Alterra Announces Promotions And Enhances Global Reinsurance Operations

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 has reinsurance underwriting offices in Bermuda, the US, Dublin, London, Zurich, Rio de Janeiro, Bogotá, Buenos Aries, and Tokyo.

Adam Mullan has been with Alterra since 2000, most recently serving as Chief Executive Officer of Alterra at Lloyd’s Limited. He was previously Managing Director of Alterra Europe and Executive Vice President and Group Chief Underwriting Officer for Property and Specialty Reinsurance. From 1997 to 2000, Adam was Director/Underwriting Manager of ACE European Markets Insurance Limited and ACE European Reinsurance Limited. Between 1992 and 1997, he served as Vice President of Marsh & McLennan Inc., and from 1987 to 1992 he was an Associate Director at Carpenter Bowring (London). Adam received his Bachelor in Business Studies (Hons.) from Trinity College, The University of Dublin.

Tom Wafer has more than thirty years of reinsurance industry experience, most recently serving as Chief Executive Officer, Reinsurance of Alterra and President of Alterra Reinsurance USA. From 2005 to 2009, Tom was Managing Director of International Underwriting for Harbor Point Re Limited and New Point Re Limited in Bermuda. From 1998 to 2005, he was Managing Director International Underwriting and Marketing at Chubb Re, Inc. Previously, Tom held various insurance industry positions, including Managing Director and head of the International Division of Guy Carpenter New York. Tom graduated from Manhattanville College with a BA in Economics and also holds an MBA in Marketing from Fordham University.

Jed Rhoads has more than thirty years of reinsurance industry experience, joining Alterra in 2002 and most recently serving as Executive Vice President and Chief Underwriting Officer, Reinsurance of Alterra Bermuda. Jed has a long and profitable track record in reinsurance underwriting, including leading Harbor Point’s Property Catastrophe and Retro business from the Bermuda office he established in May 2002, as what was then Chubb Re. From 2000 to 2002, Jed served as Chief Underwriting Officer of OPL Ltd. Bermuda, and, from 1999 to 2002, he served as Principal/Underwriter at Stockton Re Bermuda. Previously, Jed was Executive Vice President of Sedgwick Re for fourteen years. He began his career as an underwriter at Kemper Re, having been awarded a Kemper Scholarship while at Beloit College. Jed graduated from Beloit with a BA in Economics and Philosophy.

David Kalainoff has been with Alterra since 2002. Before accepting the role of Chief Underwriting Officer at Alterra Reinsurance USA in 2010, David was Chief Underwriting Officer of Alterra Bermuda. He previously held senior underwriting positions with Transatlantic Reinsurance Company, Fireman’s Fund Insurance Company and Continental Insurance Company. David holds a BS degree in Business from Arizona State University and an MBA from DePaul University.

Matthew Petzold has served as Active Underwriter with Syndicate 1400 since its formation in 1999, and as Underwriting Director of Alterra at Lloyd’s since 2006. He has been a Director of the Company, since 1999. He was an underwriter with Copenhagen Re UK from 1975 to 1998, and was appointed Managing Director in 1996. Matthew is an Associate of the Chartered Insurance Institute and has a degree in Computing Science from the University of Essex.

Trevor Carvey, who established Alterra Europe’s UK office five years ago and was responsible for developing a platform for reinsurance business in the UK and London market, has had a successful reinsurance underwriting career. From 2002 to 2006, Trevor served as a Senior Underwriter at Arch Re Bermuda responsible for the marine and energy and specialty classes, and, prior to that, was Head of Global Marine & Energy insurance and reinsurance business for GE ERC/Frankona.

Carlos Caputo joined Alterra in 2009 as Chief Executive Officer of Alterra Latin America. Carlos has 38 years of underwriting and management experience in Latin America and, in particular, Brazil. Prior to Alterra, he served as Regional Director and Operating Officer for XL Re Latin America Ltd. Carlos was previously deputy chairman of Aon Group Ltd. Brazil and has held senior management positions with Alexander & Alexander Brazil and Cisema. Carlos graduated from the program for Business Development at Harvard Business School and from Belgrano University in Argentina with a degree in Economic Sciences.

Sonia Galvis joined Alterra in 2009 as Chief Underwriting Officer of Alterra Latin America. Sonia has 32 years of insurance and reinsurance underwriting and management experience. Prior to Alterra, she was the Regional Director and Underwriting Officer of the Northern Region for XL Re Latin America Ltd. Previously, Sonia served as CEO of Seguros Alfa and Seguros de Vida Alpha. She has also held various senior management positions at Seguros Colmena Colombia, now Liberty Colombia. Sonia graduated with a J.D. in insurance law from the Universidad Javeriana Bogota, Colombia, and also received an Executive MBA from Inalde, sponsored by the Harvard Business School.

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.

Copyright Business Wire 2010

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