Validus: Full Year Net Income of $374.9 Million
Bermuda-based Validus Holdings, Ltd. reported net income available to Validus of $69.0 million, or $0.81 per diluted common share, for the three months ended December 31, 2015, compared to $125.9 million, or $1.38 per diluted common share, for the three months ended December 31, 2014.
Net income available to Validus was $374.9 million, or $4.34 per diluted common share, for the year ended December 31, 2015, compared to $480.0 million, or $5.07 per diluted common share, for the year ended December 31, 2014.
Net operating income available to Validus was $105.4 million, or $1.24 per diluted common share, for the three months ended December 31, 2015, compared to $121.9 million, or $1.34 per diluted common share, for the three months ended December 31, 2014.
Net operating income available to Validus was $409.7 million, or $4.74 per diluted common share, for the year ended December 31, 2015, compared to $480.8 million, or $5.08 per diluted common share, for the year ended December 31, 2014.
Book value per diluted common share at December 31, 2015 was $42.33, reflecting quarterly growth of 1.8% inclusive of dividends.
Validus’ Chairman and CEO Ed Noonan stated, “For the full year 2015, Validus earned $409.7 million in net operating income and generated an 11.3% net operating return on average equity.
“These strong results, despite competitive pressures, reflect the diversification of Validus’ business as we have shifted our mix to 46% insurance and 54% reinsurance during 2015.”
