Under a Board-approved share repurchase authorization, Alterra repurchased 2,065,877 common shares during the first quarter of 2012 at an average price of $23.56 per share for a total of $48.7 million. As of March 31, 2012, $205.7 million remained under the Board-approved share repurchase authorization.Shareholders’ equity was $2,851.3 million as of March 31, 2012, an increase of 1.5% from December 31, 2011. Diluted book value per share as of March 31, 2012 was $27.67. Including dividends declared, diluted book value per share growth for the first quarter of 2012 was 3.3%, and was 11.3% for the twelve months ended March 31, 2012. Not included in shareholders’ equity as of March 31, 2012 were $144.3 million of unrecognized gains on held-to-maturity securities, which represented $1.40 in unrecognized diluted book value per share.
Alterra Capital Reports First Quarter 2012 Results
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