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4th of February 2012

Shareholders OK Max & Harbor Point merger

Gavin Bradshaw 10/05/2010

Picture: Marty Becker, Max Capital Group

Max Capital Group (Max) and Harbor Point have announced that their respective shareholders have voted in favour of all proposals necessary to complete a merger of the two companies.

In a statement from Max, the company said completion of the transaction is contingent upon regulatory approvals and ‘certain customary conditions’ and is expected to occur in the second quarter of 2010.

Upon closing, the combined company will be renamed and rebranded as Alterra Capital Holdings Limited (Alterra).

W. Marston (Marty) Becker, chairman and CEO of Max, who will become president and CEO of Alterra said: "We are delighted that both Max and Harbor Point shareholders have recognized the significant benefits of bringing together these two great companies.”

“We believe that Alterra will come out of the gate as a dynamic, financially strong, global company with approximately $3bn of capital and established and profitable insurance and reinsurance underwriting platforms in major markets worldwide.”

John R. Berger, director, CEO and president of Harbor Point, who is to become Alterra’s CEO of Reinsurance said, "With shareholder approvals now received, we are close to making our shared vision for Alterra a reality.”

Tags: Harbor Point, Max Capital Group, Merger, Reinsurance, Underwriting

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