• Investment Year:2005
  • Status:Past | Acquired by Alterra
  • Stage:
  • HQ:Glen Allen, Virginia

Sector(s)

Alterra / Markel

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Alterra Capital was a global specialty insurance and reinsurance company with headquarters in Bermuda.

The company was formed on May 12, 2010 by the merger of Max Capital Group Ltd. (NASDAQ: MXGL) and Harbor Point Limited, which Trident III had formed in 2005 in partnership with Chubb Corporation. In December 2012, Alterra entered into a definitive agreement to merge with Markel Corp. (NYSE: MKL).

INDUSTRY KNOWLEDGE & NETWORK

Stone Point assisted Markel with the rating agency process and regulatory approval process (secured “A” rating from A.M. Best vs. “A-” for most start-ups).

INTRODUCTION TO CLIENTS & PARTNERS

Stone Point made an executive-level introduction of Markel to an important quota share partner, PARIS RE.

M&A SOURCING

Stone Point led the diligence, negotiation and documentation for the merger of Harbor Point and Max Capital. Additionally, Stone Point structured a renewal rights transaction with Chubb as well as quota share and transition services agreements.

EXECUTIVE RECRUITING & ALIGNMENT

Stone Point recruited Markel’s CFO, CAO, Legal Counsel and Outside Directors.

CAPITAL RAISING & STRUCTURING

Stone Point secured over $1billion of capital from outside investors. Stone Point also assisted in structuring and raising capital for two “side-car” transactions.