M&A Deal Summary

Markel Acquires Alterra Capital Holdings

On December 19, 2012, Markel acquired insurance company Alterra Capital Holdings for 3.1B USD

Acquisition Highlights
  • This is Markel’s 3rd transaction in the Insurance sector.
  • This is Markel’s largest (disclosed) transaction.
  • This is Markel’s 1st transaction in Bermuda.

M&A Deal Summary
Date 2012-12-19
Target Alterra Capital Holdings
Sector Insurance
Buyer(s) Markel
Deal Type Add-on Acquisition
Deal Value 3.1B USD
Advisor(s) BofA Securities (Financial)
Akin Gump Strauss Hauer & Feld LLP
Conyers Dill & Pearman (Legal)

Target

Alterra Capital Holdings

Hamilton, Bermuda
website
Alterra Capital Holdings Limited is a global insurance and reinsurance company dedicated to providing diversified specialty products to corporations, public entities, property and casualty insurers and life and health insurers. Alterra was formed through the May 2010 merger of Harbor Point Limited and Max Capital Group Ltd.

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Buyer(S) 1

Buyer

Markel

Glen Allen, Virginia, United States

website

Category Company
Founded 1930
Sector Insurance
Employees20,300
Revenue 11.8B USD (2022)
DESCRIPTION

Markel is a diverse financial holding company serving a variety of niche markets through underwrites specialty insurance products. Markel was founded in 1930 and is based in Glen Allen, Virginia.

DEAL STATS #
Overall 3 of 13
Sector (Insurance) 3 of 9
Type (Add-on Acquisition) 3 of 13
Country (Bermuda) 1 of 2
Year (2012) 2 of 2
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-04 Thompson Insurance Enterprises

Kennesaw, Georgia, United States

Thomco manages programs that provide comprehensive insurance solutions for the Child Care, Senior Living, Medical Transportation, Fitness Center, Pest Control, Social Service, and Tanning Salon markets.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-17 Abbey Protection

London, United Kingdom

Abbey Protection is an integrated specialist insurance and consultancy group focused on the underwriting and sale of insurance products to UK SMEs and affinity groups providing protection against legal expenses and professional fees incurred as a result of legal actions and HMRC investigations.

Buy -
Mergr

Product

Company

Legal