Hashtag: #AlterraCapitalHoldings
Alterra Q2 Net Income Declines To $32.6M
Alterra Capital Holdings Limited reported net income of $32.6 million for the second quarter of 2011, a drop from the net income of $103.4 million for the same quarter of 2010. Net operating income for the second quarter of 2011 was $39.6 million, or $0.37 per diluted share, compared to net operating income of $58.8 million, or $0.64 per diluted share,... Read more of this article
Alterra Reinsurance Leadership Changes
Alterra Capital Holdings Limited announced that John Berger, Chief Executive Officer of Reinsurance and a member of Alterra’s Board of Directors, is leaving in order to pursue a new opportunity. Alterra also announced that Thomas C. Wafer, formerly the President of Alterra Reinsurance USA, has been appointed Chief Executive Officer of Reinsurance.... Read more of this article
Alterra: Reduced Collateral Status Approval By NY
Alterra Capital Holdings Limited announced today [July 8] that the State of New York Insurance Department has approved Alterra Bermuda Limited as an eligible reinsurer for reduced collateral status, which allows lower collateral requirements for non-domestic reinsurers that are highly rated and financially secure. Alterra Bermuda will now be able to... Read more of this article
Alterra Estimates Tornado Losses: $18-28m
Bermuda-based Alterra Capital Holdings Limited today [June 21] announced that its initial loss estimate from the series of tornadoes and other severe weather that hit large portions of the United States during April and May 2011, as well as the recent flooding along the Mississippi River, is in the range of $18 million to $28 million, pretax and net... Read more of this article
Alterra: Incorporate Reinsurance Co. in Brazil
Bermuda based Alterra Capital Holdings Limited today [May 9] announced that it is planning to apply for a license to incorporate a local reinsurance company in Brazil. W. Marston (Marty) Becker, President and Chief Executive Officer of Alterra, commented: “It has been just over a year since we set up Alterra Latin America, and we are continuing to... Read more of this article
Alterra Capital Ltd. Announces Promotions
Bermuda-based Alterra Capital Holdings Limited today [Apr.19] announced several role changes and promotions which will affect its corporate and reinsurance operations, including the appointments of Greg Richardson as Executive Vice President, Underwriting Strategy and Business Analytics for Alterra, Jed Rhoads as Executive Vice President and Chief Underwriting... Read more of this article
Alterra Japan Estimate: $60 to $100 Million
Alterra Capital Holdings Limited today [Apr.13] announced that its initial loss estimate from the March 11, 2011 Tohoku earthquake and tsunami in Japan is in the range of $60 million to $100 million, pretax and net of reinsurance and reinstatement premiums. This estimate, which is based on an estimated event insured loss of $20 billion to $35 billion,... Read more of this article
Alterra Capital: Formation of New Point IV
Alterra Capital Holdings Limited announced the formation of New Point IV, a sidecar vehicle established to create additional capacity for the property catastrophe collateralized reinsurance marketplace. New Point IV is being sponsored by Alterra in partnership with Stone Point Capital LLC through its private equity fund, Trident V L.P. Each of Alterra... Read more of this article
Alterra Bermuda Receives Florida Approval
Alterra Capital Holdings Limited announced today [Mar.28] that Alterra Bermuda Limited received approval from the State of Florida to qualify as an “Eligible Reinsurer,” which allows lower collateral requirements on non-domestic reinsurers that are highly rated and financially secure. Alterra Bermuda Limited will now be able to post 20... Read more of this article
Alterra Estimates Aussie & NZ Losses
Alterra Capital Holdings Limited yesterday [Mar.17] announced initial loss estimates for three recent natural catastrophe events, which include $5 to $8 million related to the Australian floods in January 2011; $6 to $10 million related to Cyclone Yasi on February 2, 2011; and $15 to $20 million related to the New Zealand earthquake on February 21,... Read more of this article
Alterra: Bermuda’s Company Of The Decade
Bermuda speciality re/insurer Alterra is both a trailblazing company — and in extremely good company. Along with such global industry powerhouses as Finland’s Nokia, Japan’s Toyota and America’s Apple, the firm has today [Mar. 11] been named as Bermuda’s Company of the Decade by a leading business magazine. “World... Read more of this article
President: ‘Profitable Year For Alterra’
Bermuda re/insurer Alterra Capital Holdings Limited yesterday [Feb. 8] reported net income of $79.7 million, or $0.69 per diluted share, for the fourth quarter of 2010, compared to net income of $62.6 million, or $1.08 per diluted share, for the same quarter of 2009. Alterra, formerly known as Max Capital Group Ltd., was formed on May 12, 2010 by the... Read more of this article
Alterra Names Gamble To US Post
Bermuda-based Alterra Capital Holdings Limited today (Dec.7)Â announced the appointment of Daniel G. Gamble as managing director of Alterra USA. W. Marston (Marty) Becker, president and Chief Executive Officer of Alterra, commented: “The addition of Dan Gamble to the Alterra USA team is an important step as we seek to build out the underwriting... Read more of this article
New President of Alterra Bermuda: Andrew Cook
Alterra Capital Holdings Limited announced that Andrew Cook has been appointed President of Alterra Bermuda Limited. W. Marston (Marty) Becker, President and CEO of Alterra, said, “With our integration process nearing completion, Andrew Cook, currently Chief Integration Officer and EVP Business Development, is assuming some additional corporate... Read more of this article
Alterra Capital Combines Bermuda Subsidiaries
Alterra Capital Holdings Limited announced the amalgamation of its Bermuda operating subsidiaries, Alterra Insurance Limited and Harbor Point Re Limited. The newly amalgamated company, which has been renamed Alterra Bermuda Limited, will underwrite both insurance and reinsurance business from its offices in Hamilton, Bermuda. W. Marston (Marty) Becker,... Read more of this article
Alterra Capital Holdings To Start Trading Today
Alterra Capital Holdings Limited began trading this morning [May 13] on the NASDAQ Global Select market under the symbol ALTE and on the Bermuda Stock Exchange under the symbol ALTE.BH. Yesterday they announced the closing of a merger of equals between Max Capital Group Ltd. and Harbor Point Limited to form Alterra. The closing of the merger follows... Read more of this article
