Bermuda-based Alterra Specialty, Alterra’s US specialty operation, has opened a new facility to underwrite excess casualty coverage.
The facility is led by Alterra Speciality’s senior vice president, Joe Rainone and offers both admitted and non-admitted policies using the facilities of Alterra America Insurance Company and Alterra Excess & Surplus Insurance Company.
Marty Becker, president and CEO of Alterra, said: "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 US."
"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," he continued.
The team will operate from Alterra Specialty's office in Atlanta.