Max Re Capital’s founder and chief executive officer, Robert Cooney, resigned last week in the wake of the reopening of an investigation into possible accounting wrongdoing stemming from at least two finite-risk retrocession contracts.

W. Marston Becker will take over as chairman and acting chief executive, the company announced. Mr. Becker has served as a director of Max Re Capital Ltd. and Max Re Ltd. since April 2004.

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