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Alterra Appoints Nick Conca As Chief Claims Officer, Insurance

Alterra Capital Holdings Limited (“Alterra”) (NASDAQ: ALTE; BSX: ALTE.BH) today announced the appointment of Nicholas Conca to the newly created position of Chief Claims Officer, Insurance.

W. Marston (Marty) Becker, President and Chief Executive Officer of Alterra, commented: “We are excited that Nick Conca has agreed to join Alterra. Nick is a highly-qualified claims professional with an impressive track record of leading large claims and other teams in a variety of insurance organizations. As we continue to grow Alterra’s insurance operations in the US and elsewhere, we expect that he will be a valuable and important addition to our leadership team. Nick will be tasked with ensuring that we continue to provide a consistently high level of claims service to our insurance policyholders worldwide.”

Nick has more than twenty years of insurance industry experience, including many years of direct or managerial involvement with insurance claims operations. He was most recently Executive Vice President, US Operations for Integro Insurance Brokers, and was previously with Frank Crystal, Liberty International and Reliance National. Nick began his career at the law firm of Wilson Elser Edelman Moskowitz & Dicker, where he served as claims counsel to major insurance companies.

After graduating from Lehigh University with a Bachelor of Science degree in Business Finance, Nick obtained his Juris Doctor from St. John’s University School of Law. He is admitted to practice law in New York and Connecticut.

Nick is expected to join Alterra in November 2012 and will be based in Alterra’s New York office.

About Alterra Capital Holdings Limited

Alterra Capital Holdings Limited is a global enterprise dedicated to providing diversified specialty insurance and reinsurance products to corporations, public entities, and property and casualty insurers.

Cautionary Note Regarding Forward-Looking Statements

This release includes forward-looking statements that reflect Alterra’s current views with respect to future events and financial performance. In particular, statements regarding future rate movements are forward looking statements. 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 affecting Alterra’s future results, please refer to the most recent reports on Form 10-K and Form 10-Q and other documents filed by Alterra with the SEC. Alterra undertakes no obligation to update or revise publicly any forward-looking statement whether as a result of new information, future developments or otherwise.

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