Deal set to conclude in second quarter
The shareholders of Markel Corporation and Alterra Capital Holdings have voted in favour of the merger.
Under the terms of the agreement, Alterra shareholders will receive 0.04315 Markel shares and $10 (£6.60) in cash per share.
Markel agreed to buy Bermuda-based (re)insurer Alterra for $3.13bn (£2.06bn) in December 2012.
Following the merger of the two companies, Markel’s existing shareholders will own 69% of the combined entity and Alterra’s shareholders will own 31%.
The combined entity will control about $4.4bn of gross written premium.
The deal remains subject to regulatory approval and is expected to be completed in the second quarter of 2013.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
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