Validus First Quarter Net Income: $162.4 Million
Bermuda-based Validus Holdings, Ltd. reported net income available to Validus for the three months ended March 31, 2014 of $162.4 million, or $1.66 per diluted common share, compared to $223.2 million, or $1.90 per diluted common share, for the three months ended March 31, 2013.
Net operating income available to Validus for the three months ended March 31, 2014 was $146.1 million, or $1.49 per diluted common share, compared to $215.6 million, or $1.83 per diluted common share, for the three months ended March 31, 2013.
Commenting on the financial results for the three months ended March 31, 2014, Validus’ Chairman and CEO Ed Noonan stated: “Validus delivered very solid results for the first quarter of 2014.
“The Company had $162.4 million in net income, 4.6% growth in book value per diluted share inclusive of dividends and a 17.7% annualized return on average equity. While there is clearly competition in the (re)insurance industry, Validus’ size, scale and our willingness to share analytical insights with our customers allows us to maintain a preferred position in the marketplace.”
