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.
