Brining to Retire as Max Re Exec. VP

Bermuda-based Max Re Capital Ltd. announced that W. Dave Brining, Executive VP — Marketing & Client Services, will be retiring from the Company as of April 1, 2005, in order to pursue personal interests.

Brining was a founding member of Max Re and was instrumental in the development of the company’s global strategy. He successfully established and led Max Re’s Property and Casualty reinsurance business until 2003. In that year he was appointed Executive Vice President — Marketing & Client Services and also charged with managing our ceded reinsurance programs.

President and CEO, Robert J. Cooney, stated: “It is with regret that I received news of Dave’s intention to retire. However, I respect his decision, and I speak on behalf of the Board and his many colleagues and friends at Max Re in wishing him the very best. We are delighted to note however that we’re not losing him completely as Dave will assist Max Re occasionally on a consulting basis.”