Alea Group Ltd., PXRE Group Ltd. and Quanta Capital Holding Ltd. have been removed from the Bermuda Stock Exchange?s Bermuda Insurance Index?s constituent base.

The Index tracks the performance of insurance companies which have their ?mind and management? in Bermuda and which are traded on the New York Stock Exchange or the NASDAQ Stock Market.

Under Section 4.4 of the Index?s ground rules, companies must be greater than one percent of the capitalisation of the index to be included at review.

BSX chief executive Greg Wojciechowski said: ?Because their market cap has fallen below one percent of the entire index they lose eligibility and they are removed. It is a test against market capitalisation in their traded markets.?

At the time of removal, Alea had just .76 of a percent of the overall market capitalisation of the index while Quanta was .56 percent and PXRE was just .49 percent of the index.

The total number of Index constituents now stands at sixteen, with a combined Market Cap of $58.8 billion.