Alterra Capital Holdings Limited today announced the renaming of Alterra Managers USA Limited as Alterra Insurance USA Inc. Alterra Insurance USA is a managing general underwriter ("MGU") for Alterra Excess & Surplus Insurance Company and Alterra America Insurance Company, as well as various third party insurance companies, and is Alterra's principal insurance underwriting platform for retail distribution in the US.
Alterra Insurance USA has appointed Douglas (Doug) M. Worman as President & Chief Executive Officer, Michael (Mike) S. Morgan as Chief Operating Officer, and James (Jim) E. Tait as Chief Financial Officer. Doug will also continue to serve as an Executive Vice President of Alterra.
W. Marston (Marty) Becker, President and Chief Executive Officer of Alterra, 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. Doug Worman and his team bring a wealth of experience in the US insurance markets and strong track records. Under their leadership, we believe Alterra Insurance USA is well positioned to contribute to Alterra's ongoing success in the US."
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 Limited, and James C. (Jim) Gray, Executive Vice
President and Chief Underwriting Officer, Professional Liability Insurance of Alterra Bermuda Limited, respectively.
Doug Worman joined Alterra earlier in 2010 as Executive Vice President of Alterra. Doug has approximately twenty years of US insurance industry
experience. From 2008 to 2010 he was President & Chief Executive Officer of Sharebridge Underwriting Group, a boutique insurance product intermediary firm that principally serves private equity firms and their portfolio companies. For a period of approximately sixteen years before that,
Doug held increasingly senior roles within AIG, most recently as President and Chief Executive Officer of AIG Excess Casualty Group. Doug graduated with a Bachelors of Arts degree from Penn State in 1989.
Mike Morgan joined Alterra in 2003 and was previously Senior Vice President - Underwriting Services for Alterra Capital Services USA LLC. Mike served as Senior Vice President - Excess Liability Underwriter for Alterra Bermuda from 2003 to 2009, and he assumed management responsibility for the
Bermuda team in 2006. Prior to joining Alterra, Mike served as an Excess Liability underwriter with XL Capital and American Re-Insurance. Mike graduated Cum Laude from Springfield College in Springfield, MA in 1986, with a Bachelor of Science in Business Management, and he also holds the Associate in Reinsurance designation (ARe).
Jim Tait joined Alterra in 2007 and was previously Executive Vice President of Alterra Capital Services BDA Limited. Prior to joining Alterra, Jim organized and operated a consulting company, and had been employed as an executive officer and board member of several insurance holding companies and their insurance operating subsidiaries. Previously, he was a partner with Coopers & Lybrand. Jim received a Bachelor of Commerce and
Business Administration degree from the University of Alabama and a Juris Doctorate degree from Birmingham School of Law. He is a certified public accountant and member of the Alabama Bar.
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 1