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Validus Public Offering Of Depositary Shares

Validus Public Offering Of Depositary Shares

Bermuda-based Validus Holdings, Ltd. has priced an underwritten public offering of 10,000,000 depositary shares, each of which represents a 1/1,000th interest in a share of its 5.800% Non-Cumulative Preference Shares, Series B, $0.175 par value and $25,000 liquidation preference per share [equivalent to $25 per depositary share]. Validus intends to... Read more of this article

AlphaCat Appoints Bernard Van der Stichele

AlphaCat Appoints Bernard Van der Stichele

AlphaCat Managers Ltd., a wholly owned subsidiary of Validus Holdings, Ltd. announced the appointment of Bernard Van der Stichele to the position of Portfolio Manager for AlphaCat. In this new role, Bernard will report to Lixin Zeng, Chief Executive Officer of AlphaCat. Bernard Van der Stichele brings over 15 year of institutional investment management... Read more of this article

Driscoll Named President Of Validus Holdings

Driscoll Named President Of Validus Holdings

Validus Holdings, Ltd. announced that Kean Driscoll has been named President of the Company, effective immediately. Mr. Driscoll will continue to serve as the Chief Executive Officer of Validus Reinsurance, Ltd., the position he has held since 2012. Ed Noonan, Chairman and Chief Executive Officer of Validus, said, “Kean has been an outstanding leader... Read more of this article

Validus Completes ADM CRS Acquisition

Validus Completes ADM CRS Acquisition

Bermuda-based Validus Holdings Ltd. has completed its acquisition of Archer Daniels Midland Company’s [ADM] Crop Risk Services business [CRS]. CRS is a primary crop insurance managing general agent based in Decatur, Illinois with $555.0 million gross premiums written in 2016 and 1,170 agents across 36 states. Validus’ Chairman and Chief Executive... Read more of this article

Video: Validus & Bermuda College Partnership

Video: Validus & Bermuda College Partnership

Bermuda College has announced the “success of partnership with Validus Re that has been softly celebrated for approximately two years.” Andy Newton, Vice President, Head of Information Technology at Validus said, “Validus endorses a holistic approach to student development based on practical experience. “With that in mind, our Learning... Read more of this article

Validus Reports Net Income Of $94.6 Million

Validus Reports Net Income Of $94.6 Million

Bermuda-based Validus Holdings, Ltd. reported net income available to Validus common shareholders of $94.6 million, or $1.17 per diluted common share, for the three months ended March 31, 2017, compared to $166.8 million, or $1.98 per diluted common share, for the three months ended March 31, 2016. Net operating income available to Validus common shareholders... Read more of this article

Validus Reports Net Income Of $94.6 Million

Validus Reports Net Income Of $94.6 Million

Bermuda-based Validus Holdings reported net income available to Validus common shareholders of $94.6 million, or $1.17 per diluted common share, for the three months ended March 31, 2017, compared to $166.8 million, or $1.98per diluted common share, for the three months ended March 31, 2016. Net operating income available to Validus common... Read more of this article

A.M. Best Affirms Validus Reinsurance Ratings

A.M. Best Affirms Validus Reinsurance Ratings

A.M. Best has affirmed the Financial Strength Rating [FSR] of A [Excellent] and the Long-Term Issuer Credit Rating [Long-Term ICR] of “a” of Bermuda-based Validus Reinsurance, Ltd. Concurrently, A.M. Best has affirmed the FSRs of A [Excellent] and the Long-Term ICRs of “a” of the following Validus subsidiaries: Western World Insurance Company,... Read more of this article

Validus Donates $45K To St. John Ambulance

Validus Donates $45K To St. John Ambulance

The Validus Group has made a donation of $45,000 to St. John Ambulance Bermuda to support the purchase of an ambulance. Ed Noonan, Validus Chairman and Chief Executive Officer said, “Validus is committed to continuing to help our local community in Bermuda.” “We are honored to be supporting St. John Ambulance Bermuda in their important mission... Read more of this article

Validus Declares $0.38 Quarterly Dividend

Validus Declares $0.38 Quarterly Dividend

Bermuda-based Validus Holdings, Ltd. has increased its quarterly cash dividend to $0.38 per common share from $0.35, an increase of $0.03 or 8.6%. The common share dividend is payable on March 31, 2017 to shareholders of record on March 15, 2017. In addition, the Board of Directors has declared a cash dividend on the Company’s Series A 5.875% Preferred... Read more of this article

AlphaCat & Terra Brasis $5M Bond Transaction

AlphaCat & Terra Brasis $5M Bond Transaction

AlphaCat Managers Ltd., a wholly owned subsidiary of Bermuda-based Validus Holdings and Terra Brasis Resseguros S.A. announced the successful completion of a $5 million private catastrophe bond transaction. The bond issue, named Alpha Terra Validus I, represents a unique offering of Latin American reinsurance risk on an indemnity basis and is the... Read more of this article

Validus Reports 2016 Net Income Of $359.4M

Validus Reports 2016 Net Income Of $359.4M

Bermuda-based Validus Holdings reported net income available to Validus common shareholders of $7.8 million, or $0.10 per diluted common share, for the three months ended December 31, 2016, compared to $69.0 million, or $0.81 per diluted common share, for the three months ended December 31, 2015. Net income available to Validus common shareholders... Read more of this article

Validus To Acquire ADM’s Crop Risk Services

Validus To Acquire ADM’s Crop Risk Services

Bermuda-based Validus Holdings have reached an agreement with Archer Daniels Midland Company for the purchase of ADM’s Crop Risk Services business. The transaction includes a marketing services agreement under which ADM and Validus will work together to continue to offer a full range of insurance and farm products and services to CRS customers. CRS... Read more of this article