Markel Corp. says it has completed its $3 billion buy of Alterra Capital Holdings and has added two new business units.
CEO Alan I. Kirshner says joining Markel's existing specialty, wholesale and international units will be Markel Global Reinsurance and Markel Global Insurance, for large commercial accounts.
He says the acquisition 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 that should benefit all our stakeholders.”
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