Validus Appoints 2 Executives for Reinsurance Business

Bermuda-based Validus Holdings, Ltd. announced that Conan M. Ward has been appointed Chief Executive Officer of Validus’ wholly-owned subsidiary Validus Reinsurance, Ltd. and Kean D. Driscoll has been appointed Chief Underwriting Officer of Validus Re. Both men take up their new posts effective immediately, subject to approval by the Bermuda Department of Immigration.

Validus’ Chairman and CEO Ed Noonan, who held the position of CEO of Validus Re prior to Ward’s appointment, praised their abilities and indicated that they are “talented executives who have been instrumental in building the Validus franchise. We look forward to their continued contributions and leadership as we grow our business and take advantage of the attractive conditions in the short-tail reinsurance market.”

Ward previously served as Executive Vice President and Chief Underwriting Officer of Validus Re since January 2006. He has over 17 years of insurance industry experience. Prior to joining Validus Re, Ward was Executive Vice President of the Global Reinsurance division of Axis Capital Holdings. He was one of the founders of Axis Specialty, Ltd. and was a member of the operating board and senior management committee of Axis Capital.

Driscoll previously served as Executive Vice President of Validus Re responsible for the North American property catastrophe reinsurance business. He has been with Validus Re since it was formed in December 2005. Driscoll has over 14 years of experience in the reinsurance industry, and was previously with Quanta Re and Zurich Re N.A. (Converium).

Source: Validus Holdings – www.validusre.bm