Alterra Capital Consolidates Bermuda Operations
September 07, 2010 09:40 AM Eastern Daylight Time
HAMILTON, Bermuda--(EON: Enhanced Online News)--Alterra Capital Holdings Limited (NASDAQ: ALTE;
BSX: ALTE.BH) (Alterra) announced today the amalgamation of its Bermuda operating subsidiaries, Alterra
Insurance Limited (Alterra Insurance) and Harbor Point Re Limited (Harbor Point Re). The newly amalgamated
company, which has been renamed Alterra Bermuda Limited (Alterra Bermuda), will underwrite both insurance and
reinsurance business from its offices in Hamilton, Bermuda.
W. Marston (Marty) Becker, President and Chief Executive Officer of Alterra, said, “The amalgamation of Alterra
Insurance and Harbor Point Re to form Alterra Bermuda has produced a Bermuda underwriting company with $2.3
billion of shareholders’ equity, based on pro-forma numbers at June 30, 2010. This enhanced scale is expected to
provide superior security and improved efficiencies for our business partners, who will continue to be served by our
existing insurance and reinsurance underwriting teams. We believe that the streamlining of our corporate structure is
an important step towards maximizing the value of Alterra for the benefit of all stakeholders.”
Alterra Capital Holdings Limited is a global enterprise dedicated to providing diversified specialty insurance and
reinsurance products to corporations, public entities, property and casualty insurers, and life and health insurers.
Alterra was formed on May 12, 2010 by the merger of Max Capital Group Ltd. and Harbor Point Limited.
Cautionary Note Regarding Forward-Looking Statements
This release may include forward-looking statements that reflect Alterra’s current views with respect to future events
and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could
cause actual results to differ materially from those suggested by such statements. For further information regarding
cautionary statements and factors affe