Max Capital Group Ltd. has expanded its global reach with the completion of the previously announced acquisition of Imagine Group (UK) Ltd., a Lloyd's insurance operation, from Imagine Insurance Company Limited.

Imagine managing agent will be renamed Max at Lloyd's Ltd. The acquisition includes Imagine's operations in Denmark and Japan.

Max at Lloyd's, through Lloyd's Syndicates 1400, 2525 and 2526, underwrites a diverse portfolio of specialty risks including property catastrophe, financial institutions, personal accident, employers' and public liability, and professional indemnity business.

Based in London, Max at Lloyd's will complement Max Capital's current underwriting operations in Bermuda, Ireland and the US.

Marston (Marty) Becker, chairman and chief executive officer of Max Capital, said: "With our acquisition of Max at Lloyd's, we have accomplished the key strategic objective of obtaining access to the Lloyd's market and its important benefits with a team of high quality underwriters.

"Max at Lloyd's will further diversify Max's risk profile and enable us to provide our global clients with a wide range of products backed by both the financial strength of Max and the highly rated security common to all Lloyd's syndicates. A Lloyd's presence will also present new opportunities to add key specialty underwriting teams to our company."