A.M. Best Co. has commented that the financial strength rating of A (Excellent) and issuer credit ratings (ICR) of “a” of Harbor Point Re Limited, Harbor Point Reinsurance U.S., Inc. (HPRUS) (Greenwich, CT) and the ICR of “bbb” of their parent holding company, Harbor Point Limited (Harbor Point) are unaffected by the definitive agreement reached to merge with Max Capital Group Ltd. (MXGL) [NASDAQ: MXGL]. All companies are domiciled in Hamilton, Bermuda, except where specified. In A. M. Best’s opinion, the merger between Harbor Point and MXGL will enhance the capacity and distribution capability of Harbor Point’s products due to the complementary nature of MXGL’s existing operating platforms. The combined organization will benefit from operating synergies, limited overlap in lines of business and improved diversification. Offsetting factors relate to the execution risk of integrating these two diverse organizations. However, these risks are somewhat mitigated by Harbor Point’s strong management team, which has historically demonstrated solid enterprise risk management fundamentals. Harbor Point is a reinsurance holding company with operating subsidiaries in Bermuda and the United States. Through its operating subsidiaries, Harbor Point writes property catastrophe, casualty and specialty reinsurance. In connection with its formation in 2005, Harbor Point acquired the business and continuing operations of Chubb Re, including the renewal rights to Chubb Re’s in force book of assumed reinsurance business. For Best’s Credit Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings. The principal methodologies used in determining these ratings, including any additional methodologies and factors that may have been considered, can be found at www.ambest.com/ratings/methodology. Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com.