NU Online News Service, July 22, 1:55 p.m. EDT
Max Capital Group Ltd. said today that its United States subsidiary, Max Specialty Insurance Company, has completed its licensing as an eligible surplus lines insurer.
The Richmond-based insurance company was approved to write surplus lines business in Puerto Rico, making Max Specialty eligible to write business on a non-admitted basis in all 50 states, along with Puerto Rico and the U.S. Virgin Islands, the Bermuda-based reinsurer said.
"With the addition of Puerto Rico as a jurisdiction in which Max Specialty may write surplus lines business, we have completed our licensing program," Steve Vaccaro, president and chief executive officer of Max Specialty said in a statement.
Max Specialty operates across three divisions, including brokerage, contract binding and marine.
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