Validus 2016 First Quarter Net Income: $166.8M
Bermuda-based Validus Holdings, Ltd. reported net income available to Validus of $166.8 million, or $1.98 per diluted common share, for the three months ended March 31, 2016, compared to $173.4 million, or $1.98 per diluted common share, for the three months ended March 31, 2015.
Net operating income available to Validus was $117.4 million, or $1.39 per diluted common share, for the three months ended March 31, 2016, compared to $136.9 million, or $1.56 per diluted common share, for the three months ended March 31, 2015.
Book value per diluted common share at March 31, 2016 was $44.00, reflecting quarterly growth of 4.8% inclusive of dividends.
Commenting on the financial results for the three months ended March 31, 2016, Validus’ Chairman and CEO Ed Noonan stated, “I’m very pleased to report Validus’ strong results for the quarter which were driven by excellent underwriting and investment results.
“Despite competitive conditions in the insurance and reinsurance markets combined with capital markets volatility, Validus generated an 18.1% annualized return on average equity. We continue to build upon existing strengths in our Bermuda and London platforms while positioning our U.S. operations for long term success.”
