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News Breaks
December 19, 2012
10:01 EDTMKL, PTP, AXS, ALTE, MRH, AWH, VR, ENHAlterra up after deal, analyst positive on Bermuda peers
Insurance company Alterra (ALTE) is rallying after Markel Corporation (MKL), a financial holding company, agreed to buy Alterra for $31 per share in cash and stock, or $3.13B. Each Alterra share will be exchanged for $10 and 0.04315 Markel shares, the companies said. In a note to investors earlier today, Wells Fargo analyst John Hall wrote that the acquisition of Alterra, which is based in Bermuda, should boost the share prices of other Bermuda based companies that are trading significantly below their book values. Allied World (AWH), AXIS Capital (AXS), Endurance Specialty (ENH), Montpelier Re (MRH), Platinum Underwriters (PTP), and Validus (VR) are examples of such companies, the analyst wrote. In early trading, Alterra surged 24.02% to $28.71, Allied World rose 1.89% to $80.15, Endurance Specialty gained 3.01% to $40.69, Montpelier Re added 1.97% to $22.78, Platinum Underwriters climbed 4.16% to $47.06, and Validus increased 1.54% to $34.85.
News For AWH;AXS;ENH;MRH;PTP;VR;ALTE;MKL From The Last 14 Days
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November 25, 2015
16:52 EDTVRValidus to purchase WRM America Indemnity from Aquiline
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November 19, 2015
16:48 EDTMKLMarkel appoints Thomas Gayner and Richard Whitt as Co-CEOs
Markel announced that, effective January 1, 2016, Thomas S. Gayner, President and Chief Investment Officer, and Richard R. Whitt, III, President and Co-COO, will serve as Co-CEOs of the company. In addition, F. Michael Crowley, President and Co-COO, will serve as the sole President of the company as of the same date. Crowley, Gayner and Whitt will continue to report to Alan I. Kirshner, who will serve as the company's Executive Chairman.

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