Alterra Capital Holdings Ltd. yesterday announced that Angelo Guagliano, the head of its insurance operation will retire at the end of this month.

Before Alterra was formed through the merger of Max Capital Group and Harbor Point Re this year, Mr. Guagliano was president and chief executive officer of Max Bermuda.

On May 31, he will retire as president and CEO of Alterra Insurance Ltd.

Marston (Marty) Becker, president and CEO of Alterra, said: "On behalf of all of us at Alterra, I want to thank Angelo for his loyal and capable service to the company, and for his leadership in building the Bermuda and Dublin operations of Alterra Insurance since joining our organisation in 2003.

"These businesses have had an impressive track record of underwriting success and today have a broad array of product segments.

"An important part of Angelo's legacy is the strong and talented team of underwriting leaders and professionals who have been working with him and who are well positioned to continue to lead and grow Alterra Insurance's business well into the future.

"Angelo will be missed, but we wish him a long and happy retirement."