New Point V

A new acting head of retrocessional property reinsurance has been hired at Markel Global Reinsurance replacing recently departed Martin Vezina. Greg Richardson, a prior employee of Alterra Capital before Markel acquired the firm, will underwrite retro property reinsurance for Markel and the New Point sidecar.

Markel Corporation has announced today the completion of its acquisition of insurance and reinsurance group Alterra Capital Holdings after all regulatory approvals were received and votes cast in favour of the transaction by the two firms shareholders. Markel has now gained access to a major reinsurance and large-account insurance business. It also gains collateralized reinsurance […]

One of the larger re/insurance industry mergers in recent years is on the cards for 2013 after Markel Corporation and Alterra Capital Holdings announced that their boards have unanimously approved a merger agreement this week. Under the merger terms Alterra is valued as worth approximately $3.13 billion. The merger will create a very large specialty […]

Bermuda based re/insurance group Alterra Capital Holdings has announced an increase in their total capital committed to their New Point V Limited fully collateralized reinsurance sidecar vehicle to $247m. New Point V was established by Alterra back in June with $210m of capital to create new opportunities for them, and new capacity for, in the […]

Bermuda based re/insurance group Alterra Capital Holdings has today formally announced the formation of their awaited New Point V sidecar reinsurance vehicle. We’ve known that New Point V was on the horizon since as far back as March when an SEC filing disclosed that Alterra were preparing another iteration of their New Point series of […]

Bermuda based re/insurance group Alterra Capital Holdings is on the verge of launching another reinsurance sidecar vehicle according to a filing with the SEC. New Point V will be Alterra’s latest sidecar vehicle, last year saw them launch New Point VI in the middle of the year after raising $200m of capital for it.