Hashtag: #ValidusHoldingsLtd
Validus Announces Transatlantic Merger Proposal
Bermuda based Validus Holdings Ltd., Tuesday [July 12] announced that it has delivered to the Board of Directors of Transatlantic Holdings, Inc. a proposal to merge the businesses of Validus and Transatlantic. Pursuant to the proposal, Transatlantic stockholders would receive 1.5564 Validus voting common shares in the merger and $8.00 in cash per share... Read more of this article
Validus Estimates Storms at $55-75 Million
Bermuda based re/insurer Validus Holdings, Ltd. provided an initial estimate of combined losses from two severe storms in the United States which took place during April, 2011 and May, 2011, respectively. The storms, identified as Property Claim Services No. 46 and No. 48, consisted of flooding, hail, tornadoes and wind and took place from April 22,... Read more of this article
Validus Holdings Announces Quarterly Dividend
Bermuda based Validus Holdings, Ltd. announced yesterday [May 4] that its Board of Directors has declared a quarterly dividend of $0.25 per common share and $0.25 per common share equivalent for which each outstanding warrant is exercisable. The dividend is payable on June 30, 2011 to shareholders and warrant holders of record on June 15, 2011. Related... Read more of this article
Report: Validus and Ariel End Merger Talks
Bermuda based re/insurers Validus Holdings Ltd. and Ariel Reinsurance Co. ended merger talks this month after disasters in Japan roiled insurance markets, Bloomberg reported today [Mar.29] The report said, “Validus had been close to an almost $1 billion stock-and- cash deal for Ariel, owned by private-equity firms including Blackstone Group LP... Read more of this article
Validus: Preliminary NZ Losses Estimate
Bermuda reinsurer Validus Holdings, Ltd. today [Feb. 28] said it expects losses from the recent New Zealand earthquake [pictured] to range between $25 and $50 million. On February 22, 2011, an earthquake with a magnitude of 6.3 on the Richter Scale struck the South Island of New Zealand near Christchurch causing significant loss of life and damage... Read more of this article
Validus Profit Hit By Australian Floods
Bermuda-based Validus Holdings, Ltd. yesterday [Feb. 10] reported net income of $102.7 million, or $0.92 per diluted common share for the three months ended December 31, 2010, compared with net income of $165.8 million, or $1.23 per diluted common share, for the three months ended December 31, 2009. Net income for the year ended December 31, 2010 was... Read more of this article
Validus: Increase in Common Share Repurchase
Validus Holdings, Ltd. announced today [Dec 20] that the Board of Directors have authorized the return of an additional $400 million to shareholders. This amount is in addition to the $929.2 million of common shares which, as of December 23, 2010, will have been repurchased under Validus’s previously authorized share repurchase program. Validus... Read more of this article
Validus Re: Net Income $179 Million
Bermuda-based Validus Holdings, Ltd. reported net income of $179.8 million, or $1.44 per diluted common share for the three months ended June 30, 2010, compared with net income of $137.6 million, or $1.74 per diluted common share, for the three months ended June 30, 2009. Net income for the six months ended June 30, 2010 was $61.4 million, or $0.48... Read more of this article
Bermuda Reinsurer Chile Estimates Hit 2 Billion
The catastrophic earthquake in Chile on Feb 27, 2010 is projected to be the most expensive insured loss in Latin American history, according to analysts at the international broker Cooper Gay. The powerful earthquake registered 8.8 on the Richter Scale and caused significant destruction. NASA reports that the magnitude 8.8 earthquake in Chile may... Read more of this article
Validus: Estimate Losses of $170 – $270 Million
Bermuda based reinsurer Validus Holdings Ltd provided an initial estimate of losses from the recent Chilean Earthquake and European Windstorm Xynthia of $170 million to $270 million, net of reinstatement premiums and reinsurance, retrocessional and other recoveries. Validus Chairman and CEO Ed Noonan said: Based on current estimates, the Chilean Earthquake... Read more of this article
Bermuda Insurers File Opposition to American Bill
The Association of Bermuda Insurers and Reinsurers [ABIR] has filed an opposition to a proposed new American regulation now in Congress. The Bill HR 2555: Homeowners’ Defense Act of 2009 is described as “To ensure the availability and affordability of homeowners’ insurance coverage for catastrophic events”. The ABIR President... Read more of this article
30 Top Speakers at Bermuda Insurance Summit
The Insurance Day Summit will be held on June 15/16 at the Fairmont Hamilton Princess, and already features an extremely impressive array of speakers. There are over thirty of the best business minds in the insurance field scheduled to speak so far… full list below: Albert Benchimol – EVP and Chief Financial Officer, Partner Re Beat Holliger... Read more of this article
