Alterra at Lloyd’s Appoints Senior Property Insurance Underwriter

Alterra Capital Holdings Limited ("Alterra”) (NASDAQ: ALTE; BSX: ALTE.BH) today announced the appointment of Mark Abrahams as Property Insurance Underwriting Manager for Syndicate 1400 at Alterra at Lloyd’s Limited.

W. Marston (Marty) Becker, President and Chief Executive Officer of Alterra, commented: "The addition of Mark Abrahams to the Alterra at Lloyd’s team reflects Alterra’s continued strategic commitment to both underwriting discipline and market diversity and expansion. This appointment is a further important step in building out the underwriting capability of the Lloyd’s platform we acquired in November 2008. Over the past couple of years, we have added teams to write International Casualty Treaty Reinsurance, Accident & Health Insurance, and General Aviation, and have also established a reinsurance operation in Rio de Janeiro, Brazil as part of our Alterra Latin America franchise.”

Adam Mullan, Chief Executive Officer of Alterra at Lloyd’s, commented: "We are very pleased that Mark is joining our team at Alterra at Lloyd’s. Mark, who is a seasoned and accomplished underwriter with a wealth of experience in our marketplace, will be responsible for writing a portfolio of Direct and Facultative Property insurance business from Syndicate 1400's box at Lloyd's, complementing the large account, mainly Fortune 1000 Property insurance business written by Alterra in Bermuda and Dublin and the Excess and Surplus Lines Property business written by Alterra Specialty in the USA. The Lloyd’s market is a central hub for global Property risk, and Mark will greatly enhance our ability to grow and diversify our overall group Property portfolio. We are also pleased that Keith Waylett has joined to assist Mark as Property Insurance Account Manager.”

Mark Abrahams has more than 15 years of experience in Property insurance underwriting, most recently as a Senior Property Underwriter for QBE Syndicate 2000. He is an Associate of the Chartered Insurance Institute and has a Bachelor of Arts (Hons) degree from the University of the West of England.

Keith Waylett was also previously employed by QBE Syndicate 2000.

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. Alterra was formed on May 12, 2010 by the merger of Max Capital Group Ltd. and Harbor Point Limited.

Cautionary Note Regarding Forward-Looking Statements

This release may include forward-looking statements that reflect Alterra’s current views with respect to future events and financial performance. 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.