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

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

Business Wire

NEW YORK -- November 29, 2012

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 (KPX^SM), 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: BKX^SM, ETF Ticker: KBWB^SM); KBW Capital Markets Index
(Index Ticker: KSX^SM, ETF Ticker: KBWC^SM); KBW Insurance Index (Index
Ticker: KIX^SM, ETF Ticker: KBWI^SM); KBW Regional Banking Index (Index
Ticker: KRX^SM, ETF Ticker: KBWR^SM, KRS^SM, KRU^SM); KBW Financial Sector
Dividend Yield Index (Index Ticker: KDX^SM, ETF Ticker: KBWD^SM); KBW Premium
Yield Equity REIT Index (Index Ticker: KYX^SM, ETF Ticker: KBWY^SM); KBW
Property and Casualty Insurance Index (Index Ticker: KPX^SM, ETF Ticker:
KBWP^SM); and KBW Global (Ex. U.S.) Financial Sector Index (Index Ticker:
KGX^SM, ETF Ticker: KBWX^SM).

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.

Contact:

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