Alterra Specialty, Alterra Capital Holdings Ltd.’s U.S. specialty insurance operation focusing principally on the wholesale distribution segment, has opened a new facility to underwrite Excess Casualty coverage. The facility is led by Joe Rainone, SVP of Alterra Specialty, and offers both admitted and non-admitted policies, using the papers of Alterra America Insurance Co. and Alterra Excess & Surplus Insurance Co., respectively.
"The addition of a dedicated Excess Casualty facility at Alterra Specialty is a further important step in building out the underwriting capability of our Specialty operations, and reflects Alterra's continued strategic commitment to market diversity and prudent expansion within the United States,” said W. Marston (Marty) Becker, president and CEO of Alterra. “We believe Excess Casualty has been an underserved market segment for Alterra. We expect the new facility will enable us to more actively participate in this market and be well positioned to take advantage of opportunities as and when they arise."
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