Hashtag: #AlterraCapitalHoldings
A.M. Best Affirms Ratings of Alterra Capital
A.M. Best Co. has affirmed the financial strength rating (FSR) of A (Excellent) and issuer credit ratings (ICR) of “a” of Alterra Bermuda Limited (Alterra Bermuda) and its affiliated operating companies. Concurrently, A.M. Best has affirmed the ICR of “bbb” of Alterra Bermuda’s immediate parent company, Alterra Capital Holdings Limited (Alterra).... Read more of this article
Markel Completes Acquisition Of Alterra Capital
The Markel Corporation announced today [May 1] it has completed its acquisition of Bermuda’s Alterra Capital Holdings Limited. The closing follows receipt of regulatory approvals and votes in favor of the transaction by the shareholders of the two companies in February. The combined entity will have approximately $23 billion in assets and $6 billion... Read more of this article
Markel Corp. Postpones Closing Of Alterra Deal
Markel Corporation said it is postponing the closing of its acquisition of Bermuda reinsurance firm Alterra Capital Holdings until May 1. The deal had been set to close this week. It was announced in December that Alterra Capital Holdings Limited would be acquired by Virginia-based insurance holding company Markel Corporation in a deal worth approximately... Read more of this article
Marty Becker To Address Alma Mater Tonight
W. Marston Becker, president and CEO of Bermuda’s Alterra Capital Holdings Ltd.,will address faculty and students of his alma mater tonight at the Business and Economics Distinguished Speaker Series tonight [Apr. 25] at at West Virginia University [WVU]. Mr. Becker [pictured], a WVU College of Business and Economics alumnus, founded Alterra which... Read more of this article
Markel & Alterra Shareholders Approve Merger
Markel Corporation and Alterra Capital Holdings Limited confirmed that their respective shareholders have voted in favor of all proposals necessary for the acquisition of Alterra by Markel. Completion of the transaction remains subject to receipt of regulatory approvals and other customary closing conditions and is expected to occur in the second quarter... Read more of this article
Markel To Acquire Alterra For Approx. $3.13B
Bermuda-based Alterra Capital Holdings Limited will be acquired by Markel Corporation, in a deal worth approximately $3.13 billion. Alterra CEO Marston Becker is expected to leave the company following the close of the transaction. Under the terms of the agreement, the aggregate consideration for Alterra is approximately $3.13 billion, based on a... Read more of this article
Alterra Sidecar Receives Investment Boost
Bermuda re/insurer Alterra Capital Holdings Limited today [Dec.18] announced an increase in the total capital committed to New Point V Limited to $247 million. New Point V is a sidecar vehicle that was established to create additional capacity for the property catastrophe collateralised reinsurance marketplace. New Point V is sponsored by Alterra in... Read more of this article
Alterra To Partner With Ullico Casualty Group
Alterra Capital Holdings Limited’s subsidiary, Alterra America Insurance Company has entered into a long-term partnership with Ullico Casualty Group, Inc. [UCG], a subsidiary of Ullico Inc., that will allow Alterra to effectively participate in the US multiemployer and governmental fiduciary liability and union liability insurance market. Doug... Read more of this article
Alterra Expect $10/15M On Q3 Catastrophes
Bermuda-based Alterra Capital Holdings Limited said their initial estimate for losses from third quarter 2012 catastrophe events, predominantly from Hurricane Isaac, is in the range of $10 million to $15 million, pretax and net of reinsurance and reinstatement premiums. Losses are expected to relate principally to Alterra’s US insurance segment. In... Read more of this article
Q2: Significant Increase For Alterra’s Net Income
Bermuda-based Alterra Capital Holdings Limited reported [PDF] net income of $78.9 million, or $0.77 per diluted share, for the second quarter of 2012, compared to net income of $32.6 million, or $0.30 per diluted share, for the same quarter of 2011. Net operating income for the second quarter of 2012 was $69.0 million, or $0.68 per diluted share, compared... Read more of this article
Alterra Capital Holdings Launches $210M Sidecar
Bermuda-based Alterra Capital Holdings Limited announced the formation of New Point V Limited, an addition to its series of sidecar vehicles that has been established to create additional capacity for the property catastrophe collateralized reinsurance marketplace. New Point V is again being sponsored by Alterra in partnership with Stone Point Capital... Read more of this article
A.M. Best Revises Alterra’s Outlook To Stable
A.M. Best Co. has revised the outlook to stable from negative and affirmed the financial strength rating (FSR) of A (Excellent) and issuer credit ratings (ICR) of “a” of Alterra Bermuda Limited (Alterra Bermuda) and its affiliated operating companies. Concurrently, A.M. Best has revised the outlook to stable from negative and affirmed the ICR of... Read more of this article
