• 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.

Investments highlighted or discussed in this selection have been selected to illustrate SPC’s investment approach and/or market outlook and are not intended to be an indicator of past or future performance. Each investment discussed in this selection has been selected solely for this purpose and has not been selected on the basis of performance or any performance-related criteria. The investments discussed herein do not represent an entire portfolio and in the aggregate may only represent a small percentage of holdings. Nothing in this presentation shall constitute a recommendation or endorsement to buy or sell any security or other financial instrument referenced herein.