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Markel Corp. has completed the takeover of Bermuda-based insurance and reinsurance group Alterra Capital Holdings Ltd., The Royal Gazette reported.
Through this move, Markel has gained Alterra's large reinsurance business, now called Markel Global Reinsurance, and its commercial insurance portfolio, now called Markel Global Insurance. The combination of both the insurers will create a strong company in global specialty insurance, Alan Kirshner, chairman and CEO of Markel, said.