Validus Reports $481.M Net Income For 2014
Bermuda-based Validus Holdings, Ltd. today [Jan 29] reported net income available to Validus of $125.9 million, or $1.38 per diluted common share, for the three months ended December 31, 2014, compared to $95.3 million, or $0.93 per diluted common share, for the three months ended December 31, 2013.
Net income available to Validus was $481.3 million, or $5.08 per diluted common share, for the year ended December 31, 2014, compared to $532.7 million, or $4.94 per diluted common share, for the year ended December 31, 2013.
Net operating income available to Validus was $129.0 million, or $1.42 per diluted common share, for the three months ended December 31, 2014, compared to $100.1 million, or $0.97 per diluted common share, for the three months ended December 31, 2013.
Net operating income available to Validus was $486.5 million, or $5.14 per diluted common share, for the year ended December 31, 2014, compared to $589.4 million, or $5.48 per diluted common share, for the year ended December 31, 2013.
Book value per diluted common share stands at $39.66, reflecting quarterly growth of 3.3% inclusive of dividends.
Validus’ Chairman and CEO Ed Noonan stated, “During 2014, Validus delivered an impressive 13.2% operating return on average equity and 12.8% growth in book value per diluted share inclusive of dividends. We also completed an important strategic objective by acquiring Western World Insurance Group, a leading specialty lines insurance company.
“The addition of Western World provides Validus with a top notch underwriting and distribution platform in the United States, the world’s largest insurance market, to complement our Bermuda, London and other global operations.”
