Alterra Capital Appoints Andrew Cook as President of Alterra Bermuda

Alterra Capital Holdings Limited ("Alterra”) (NASDAQ: ALTE; BSX: ALTE.BH) today announced that Andrew Cook has been appointed President of Alterra Bermuda Limited ("Alterra Bermuda”).

W. Marston (Marty) Becker, President and Chief Executive Officer of Alterra, said, "With our integration process nearing completion, Andrew Cook, currently Chief Integration Officer and EVP Business Development, is assuming some additional corporate responsibilities, including an important leadership role as President of Alterra Bermuda. Andrew is a seasoned professional with a wealth of experience in the insurance and reinsurance markets, and he is expected to make a significant contribution to Alterra’s future success. He will continue to carry two titles -- EVP of Business Development for Alterra and President of Alterra Bermuda.”

Andrew Cook previously served Alterra as EVP, Chief Integration Officer and Global Development Officer. Prior to the merger of Max Capital Group Ltd. and Harbor Point Limited ("Harbor Point”) in May 2010, Andrew was CFO of Harbor Point, and Deputy Chairman, President and CFO of Harbor Point Re Limited. Previously, he was the CFO of AXIS Capital Holdings Limited, SVP and CFO of Mutual Risk Management Limited, and SVP and CFO of LaSalle Re Holdings Limited. Andrew graduated with a BA from The University of Western Ontario in 1983, and is a Member of the Canadian Institute of Chartered Accountants.

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.