HAMILTON, Bermuda--(BUSINESS WIRE)--Jun. 20, 2012--
Alterra Capital Holdings Limited (“Alterra”) (NASDAQ: ALTE; BSX:
ALTE.BH) today announced the formation of New Point V Limited, an
addition to its series of sidecar vehicles that has been established to
create additional capacity for the property catastrophe collateralized
reinsurance marketplace.
New Point V is again being sponsored by Alterra in partnership with
Stone Point Capital LLC (“Stone Point”) through its private equity fund,
Trident V, L.P. and its affiliates. New Point V currently has capital
commitments from its sponsors and additional investors of approximately
$210 million.
Marty Becker, President and Chief Executive Officer of Alterra stated:
“We are pleased to continue our support of the collateralized
retrocessional market with New Point V and are glad to be partnering
again with industry experts like Stone Point. With New Point V, we
believe we remain well positioned to serve our clients’ needs as they
seek property catastrophe reinsurance.”
About Alterra Capital Holdings Limited
Alterra Capital Holdings Limited is a global enterprise dedicated to
providing diversified specialty insurance and reinsurance products to
corporations, public entities, and property and casualty insurers.
About Stone Point Capital
Stone Point Capital is a global private equity company with more than
twenty years of private equity experience. Stone Point serves as the
manager of the Trident Funds, which have raised more than $9 billion in
committed capital to make investments in the financial services sector,
and has a long and successful history of sponsoring the formation of
insurance and reinsurance businesses.
Source: Alterra Capital Holdings Limited
Alterra Capital Holdings Limited
Susan Spivak Bernstein,
1-212-898-6640
Senior Vice President
susan.spivak@alterra-bm.com
or
Kekst
and Company
Melissa Sheer or Peter Hill, 1-212-521-4800
melissa-sheer@kekst.com
/ peter-hill@kekst.com
