Alterra Investors Should Oppose KPMG Reappointment, ISS Says
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Alterra Capital Holdings Ltd. investors should reject the insurer’s plan to reappoint KPMG-Bermuda after a government accounting board faulted the auditor’s work, said Institutional Shareholder Services Inc.
The proxy-advisory service joins Glass Lewis & Co. in advising shareholders next month to vote against a proposal by Alterra’s management to keep the Bermuda affiliate of the Big Four accounting firm as the company’s auditor.