NEW YORK (Standard&Poor's) May 1, 2013--Standard&Poor's Ratings Services said today that its 'A/Stable/--' financial strength rating on Alterra Capital Holdings Ltd.'s operating companies and its 'BBB+' issue rating on the Alterra intermediate holding-company debt are unaffected by Markel Corp.'s (BBB/Stable/--) recent acquisition of Alterra. Our rating on Markel Corp. is also unaffected by the purchase of Alterra. Our debt rating on Alterra is supported by our standard holding-company notching for Bermuda-based operating insurance companies. If Alterra's corporate structure and/or capital strategy materially deviates from the existing organizational structure, we would review our debt rating on Alterra.
