Markel has received final regulatory and shareholder approval for its acquisition of Alterra, with the company promising a seamless transition for clients and brokers.
Commenting on the deal Alan Kirshner, chairman and CEO of Markel said that the combination of the two players will “create a strong company in global specialty insurance and investments, with a demonstrated track record of underwriting discipline in niche market segments and proven asset management strengths”
The acquisition will expand Markel’s product offering and its geographic reach, with Markel adding two new business units—Markel Global Insurance and Markel Global Reinsurance—to its existing offering. The company promised a seamless transition for its broker and client partners, adding that clients would experience “scale enhanced, business as usual”.
Markel now boasts $23 billion in combined assets and $6 billion in shareholder equity, with the company well positioned to seize upon opportunities in the insurance and investment sectors.
Markel, M&A, Alterra, Bermuda, reinsurance, insurance