Bermuda insurer Max Capital Group Ltd. yesterday announced that it has been added to the Russell 3000 Index. The company is benefiting from a recent change in Russell criteria to permit the inclusion on Russell's US indexes of Bermuda-domiciled companies whose shares are listed on US exchanges, in addition to companies incorporated in the US and its territories.

Membership in the Russell 3000 Index, which remains in place for one year, also means automatic inclusion of Max Capital in the Russell 2000 Index. Russell determines membership for its equity indexes primarily by objective, market-capitalisation rankings and style attributes.

Marston (Marty) Becker, chairman and chief executive officer of Max Capital, said: "We are pleased and honoured to have been added this year to the Russell Indexes, which can be expected to increase our visibility among institutional investors. We believe that, in turn, will help us expand our shareholder base and thereby benefit all Max Capital shareholders."