NEW YORK, March 3 Max Capital Group Ltd
MXGL.O is expected to merge with reinsurer Harbor Point Ltd
in a deal that would create a company with $3.5 billion in book
value, a source familiar with the matter said on Wednesday.
A deal between the two Bermuda-based companies is expected
to be announced later on Wednesday, the source said, requesting
anonymity because the agreement is not yet public.
Harbor Point had a book value of about $1.63 billion, the
Max Capital, a specialty insurer and reinsurer, and Harbor
Point were not immediately available for comment.
(Reporting by Paritosh Bansal; Editing by Lisa Von Ahn)
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