EXHIBIT 1
JOINT FILING AGREEMENT
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This will confirm the agreement by and among all the
undersigned that the Schedule 13D filed on or about this date with respect to
the
beneficial ownership of the undersigned of common shares, par value $1.00 per
share, of Max Re Capital Ltd. is being filed on behalf of each of the
undersigned. This agreement may be executed in two or more counterparts, each of
which shall be deemed an original, but all of which together shall constitute
one and the same instrument.
Dated: September 9, 2003
CAPITAL Z INVESTMENTS, L.P.
By: Capital Z Investment Management, Ltd., its
ultimate general partner
By: /s/ Xxxxx X. Xxxxxx
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Xxxxx X. Xxxxxx
General Counsel, Vice President of
Administration and Secretary
CAPITAL Z INVESTMENT MANAGEMENT, L.P.
By: Capital Z Investment Management, Ltd., its
general partner
By: /s/ Xxxxx X. Xxxxxx
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Xxxxx X. Xxxxxx
General Counsel, Vice President of
Administration and Secretary
CAPITAL Z INVESTMENT MANAGEMENT, LTD.
By: /s/ Xxxxx X. Xxxxxx
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Xxxxx X. Xxxxxx
General Counsel, Vice President of
Administration and Secretary