Validus Holdings News

Chubb Estimates Q2 Cat Losses to Rise 54% from Q1 2016

Property and casualty insurer Chubb Ltd. estimated natural catastrophe losses for the second quarter to be about 54 percent higher than the first quarter, indicating another quarter of high losses due to natural disasters for insurers. Multiple weather events in …

Aquiline Capital to Buy UK’s Simply Business, an Online Small Business Brokerage

New York-based private equity firm Aquiline Capital Partners LLC on Monday entered into a definitive agreement to acquire Simply Business, an online brokerage service, which delivers tailored small business insurance policies in the United Kingdom. “Simply Business is an innovator in the …

Talbot & Markel Offer D&O Facility in MEA Region with Per-Risk Capacity of $30M

Talbot Underwriting Ltd., a wholly owned subsidiary of Validus Holdings Ltd., has joined forces with specialist insurer Markel International to provide a facility for directors and officers risks in the Middle East and Africa (MEA) marketplace. Offered through Lloyd’s Dubai, …

Validus Appoints Halsey Vice President, Atlanta Property Manager

Validus Holdings, Ltd., has appointed Rob Halsey as vice president, Atlanta Property manager. In this new position, Halsey will be responsible for building and maintaining the Validus Underwriters Excess & Surplus property business in the Southeast United States and write …

Paulson’s PaCRe Shuts Down After Investment Slump, Bermuda Tax Uncertainties

Billionaire John Paulson’s New York hedge fund firm has shut an operation in Bermuda that had been targeted by a Democratic lawmaker as a tax shelter. Paulson’s venture, a reinsurer named PaCRe Ltd., has stopped writing new coverage, and its insurance …

Validus Announces Senior Executive Appointments at Talbot Underwriting

Validus Holdings announced a series of senior management appointments at Talbot Underwriting Ltd., its wholly owned subsidiary. Rupert Atkin will retire as chief executive officer of Talbot on Feb. 29, 2016. Peter Bilsby, currently managing director of Talbot, will succeed …

Validus Reports $22 Million Hike in 3rd Quarter Net Income to $66.7 Million

Validus Holdings Ltd. reported net income of $66.7 million, or $0.78 per diluted common share, for the third quarter ended Sept. 30, 2015, compared to $39.7 million, or $0.41 per diluted common share, for the same period last year. For …

Talbot Australia Appoints Crisis Management Underwriting Team

Talbot Underwriting Australia, the Sydney-based branch of Talbot Risk Services Pte Ltd., has established a crisis management practice with the appointment of two leading underwriters to drive growth in specialty lines in the Australasian region. Steve Ward and Hamish McKay …

Swiss Re Estimates Its Tianjin Port Explosion Losses Will Hit $250 Million

Swiss Re AG, the world’s second-largest reinsurer, posted a 13 percent increase in third-quarter profit after allowing for $250 million in losses from the chemical warehouse explosions in the Chinese city of Tianjin in mid- August. Net income climbed $1.4 …

Validus Group Appoints Zhou as China Representative

Validus Holdings Ltd. has appointed Ellie Zhou as underwriting manager for Greater China to support the Validus Groups’ existing Chinese customers and expand the firm’s business in the region. China is one of the world’s largest and fastest-growing insurance markets …