Hashtag: #AlterraCapitalHoldings
Alterra: A Good ‘Relative Performance’
Alterra Capital Holdings Limited today [Feb. 9] reported net income of $30.9 million, or $0.30 per diluted share, for the fourth quarter of 2011, compared to net income of $79.7 million, or $0.69 per diluted share, for the same quarter of 2010. Net operating income for the fourth quarter of 2011 was $31.7 million, or $0.30 per diluted share, compared... Read more of this article
Alterra Letter To Shareholders
Marston [Marty] Becker [pictured], president and CEO of Bermuda-based Alterra Capital Holdings Limited, yesterday [Jan.26] issued a letter addressed to Alterra’s shareholders, employees and other stakeholders updating them on the company’s performance and progress in 2011 and its 2012 outlook. The letter, which will be followed on February... Read more of this article
Brazil ‘Protectionism’ Could Hurt Economy
Brazil’s booming economy could be severely affected if a catastrophe occurs due to “protectionist” reinsurance regulation, industry trade groups including the Association of Bermuda Insurers & Reinsurers [ABIR] have warned. In a statement released, earlier this month, representatives from ABIR, the European insurance and reinsurance federation... Read more of this article
Alterrra Q4 Loss Estimate: $50 Million
Bermuda-based Alterra Capital Holdings Limited said it expects to record fourth quarter 2011 losses from catastrophe events of approximately $50 million, including an initial loss estimate from the severe flooding in Thailand during the fourth quarter of approximately $30 million, pretax and net of reinsurance and reinstatement premiums. A statement... Read more of this article
Alterra To Open Brazil Reinsurer
Bermuda’s Alterra Capital Holdings Limited today [Jan.18] announced that the Brazilian insurance and reinsurance regulator, Superintendencia de Seguros Privados [SUSEP], has given final approval for the firm to establish a local reinsurance company. Alterra Re Brasil will be located in Rio De Janeiro and is expected to offer a wide range of reinsurance... Read more of this article
Alterra Upgraded By Zacks Analysts
Bermuda’s Alterra Capital Holdings was upgraded by equities research analysts at JMP Securities to an “outperform” rating in a research note issued to investors yesterday [Dec.8]. Separately, analysts at t Zacks Investment Research upgraded shares of Alterra Capital Holdings from an “underperform” rating to a “neutral” rating in a... Read more of this article
‘Disposable’ Bermuda Sidecars Blasted
Berkshire Hathaway Inc.’s Franklin [Tad] Montross has criticised Wall Street, private-equity firms and some Bermuda operations for creating “disposable” sidecars he claims may not have the backing of their founders in three to five years. “The investment term is obviously out of sync with the duration of the liabilities,” Montross,... Read more of this article
BFIS Hosts Intern Programme Reception
The Bermuda Foundation for Insurance Studies [BFIS] in conjunction with Associate Director of the Katie School of Insurance and Financial Services at Illinois State University [ISU] Debbie Babcock last night [Nov. 29] held a cocktail reception to thank all the people and companies who hosted the BFIS/ISU Intro-To-Insurance Summer Interns Programme.... Read more of this article
S&P Upgrades Alterra Capital Ratings
Standard & Poor’s Ratings Services said this week that it has raised its financial strength rating and counterparty rating on Bermuda-based Alterra Capital Holdings Ltd.’s core companies. The New York-based rating agency cited improved operations following the “successfully completed” merger of Max Capital Group Ltd. and Harbor Point Ltd.... Read more of this article
Island Could Benefit From Cat Bond Boom
Interest in the re/insurance industry’s use of insurance-linked securities to spread its risk of exposure to global catastrophes continues to grow and Bermuda could benefit from this resurgence, business magazine “Financial News” reports today [Nov. 6]. Through insurance-linked securities, insurance risk is transferred in a capital markets... Read more of this article
CEOs: Rate Increases Won’t Off-Set Losses
Investment yields, low interest rates, less-favorable reserves and high catastrophe losses are working together to create a market hardening, according to Bermuda reinsurance and specialty-insurance executives. However, rate increases are not enough to offset losses, according to a report in re/insurance journal “Property Casualty 360″ today... Read more of this article
Alterra Reports Third Quarter 2011 Results
Bermuda ‘s Alterra Capital Holdings Limited yesterday [Nov.1] reported net income of $48.4 million, or $0.46 per diluted share, for the third quarter of 2011, compared to net income of $82.8 million, or $0.70 per diluted share, for the same quarter of 2010. Net operating income for the third quarter of 2011 was $50.1 million, or $0.47 per diluted... Read more of this article
Alterra Merges Irish Companies
Bermuda based Alterra Capital Holdings Limited today [Nov.1] announced the merger of its Irish underwriting companies, Alterra Europe plc (“Alterra Europe”) and Alterra Reinsurance Europe plc. Alterra Europe, the surviving entity, will underwrite business from its head office in Dublin, as well as from its branch offices in London and Zurich. W.... Read more of this article
Analysts Upgrade Alterra From Hold To Buy
Bermuda’s Alterra Capital Holdings has today [Oct.28] been upgraded by TheStreet Ratings from hold to buy. The stock analysts say the company’s strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and solid stock... Read more of this article
Alterra Estimates Q3: $20/30M
Bermuda-based Alterra Capital Holdings Limited today [Oct.12] announced that its initial loss estimate from Hurricane Irene and other catastrophe events that occurred during the third quarter of 2011 is in the range of $20 million to $30 million, pretax and net of reinsurance and reinstatement premiums. Alterra believes that its estimated losses from... Read more of this article
Alterra Appoints Melissa Sturtecky
Alterra Capital Holdings Limited announced the appointment of Melissa Sturtecky as Regional Vice President of Alterra USA. Doug Worman, Chief Executive Officer of Alterra’s US Insurance operations, commented: “We are pleased that Melissa Sturtecky is joining Alterra USA. Melissa is a well-qualified and experienced underwriter with a track... Read more of this article
