Specialty insurer Markel Corp. has agreed to acquire Alterra Capital Holdings Ltd. for $3.1 billion in cash and stock to increase business diversification and expand into reinsurance. The two companies announced Wednesday that their boards of directors have unanimously approved …
Alterra American Insurance Company is arguing that it is not obligated to defend or indemnify its insured — the National Football League and NFL Properties L.L.C. — against concussion-related lawsuits brought by former NFL players and their families.Alterra filed its …
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 and its affiliated operating companies. Best also revised …
Bermuda-based Alterra Capital Holdings Limited announced that the Brazilian insurance and reinsurance regulator, Superintendencia de Seguros Privados (SUSEP), has given final approval for it to establish a local reinsurance company. The subsidiary, Alterra Resseguradora do Brasil S.A., will be located …
Alterra Capital: Q3 2011 Q3 2010 Gross premiums written $386.33 mn $325.21 mn 9 months — 2011 2010 $1.578 bn $1.095 bn Net premiums earned —- $347.04 mn $342.43 mn 9 months – 2011 2010 $1.0758 bn $829.93 mn Net …
A number of Bermuda-based re/insurers have announced their respective loss estimates for the third quarter of 2011. The figures given include loss adjustment expenses, and are net of any applicable reinsurance recoveries, reinstatement premiums and taxes. Aspen Insurance Holdings Limited …
Selective Insurance Group is acquiring Montpelier U.S. Insurance Company (acronym MUSIC), an excess-and-surplus lines unit from Montpelier Re U.S. Holdings Ltd., for $55 million. Selective said the deal would be completed before the end of the year, pending customary closing …
A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Alterra Bermuda Limited) and its affiliated operating companies. Best also revised …
Bermuda-based Alterra Capital Holdings Limited announced that John Berger, CEO of Reinsurance and a member of Alterra’s Board of Directors, is leaving in order to pursue a new opportunity. The company said Thomas C. (Tom) Wafer, formerly the President of …
Alterra Capital Holdings Limited announced that the State of New York Insurance Department has approved Alterra Bermuda Limited “as an eligible reinsurer for reduced collateral status, which allows lower collateral requirements for non-domestic reinsurers that are highly rated and financially …
