AM Best


A.M. Best Withdraws Ratings of Alterra Reinsurance Europe plc


CONTACTS:


Greg Reisner

Senior Financial Analyst

(908) 439-2200, ext. 5224

greg.reisner@ambest.com

Robert DeRose

Vice President

(908) 439-2200, ext. 5453

robert.derose@ambest.com

Carole Lovell

Public Relations Associate

(908) 439-2200, ext. 5445

carole.lovell@ambest.com

Jim Peavy

Assistant Vice President, Public Relations

(908) 439-2200, ext. 5644

james.peavy@ambest.com


FOR IMMEDIATE RELEASE

OLDWICK, N.J. - NOVEMBER 04, 2011 12:00 AM (EDT)
A.M. Best Co. has withdrawn the financial strength rating of A (Excellent) and issuer credit rating of "a" of Alterra Reinsurance Europe plc (Alterra Re Europe) (Ireland), as the company has been merged out of existence.

Previously, Alterra Capital Holdings Limited (Alterra) [NASDAQ: ALTE] announced that Alterra Re Europe had been merged into Alterra Europe plc (Ireland). Going forward Alterra Europe plc will underwrite both insurance and reinsurance business on a single platform, which will allow for greater operational efficiency, among other favorable attributes. Alterra and its other operating subsidiaries' ratings are unaffected by this merger.

The principal methodology used in determining these ratings is Best's Credit Rating Methodology - Global Life and Non-Life Insurance Edition, which provides a comprehensive explanation of A.M. Best's rating process and highlights the different rating criteria employed. Methodologies can be found at www.ambest.com/ratings/methodology.

Founded in 1899, A.M. Best Company is the world's oldest and most authoritative insurance rating and information source.

Related Companies

For information about each company, including the Best's Credit Reports, group members (where applicable) and news stories, click on the company name. An additional purchase may be required.