Hashtag: #ValidusHoldingsLtd
Validus Partners With Eagle Ocean America
The Marine & Upstream Energy insurance team of Validus Specialty Underwriting Services, Inc. announced a partnership with Eagle Ocean America, a full-service insurance facility operated by Eagle Ocean Agencies. The partnership allows Eagle Ocean America to offer new hull, liability and ancillary covers to serve U.S. vessel transportation risks. “With... Read more of this article
AlphaCat, Terra Brasis Complete ILS Transaction
AlphaCat Managers Ltd., a wholly owned subsidiary of Validus Holdings, Ltd. and Terra Brasis Resseguros S.A., announced the successful completion of a $5 million private catastrophe bond transaction. The bond issue, named Alpha Terra Validus II, effectively renews the 2017 Terra Brasis Validus I transaction which represented a unique offering of Latin... Read more of this article
Validus Launches Package Policy For Fintech
Validus Specialty Underwriting Services announced a comprehensive package policy specifically designed for private U.S. Fintech companies. “With this innovative product, we’ve eliminated the gaps in coverage for Fintech companies,” said Cathy Cossu, Validus Specialty’s Senior Vice President of Professional Lines. “ “Our unique ‘open... Read more of this article
Validus Declares $0.38 Quarterly Dividend
Bermuda-based Validus Holdings has declared a quarterly cash dividend of $0.38 per common share. The common share dividend is payable on March 29, 2018 to shareholders of record on March 15, 2018. In addition, the Board of Directors has declared cash dividends on the Company’s Series A 5.875% Preferred Shares and Series B 5.800% Preferred Shares... Read more of this article
Validus Launches Standalone Cyber Insurance
The Cyber and Technology insurance group of Validus Specialty Underwriting Services, Inc. further expanded its offering with a standalone cyber insurance product focused on privacy and network protection coverage. The solution will meet the cyber risk challenges faced by U.S. companies with revenue between $150M-$2.5B, and offer comprehensive cyber... Read more of this article
Validus Reports Q4 Net Loss Of $8.7 Million
Bermuda-based Validus Holdings – which recently announced they will be acquired by AIG – reported a net [loss] attributable to Validus common shareholders of $[8.7] million, or $[0.11] per diluted common share, for the three months ended December 31, 2017, compared to net income f $7.8 million, or $0.10 per diluted common share, for the... Read more of this article
Validus Cancels Financial Results Call/Webcast
In light of its definitive agreement to be acquired by American International Group [AIG], Validus is canceling its fourth quarter and year end 2017 conference call and webcast that was previously scheduled for Friday, February 2, 2018. Validus will issue its fourth quarter 2017 results earnings release and related SEC filings as previously scheduled... Read more of this article
Column: ‘Validus & AIG Will Thrive In Bermuda’
[Opinion column written by Brian Duperreault and Ed Noonan] Today we announced that AIG has proposed to acquire Validus. This is an exciting announcement for both companies, and for us personally. For AIG, this is a great step forward in our strategy to grow the company to be a global, profitable leader in the industry. The transaction will bring new... Read more of this article
AIG To Acquire Validus For $5.56 Billion In Cash
[Updated] American International Group will acquire all outstanding common shares of Validus Holdings, with the company saying that “holders of Validus common shares will receive cash consideration of $68.00 per share, for an aggregate transaction value of $5.56 billion, funded by cash on hand.” “Validus is an excellent strategic fit for... Read more of this article
AlphaCat: $3.4B Assets Under Management
Bermuda-based Validus Holdings announced that assets under management at Alphacat Managers, Ltd. were $3.4 billion as of January 1, 2018. This $3.4 billion figure reflects net third party inflows of $714.2 million at January 1, 2018, resulting in total third party assets under management of $3.2 billion. Lixin Zeng, the Global Head of Asset Management... Read more of this article
Validus Holdings Announces Leadership Roles
Bermuda-based Validus Holdings, Ltd. announced the following leadership appointments “designed to enhance the development and execution of its global strategy.” Kean Driscoll – Global Head of Reinsurance, in addition to his roles as President of Validus Holdings, Ltd. and Chief Executive Officer ofValidus Reinsurance, Ltd.; Peter Bilsby... Read more of this article
Validus Estimate $30M Losses From Wildfires
Bermuda-based Validus Holdings, Ltd. provided an initial estimate of Validus’ net losses from the October 2017 California Wildfires and commented on the current U.S. House and Senate tax reform bills. Validus expects the net impact from the October 2017 California Wildfires to be $30.0 million. This estimate is based on Validus’ current evaluation... Read more of this article
Validus Declares $0.38 Quarterly Dividend
Bermuda-based Validus Holdings, Ltd. declared a quarterly cash dividend of $0.38 per common share. The common share dividend is payable on December 29, 2017 to shareholders of record on December 15, 2017. In addition, the Board of Directors has declared cash dividends on the Company’s Series A 5.875% Preferred Shares and Series B 5.800% Preferred... Read more of this article
Validus Reports Q3 Net Loss Of $250.4 Million
Bermuda-based Validus Holdings, Ltd. reported a net [loss] attributable to Validus common shareholders of $[250.4] million, or $[3.17] per diluted common share, for the three months ended September 30, 2017, compared to net income available to Validus common shareholders of $89.8 million, or $1.11 per diluted common share, for the three... Read more of this article
Validus Initial Estimate Of Losses: $378.9M
Bermuda-based Validus Holdings, Ltd. provided an initial estimate of Validus’ net losses from third quarter 2017 loss events. Validus expects to record losses from these events, net of reinsurance, retrocessional recoveries, noncontrolling interest and net impact on premiums earned, in the amount of $378.9 million. As part of the loss evaluation... Read more of this article
Validus Launches Talbot Led $240M PRI Binder
Validus Specialty Underwriting, Inc., a wholly owned subsidiary of Bermuda-based Validus Holdings, Ltd, announced the renewal of its Political Risk Insurance [PRI] binding authority from its New York office, underwritten 100% by various underwriters at Lloyd’s and led by Talbot Underwriting Ltd, Syndicate 1183. “The Talbot-led binding authority... Read more of this article
