Angelo M. Guagliano Named President and CEO of Max Bermuda Ltd.

    HAMILTON, BERMUDA, June 20 /CNW/ - W. Marston (Marty) Becker, Chairman
and Chief Executive Offer of Max Capital Group Ltd., today announced that
Angelo M. Guagliano, most recently Executive Vice President and Chief
Underwriting Officer of Max Capital's Bermuda operating company, Max Bermuda
Ltd., has been promoted to President and Chief Executive Officer of Max
Bermuda. Mr. Guagliano has also been appointed to Max Bermuda's Board of
Directors, effective immediately.

    Mr. Becker, while relinquishing the role of CEO of Max Bermuda, continues
to serve as Chairman of Max Bermuda as well as Chairman and CEO of Max
Capital, its parent company.

    Mr. Becker said: "We are pleased to recognize Angelo's many talents and
contributions to our organization with this well-deserved promotion. We're
also pleased because it advances Max's goal of having experienced and
dedicated leadership for each of our geographic platforms to ensure continued
quality and consistency of execution as we continue to implement our strategic
growth plans."

    A seasoned insurance industry veteran with more than twenty-five years of
Casualty Underwriting experience, Mr. Guagliano, 53, joined Max in January
2003. Prior to that, he was most recently affiliated with XL Insurance
(Bermuda) Ltd., serving as its Executive Vice President; as Country Manager
for XL's Bermuda Insurance operations; and as XL's Chief Excess Liability
Underwriter and Manager.

    Prior to joining XL in January 1995, Mr. Guagliano worked for Reliance
National in New York from 1988 to 1995 in its Excess & Surplus Primary Unit.
From 1985 to 1988, he worked as an Excess Liability Underwriter for the Royal
Insurance Company. Mr. Guagliano, who began his Underwriting career with
Hartford Insurance Company in 1979, holds a BA in Political Science from
Queens College.

    Max Capital Group Ltd. (NASDAQ:   MXGL; BSX: MXGL BH) (the "Company"),
through its operating subsidiaries, provides specialty insurance and
reinsurance products to corporations, public entities, property and casualty
insurers and life and health insurers.

    This release may include statements about future expectations, plans and
prospects of the Company that constitute forward-looking statements for
purposes of the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements are subject to certain
risks and uncertainties that could cause actual results to differ materially
from those suggested by such statements, including the risk that the SEC's
view of the conclusions reached by the Audit and Risk Management Committee of
the Company's Board of Directors in connection with the internal review of
three finite risk retrocessional contracts written in 2001 and 2003, which
caused the Company to restate its audited financial statements for the years
ended December 31, 2005, 2004, 2003, 2002 and 2001 and unaudited financial
statements for the periods ended March 31, 2006 and June 30, 2006, may differ,
perhaps materially, and result in material changes to information contained in
the Company's past SEC filings, including financial statements and financial
information. For further information regarding cautionary statements and
factors affecting future results, please refer to the Company's Annual Report
on Form 10-K for the year ended December 31, 2006 and other documents filed by
the Company with the SEC. The Company undertakes no obligation to publicly
update or revise any forward-looking statement whether as a result of new
information, future developments or otherwise.

For further information:

For further information: Max Capital Group Ltd. N. James Tees,
1-441-295-8800 Executive Vice President or Kekst and
Company Roy Winnick, 1-212-521-4842

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