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Alterra Capital Combines Bermuda Subsidiaries
Alterra Capital Holdings Limited announced the amalgamation of its Bermuda operating subsidiaries, Alterra Insurance Limited and Harbor Point Re Limited. The newly amalgamated company, which has been renamed Alterra Bermuda Limited, will underwrite both insurance and reinsurance business from its offices in Hamilton, Bermuda. W. Marston (Marty) Becker,... Read more of this article
Alterra Capital Holdings To Start Trading Today
Alterra Capital Holdings Limited began trading this morning [May 13] on the NASDAQ Global Select market under the symbol ALTE and on the Bermuda Stock Exchange under the symbol ALTE.BH. Yesterday they announced the closing of a merger of equals between Max Capital Group Ltd. and Harbor Point Limited to form Alterra. The closing of the merger follows... Read more of this article
Max and Harbor Shareholders Vote To Merge
Max Capital Group Ltd. and Harbor Point Limited, a privately held company announced on April 29 that their respective shareholders have voted in favor of all proposals necessary to consummate the merger of equals of Max and Harbor Point, which was first announced on March 3rd. Completion of the transaction is contingent upon regulatory approvals and... Read more of this article
Bermuda Reinsurer Chile Estimates Hit 2 Billion
The catastrophic earthquake in Chile on Feb 27, 2010 is projected to be the most expensive insured loss in Latin American history, according to analysts at the international broker Cooper Gay. The powerful earthquake registered 8.8 on the Richter Scale and caused significant destruction. NASA reports that the magnitude 8.8 earthquake in Chile may... Read more of this article
Max Capital Expect $10 – $20 Million in Claims
Bermuda based reinsurance company Max Capital Group Ltd today announced that preliminary estimates of combined claims for the Chilean earthquake and European storm Xynthia could range from $10 million to $20 million. The estimate is provided net of reinstatement provisions and retrocessions. The company’s loss estimates are based on proprietary... Read more of this article
Two Bermuda Companies Merge: Max & Harbor
Two Bermuda based insurance companies Max Capital Group and Harbor Point have merged to create ‘Alterra Capital Holdings Limited’, a global insurance and reinsurance company. Alterra is expected to have approximately $3 billion in equity and minimal financial leverage, enhancing financial flexibility. The boards of directors of both Max... Read more of this article
