UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Alterra Capital Holdings Limited
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(Exact name of registrant as specified in its charter)

Not Applicable
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Former name or former address, if changed since last report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01 Other Events.

On January 7, 2011, certain of the Registrant’s subsidiaries (the "HP Borrowers") entered into the Third Amendment to the Credit Agreement (the "HP Credit Third Amendment") with the financial institutions party thereto as lenders (the "HP Lenders") and Bank of America, N.A., as the fronting bank, letter of credit administrator and administrative agent ("Bank of America") to the Amended and Restated Credit Agreement, dated as of June 12, 2007, by and among the HP Borrowers, the HP Lenders and Bank of America, as previously amended.

On January 7, 2011, the Registrant and Alterra Bermuda Limited ("Alterra Bermuda") entered into the Amendment to the Credit Agreement (the "Max Credit Fifth Amendment") with the financial institutions party thereto as lenders (the "Max Lenders") and Bank of America to the Credit Agreement, dated as of August 7, 2007, by and among the Registrant, Alterra Bermuda, the Max Lenders and Bank of America, as previously amended.

Both the HP Credit Third Amendment and the Max Credit Fifth Amendment revise certain reporting requirements of a subsidiary of the Registrant as set forth therein.

The foregoing description of each of the HP Credit Third Amendment and the Max Credit Fifth Amendment do not purport to be complete and are subject to and qualified in their entirety by reference to the HP Credit Third Amendment and Max Credit Fifth Amendment, a copy of which is attached hereto as Exhibit 10.1 and Exhibit 10.2, respectively, and the terms of which are incorporated herein by reference.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Exhibit Index