Alterra Combines Irish Insurance, Reinsurance Cos.

Law360, New York (November 1, 2011, 7:16 PM EDT) -- Global insurance company Alterra Capital Holdings Ltd. has merged its two Irish underwriting companies into a single entity, after Ireland's central bank relaxed its insurance restrictions, Alterra announced Tuesday.

Alterra Europe PLC and Alterra Reinsurance Europe PLC are now a single entity, Alterra Europe, which will underwrite business from a head office in Dublin.

The Central Bank of Ireland had relaxed its restrictions on the writing of reinsurance business by direct insurance companies earlier this year in response to the European Union's Solvency II directive.

Alterra President and CEO W. Marston Becker...
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