caputo will serve as chief executive officer of Max’s Latin American business, while Sonia Galvis will serve as chief underwriting officer.

Marston (Marty) Becker, chairman and CEO of Max Capital Group, said: The addition of a Latin American reinsurance platform represents an important step in the development of Max’s global franchise. The region, in particular Brazil, is emerging fast from the global economic crisis, with significant GDP growth predicted in 2010, and Brazilian reinsurance premiums are projected to increase by 20% per annum through 2011. We expect this to be an important market for Max. Carlos and Sonia are accomplished and well-connected professionals.”

Mr Caputo has 36 years of underwriting and management experience in Latin America and, in particular, Brazil. Most recently, he served as regional director and operating officer for XL Re Latin America. He was previously deputy chairman of Aon Group and has held senior management positions with Alexander & Alexander Brazil and Cisema.

Ms Galvis has 30 years of insurance and reinsurance underwriting and management experience, most recently as the regional director and underwriting officer of the Northern region for XL Re Latin America. Previously, she served as CEO of Seguros Alfa and Seguros de Vida Alpha. She has also held various senior management positions at Seguros Colmena Colombia, now Liberty Colombia.