Validus 2015 Third Quarter Net Income: $66.7M
Bermuda-based Validus Holdings, Ltd. reported net income available to Validus of $66.7 million, or $0.78 per diluted common share, for the three months ended September 30, 2015, compared to $39.7 million, or $0.41 per diluted common share, for the three months ended September 30, 2014.
Net income available to Validus was $304.1 million, or $3.50 per diluted common share, for the nine months ended September 30, 2015, compared to $355.4 million, or $3.70 per diluted common share, for the nine months ended September 30, 2014.
Net operating income available to Validus was $73.6 million, or $0.86 per diluted common share, for the three months ended September 30, 2015, compared to $84.9 million, or $0.90 per diluted common share, for the three months ended September 30, 2014.
Net operating income available to Validus was $304.8 million, or $3.51 per diluted common share, for the nine months ended September 30, 2015, compared to $357.4 million, or $3.73 per diluted common share, for the nine months ended September 30, 2014.
Book value per diluted common share at September 30, 2015 was $41.89, reflecting quarterly growth of 1.9% inclusive of dividends.
Commenting on the financial results for the three months ended September 30, 2015, Validus’ Chairman and CEO Ed Noonan stated, “Validus delivered 1.9% growth in book value per diluted share inclusive of dividends during the quarter, a meaningful accomplishment given the significant investment market volatility and loss activity including the Tianjin, China industrial explosion and earthquake in Chile.
“Validus continues to benefit from our core principles of strong underwriting and analytical discipline and a rock solid balance sheet, foundations which serve us well as we continue our evolution as a global provider of insurance and reinsurance.”
