Alterra Capital Holdings Limited (“Alterra”) (NASDAQ: ALTE; BSX: ALTE.BH) today announced that Adam Mullan has been appointed Chief Executive Officer of Global Reinsurance and Thomas C. (Tom) Wafer has been appointed Chairman of Global Reinsurance. Adam Mullan will continue in his role as Chief Executive Officer of Alterra at Lloyd’s, which already includes oversight of Alterra’s Latin American reinsurance operations. Additional promotions within Alterra’s Reinsurance leadership team include Jed Rhoads to President and Chief Underwriting Officer of Bermuda Reinsurance and David Kalainoff to President and Chief Underwriting Officer of US Reinsurance. Jed and David will continue in their roles as Global Practice Group Leaders for Property Catastrophe Reinsurance and Casualty Reinsurance, respectively. Rounding out Alterra’s Reinsurance leadership team are: Matthew Petzold, Underwriting Director of Alterra at Lloyd’s; Trevor Carvey, Chief Underwriting Officer, Reinsurance of Alterra Europe; Carlos Caputo, Chief Executive Officer of Alterra Latin America; and Sonia Galvis, Chief Underwriting Officer of Alterra Latin America. W. Marston (Marty) Becker, President and Chief Executive Officer of Alterra, commented: “We have made several strategic enhancements to our global reinsurance leadership team in order to better serve our clients and broker partners. The moves are designed to leverage the strong local leadership and deep underwriting talent we have in each of our reinsurance platforms, while providing more coordinated global leadership and market outreach. Reinsurance today is a global product and we want to ensure that Alterra has a coordinated global approach to this business. “Adam, a 25-year industry veteran, will now have CEO responsibility for all of our reinsurance operations worldwide. Tom brings his successful 30-year track record to the position of Chairman of Global Reinsurance and will complement Adam’s initiatives by concentrating on global strategy, marketing, client and broker relationships, and business development. “At the local level, we are particularly pleased to appoint Jed and David as Presidents and Chief Underwriting Officers of Bermuda and US Reinsurance, respectively. Both have exemplary track records of underwriting profitability and effective management with Alterra and in prior positions. Their leadership, along with the balance of our global leadership, positions Alterra extremely well for the future.”
Alterra Capital Holdings (Nasdaq:ALTE) hit a new 52-week high Tuesday as it is currently trading at $31.48, above its previous 52-week high of $31.46 with 221,161 shares traded as of 3:21 p.m. ET. Average volume has been 958,500 shares over the past 30 days.
The ex-dividend date for Alterra Capital Holdings (Nasdaq:ALTE) is tomorrow, May 18, 2012. Owners of shares as of market close today will be eligible for a dividend of 14 cents per share. At a price of $23.29 as of 9:31 a.m., the dividend yield is 2.4%.