Market Overview

KBW Announces Change to KBW Property & Casualty Index (KPXSM)

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NEW YORK--(BUSINESS WIRE)--

Keefe, Bruyette & Woods, Inc., a full-service investment bank that specializes in the financial services sector, and a wholly owned subsidiary of KBW, Inc. (NYSE: KBW), announces the following change:

Effective prior to the opening of business on Tuesday, December 4, 2012, Validus Holdings Ltd. (NYSE: VR), a member of the KBW Property & Casualty Index (KPXSM), will undergo an increase in shares due to the completion of its previously announced acquisition of Flagstone Reinsurance Holdings, SA (NYSE: FSR).

The KBW indices have ten tradable exchange-traded funds licensed: KBW Bank Index (Index Ticker: BKXSM, ETF Ticker: KBWBSM); KBW Capital Markets Index (Index Ticker: KSXSM, ETF Ticker: KBWCSM); KBW Insurance Index (Index Ticker: KIXSM, ETF Ticker: KBWISM); KBW Regional Banking Index (Index Ticker: KRXSM, ETF Ticker: KBWRSM, KRSSM, KRUSM); KBW Financial Sector Dividend Yield Index (Index Ticker: KDXSM, ETF Ticker: KBWDSM); KBW Premium Yield Equity REIT Index (Index Ticker: KYXSM, ETF Ticker: KBWYSM); KBW Property and Casualty Insurance Index (Index Ticker: KPXSM, ETF Ticker: KBWPSM); and KBW Global (Ex. U.S.) Financial Sector Index (Index Ticker: KGXSM, ETF Ticker: KBWXSM).

About KBW

KBW, Inc. operates in the U.S., Europe, and Asia through its broker dealer subsidiaries, Keefe, Bruyette & Woods, Inc., Keefe, Bruyette & Woods Limited, and Keefe, Bruyette & Woods Asia Limited. Celebrating its 50th anniversary, KBW has established itself as a leading independent authority in the banking, insurance, brokerage, asset management, mortgage banking, real estate, and specialty finance sectors. Founded in 1962, the firm maintains industry-leading positions in the areas of research, corporate finance, mergers and acquisitions as well as sales and trading in equities and debt securities of financial services companies.

Press:
Intermarket Communications
Mike Gelormino, 212-909-4780

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