Hashtag: #ValidusHoldingsLtd
Validus Announce Dividend, New Board Member
Validus Holdings has declared a quarterly dividend of $0.30 per common share and $0.30 per common share equivalent for which each outstanding warrant is exercisable. The dividend is payable on June 28, 2013 to shareholders and warrant holders of record on June 14, 2013. The Bermuda-based company also announced that Dr. Therese “Terri” Vaughan,... Read more of this article
New Study On Reinsurance Hubs Released
Research and Markets — a leading international market research and market data firm — on Monday [Apr. 29] announced the addition of the “2020 Foresight Report: Reinsurance Hubs” report to its catalogue of publications. A Research and Markets spokesperson said: “Growing uncertainties in the global economy and the increasing... Read more of this article
A.M. Best Affirms Ratings Of PacRe Ltd.
A.M. Best Co. this week affirmed the financial strength rating of A- [Excellent] and issuer credit ratings of “a-” of Bermuda-based PaCRe Ltd. The outlook for both ratings is stable. The ratings agency said, “The ratings of PaCRe are based on its excellent risk-adjusted capitalization as measured by Best’s Capital Adequacy Ratio [BCAR];... Read more of this article
Validus Donates $35,000 To Beyond Rugby
Bermuda-based re/insurer Validus recently donated $35,000 to the Beyond Rugby Bermuda programme to support the charity’s ongoing work. Jerome Dill of Validus presented the cheque to Beyond Rugby Bermuda, which is a partnership between the Family Center and Bermuda Rugby Football Union. It is intended to engage youth who are considered to be ‘at... Read more of this article
Validus Releases 2012 Loss Triangles
Bermuda-based Validus Holdings, Ltd. announced on Friday [Apr.12] that it has published its 2012 Loss Development Triangles on its website located validusholdings.com under the Investor Relations/Financial Results section. The Triangles provide stakeholders with additional insight into the loss reserves held on Validus’ balance sheet as at December... Read more of this article
Validus Appoints Salam As Chief Risk Officer
Romel Salam has been promoted to Executive Vice President and Group Chief Risk Officer of Validus Holdings, effective April 2, 2013. Mr. Salam has nearly 25 years of industry experience, most recently serving as the Chief Actuary and Chief Risk Officer of Validus Reinsurance, Ltd.. Prior to joining Validus Re in 2010, Mr. Salam was a Senior Vice President... Read more of this article
Validus Ltd Reports Net Income Of $408.4M
Bermuda-based Validus Holdings, Ltd. reported net income available to Validus of $408.4 million, or $3.99 per diluted common share for the year ended December 31, 2012, compared to $21.3 million, or $0.14 per diluted common share, for the year ended December 31, 2011. Net operating income available to Validus for the year ended December 31, 2012 was... Read more of this article
Validus Sues U.S. Government Over Tax Refund
Bermuda-based Validus has sued the US government for collecting tax on retrocession cover that the reinsurer bought outside of the United States, Insurance Insider reports. “The insurer is asking for a full rebate of $435,380 for the 1 percent excise tax and interest it paid on cover it bought from non-American retrocessionaires in 2006,”... Read more of this article
Validus Estimates Sandy Claims At $333.1M
Bermuda-based Validus Holdings today [Dec 21] provided an initial estimate of the net negative financial impact from Hurricane Sandy. Validus expects to record a net negative financial impact from this event, net of reinstatement premiums and reinsurance, retrocessional and other recoveries in the amount of $333.1 million. This amount is apportioned... Read more of this article
Flagstone Reinsurance Delists From The BSX
The Bermuda Stock Exchange [BSX] confirmed the voluntary delisting, from the BSX, of Flagstone Reinsurance Holdings Ltd. On 30 November, 2012, Validus Holdings Ltd., a Bermuda exempt company, completed its acquisition of Flagstone Reinsurance Holdings Ltd., pursuant to an agreement and plan of merger dated 30 August, 2012. Related Stories Flagstone... Read more of this article
Validus Completes Acquisition Of Flagstone Re
Bermuda-based Validus Holdings, Ltd. has completed its acquisition of Flagstone Reinsurance Holdings, S.A. Ed Noonan, Validus’ Chairman and Chief Executive Officer, stated, “The acquisition of Flagstone solidifies our position as one of the largest catastrophe reinsurance underwriters in the world, with a $4 billion shareholder’s equity base.... Read more of this article
Flagstone Shareholders Approve Acquisition
Validus Holdings, Ltd. today announced that, earlier today [Nov 28], at an Extraordinary General Meeting of Shareholders, the shareholders of Flagstone Reinsurance Holdings, S.A. approved all matters required to be approved by Flagstone’s shareholders in order for Validus to acquire Flagstone, with the support of more than 99% of the shares voted... Read more of this article
