ALTERRA CAPITAL HOLDINGS Ltd - FORM 10-K - EX-12.1 - COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - February 16, 2010

Attached files

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10-K - FORM 10-K - ALTERRA CAPITAL HOLDINGS Ltdd10k.htm
EX-23.1 - CONSENT OF KPMG - ALTERRA CAPITAL HOLDINGS Ltddex231.htm
EX-21.1 - SCHEDULE OF GROUP COMPANIES - ALTERRA CAPITAL HOLDINGS Ltddex211.htm
EX-10.19 - FORMS OF EMPLOYEE RESTRICTED STOCK AGREEMENTS - ALTERRA CAPITAL HOLDINGS Ltddex1019.htm
EX-10.36 - DISCRETIONARY INVESTMENT MANAGEMENT AGREEMENT, DATED JANUARY 28, 2008 - ALTERRA CAPITAL HOLDINGS Ltddex1036.htm
EX-10.34 - INVESTMENT MANAGEMENT AGREEMENT, DATED AS OF APRIL 8, 2009 - ALTERRA CAPITAL HOLDINGS Ltddex1034.htm
EX-10.30 - INSURANCE MANAGEMENT AGREEMENT, DATED AS OF MAY 10, 2001 - ALTERRA CAPITAL HOLDINGS Ltddex1030.htm
EX-10.33 - INVESTMENT MANAGEMENT AGREEMENT, DATED AS OF OCTOBER 31, 2008 - ALTERRA CAPITAL HOLDINGS Ltddex1033.htm
EX-10.20 - FORMS OF EMPLOYEE RESTRICTED STOCK UNIT AGREEMENTS - ALTERRA CAPITAL HOLDINGS Ltddex1020.htm
EX-10.35 - INVESTMENT MANAGEMENT AGREEMENT, DATED AS OF JULY 20, 2009 - ALTERRA CAPITAL HOLDINGS Ltddex1035.htm
EX-10.37 - DISCRETIONARY INVESTMENT MANAGEMENT AGREEMENT, DATED JUNE 5, 2009 - ALTERRA CAPITAL HOLDINGS Ltddex1037.htm
EX-10.32 - PORTFOLIO MANAGEMENT AGREEMENT, DATED JUNE 24, 2003 - ALTERRA CAPITAL HOLDINGS Ltddex1032.htm
EX-10.21 - FORM OF OPTION AGREEMENT - ALTERRA CAPITAL HOLDINGS Ltddex1021.htm
EX-10.31 - INVESTMENT MANAGEMENT AGREEMENT, DATED AS OF JUNE 26, 2003 - ALTERRA CAPITAL HOLDINGS Ltddex1031.htm
EX-32.1 - CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER PURSUANT TO SECTION 906 - ALTERRA CAPITAL HOLDINGS Ltddex321.htm
EX-31.1 - CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER PURSUANT TO SECTION 302 - ALTERRA CAPITAL HOLDINGS Ltddex311.htm
EX-31.2 - CERTIFICATION OF THE CHIEF FINANCIAL OFFICER PURSUANT TO SECTION 302 - ALTERRA CAPITAL HOLDINGS Ltddex312.htm
EX-32.2 - CERTIFICATION OF THE CHIEF FINANCIAL OFFICER PURSUANT TO SECTION 906 - ALTERRA CAPITAL HOLDINGS Ltddex322.htm

Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

(in thousands of U.S. dollars,
except ratios)

    Year End
December 31,
2009		    Year End
December 31,
2008		     Year End
December 31,
2007		    Year End
December 31,
2006		    Year End
December 31,
2005

Earnings:

              

Pre-tax income (loss)

    $ 246,215    $ (174,086 )    $ 302,827    $ 217,988    $ 10,477

Fixed charges

      23,260      37,462        43,562      14,503      23,235
                                   

Total Earnings (Loss)

    $ 269,475    $ (136,624 )    $ 346,389    $ 232,491    $ 33,712
                                   

Fixed Charges:

              

Interest and amortization on indebtedness

    $ 21,453    $ 36,143      $ 42,702    $ 13,832    $ 22,764

Rental expense at 33.3%(1)

      1,807      1,319        860      671      471
                                   

Total Fixed Charges

    $ 23,260    $ 37,462      $ 43,562    $ 14,503    $ 23,235
                                   

Ratio of Earnings to Fixed Charges

      11.6      (3.7 )      8.0      16.0      1.5
                                   

Deficiency

      N/A    $ 174,086        N/A      N/A      N/A
                                   

 

(1) 33.3% represents a reasonable approximation of the interest factor

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