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Alterra Adds More Underwriting Talent To Alterra Switzerland

Alterra Capital Holdings Limited (“Alterra”) (NASDAQ: ALTE; BSX: ALTE.BH) today announced the appointment of Tim Hofmeister as Senior Underwriter for Alterra Switzerland, the Zurich branch office of Lloyd’s Syndicate 1400. Syndicate 1400 is managed by Alterra’s Lloyd’s managing agent, Alterra at Lloyd’s Limited.

Adam Mullan, Chief Executive Officer, Global Reinsurance for Alterra and Chief Executive Officer of Alterra at Lloyd's, commented: "We are very pleased that Tim Hofmeister is joining our team at Alterra Switzerland. Tim is a seasoned and accomplished underwriter with a wealth of experience in the Continental European marketplace. He will be responsible for developing a portfolio of European Casualty reinsurance business from our Zurich office to complement the Casualty portfolio currently being written by Graeme Scott at Alterra at Lloyd’s in London.

“Alterra Switzerland brings local knowledge and Alterra’s reinsurance expertise to our European clients, enabling ready access to the strong financial security provided by Alterra on a worldwide basis. Tim will expand the capabilities of our Swiss team, which will now include six underwriting professionals led by Dirk Turley and Per Hansen. Alterra Switzerland currently writes a diversified reinsurance portfolio of European Property & Casualty business and a global Accident & Health account. We will be looking to broaden its underwriting capabilities further over time.”

Tim Hofmeister formerly served as Managing Director at Torus Insurance (Europe) AG and prior to that held a range of senior underwriting and risk management positions at Glacier Re and GE Frankona. In 1998, Tim graduated from the University of Hamburg with an MBA. He is expected to join Alterra in November 2012.

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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