Max Re Sees 9-Month Profit

Bermuda-based Max Re Capital Ltd. has issued a preliminary statement indicating that, despite the natural catastrophes of the third quarter of 2005, it still foresees overall net income for the first nine months of the year between $10 and $20 million.

“These results include an estimated negative impact on earnings of $US90 million from Hurricane Katrina, which is at the high end of the Company’s previously announced range of $US60 million to $US90 million, and an estimated negative impact on earnings of $US20 million from Hurricane Rita,” said the announcement.