Bermuda-based re/insurer Alterra Capital Holdings Ltd. has hired a former leading executive of American International Group. Douglas Worman, who served as president and CEO of AIG Excess Casualty Group (previously American Home), has been appointed executive vice-president of Alterra and managing director of Alterra Managers USA Ltd.

Marston (Marty) Becker, president and CEO of Alterra, said: "Doug is an important addition to our team. He will not only be responsible for leading and continuing to build Alterra Managers, but we will also utilise his depth of relationships and experience to assist in business development and strategy across our global insurance platforms.

"He had an impressive career within the AIG organisation, excelling as both an underwriter and business leader.

"Buddy Anckner, currently president of Alterra Managers, will be retiring later this year after many years of valuable service to Alterra."

Mr. Worman has almost 20 years of US insurance industry experience. Since 2008, he has been president & CEO of Sharebridge Underwriting Group, a boutique insurance product intermediary firm which principally serves private equity firms and their portfolio companies.