First Mercury Financial Corporation Added to the Russell 2000(R), Russell 3000(R) and Russell Microcap(TM) Equity Indexes
December 18 2006 - 9:00AM
PR Newswire (US)
SOUTHFIELD, Mich., Dec. 18 /PRNewswire-FirstCall/ -- First Mercury
Financial Corporation (NYSE:FMR) today announced that its stock has
been added to the Russell 2000(R), Russell 3000(R) and Russell
Microcap(TM) Indexes effective December 15, 2006. The Russell 3000
is a listing of the top 3,000 U.S. common stocks, ranked from the
largest to the smallest market capitalization. The Russell 2000 is
a benchmark index for small-cap investments and is comprised of the
stocks in the lower two-thirds of the Russell 3000. The Russell
Microcap Index includes the smallest 1,000 securities in the
Russell 2000 plus the next 1,000 securities. These indexes act as a
performance standard for fund managers and rank as the most widely
used set of performance benchmarks for institutional investment
products. Richard Smith, chairman and chief executive officer,
commented, "We are quite pleased to be included in all three of
these indexes. We believe that our inclusion will further increase
investor awareness about First Mercury, especially as we continue
to deliver on our business strategy and build shareholder value."
The Russell indexes are reconstituted every year in June, with
eligible Initial Public Offerings added at the end of each calendar
quarter. About First Mercury Financial Corporation First Mercury
Financial Corporation markets and underwrites specialty commercial
insurance products, focusing on niche and underserved segments
where the company has underwriting expertise and other competitive
advantages. During the company's 33 years of underwriting risks,
First Mercury has established CoverX(R) as a recognized brand among
insurance agents and brokers. As primarily an excess and surplus
(E&S) lines underwriter, First Mercury's goal is to generate
underwriting profit utilizing its strong underwriting expertise and
a cost-efficient infrastructure. Safe Harbor Statement This release
contains forward-looking statements that relate to future periods
and includes statements regarding our anticipated performance.
Generally, the words "anticipates," "believes," "expects,"
"intends," "estimates," "projects," "plans" and similar expressions
identify forward- looking statements. These forward-looking
statements involve known and unknown risks, uncertainties and other
important factors that could cause our actual results, performance
or achievements or industry results to differ materially from any
future results, performance or achievements expressed or implied by
these forward-looking statements. These risks, uncertainties and
other important factors include, among others: our ability to
maintain or the lowering or loss of one of our financial or
claims-paying ratings; our actual incurred losses exceeding our
loss and loss adjustment expense reserves; the failure of
reinsurers to meet their obligations; our inability to obtain
reinsurance coverage at reasonable prices; the failure of any loss
limitations or exclusions or changes in claims or coverage; our
lack of long-term operating history in certain specialty classes of
insurance; our ability to acquire and retain additional
underwriting expertise and capacity; the concentration of our
insurance business in relatively few specialty classes; competition
risk; fluctuations and uncertainty within the excess and surplus
lines insurance industry; the extensive regulations to which our
business is subject and our failure to comply with these
regulations; our ability to maintain our risk-based capital at
levels required by regulatory authorities; our inability to realize
our investment objectives; and the risks identified in our filings
with the Securities and Exchange Commission, including our
Registration Statement on Form S-1. Given these uncertainties, you
are cautioned not to place undue reliance on these forward-looking
statements. We assume no obligation to update or revise them or
provide reasons why actual results may differ. For more information
on the company, please visit the company's website at
http://www.firstmercury.com/ DATASOURCE: First Mercury Financial
Corporation CONTACT: Bill Kindorf, VP - Corporate Development of
First Mercury Financial, +1-248-358-4010, , or Analysts-Investors,
Leslie Loyet of Financial Relations Board, +1-312-640-6672, Web
site: http://www.firstmercury.com/
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