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Alterra Capital rebrands US unit

Alterra Capital Holdings, a Bermuda-based provider of specialty insurance and reinsurance products for the property and casualty market, has renamed its Alterra Managers USA unit as Alterra Insurance USA.

Alterra Insurance USA is a managing general underwriter (MGU) for Alterra Excess & Surplus Insurance and Alterra America Insurance, as well as various third party insurance companies, and is Alterra’s principal insurance underwriting platform for retail distribution in the US.

In addition, Alterra Insurance USA has appointed Douglas Worman as new president and CEO and he will also continue to serve as an executive vice president of Alterra.

Alterra has also appointed Michael Morgan as chief operating officer and James Tait as chief financial office.

Worman joined Alterra earlier in 2010 as executive vice president of Alterra. He has nearly 20 years of US insurance industry experience. From 2008 to 2010, he was president & CEO of Sharebridge Underwriting Group.

Morgan joined Alterra in 2003 and was previously senior vice president – Underwriting Services for Alterra Capital Services US.

Tait joined Alterra in 2007 and was previously executive vice president of Alterra Capital Services BDA.

Alterra president and CEO Marston Becker said, Alterra Insurance USA focuses on excess liability and professional liability insurance business that complements the business Alterra successfully underwrites in its Bermuda and Dublin platforms. Alterra Insurance USA writes business on an admitted and non-admitted basis serving primarily retail brokers and a wide spectrum of corporate, public sector and other customers.

Alterra’s group-wide excess liability and professional liability insurance businesses are coordinated by practice groups headed by John Boylan, executive vice president, insurance operations and managing director of Alterra Insurance Europe, and James Gray, executive vice president and chief underwriting officer, professional liability insurance of Alterra Bermuda, respectively.