Validus Holdings News

Validus Reports $173.4M Q1 Net Income, Up From $162.4M in Q1 2014

Bermuda-based Validus Holdings Ltd. reported net income available to Validus of $173.4 million, or $1.98 per diluted common share, for the three months ended March 31, 2015, compared to $162.4 million, or $1.66 per diluted common share, for the three …

Validus Holdings Promotes 3 Underwriting Execs in Bermuda

Validus Reinsurance, Ltd., a wholly owned subsidiary of Validus Holdings, Ltd. has announced a number of underwriting promotions in its Bermuda office, “strengthening the capabilities and breadth of its global reinsurance team.” The promotions were detailed as follows: — Chris …

XL’s McGavick Says Defectors May Find More Turmoil at New Jobs

XL Group plc Chief Executive Officer Mike McGavick said employees who are worried about disruption from his company’s planned purchase of Catlin Group Ltd. should think twice about jumping ship. Other reinsurance deals, including last month’s agreement by AXIS Capital Holdings …

Validus Holdings Reports Net Income of $481.3 Million for 2014

Bermuda-based Validus Holdings Ltd. reported net income available to Validus of $125.9 million, or $1.38 per diluted common share, for the three months ended December 31, 2014, compared to $95.3 million, or $0.93 per diluted common share, for the three months …

Validus Holdings Completes Acquisition of Western World

Bermuda-based Validus Holdings, Ltd. announced that it has completed its acquisition of Western World Insurance Group, Inc.; which it noted “is a specialty lines insurance company with a 50 year track record of profitability and is a pioneer in the …

Validus Reports $153.4 Million Q2 Net Income; $315.8 Million 1st Six Months

Bermuda-based Validus Holdings, Ltd. reported net income available to Validus of $153.4 million, or $1.61 per diluted common share, for the three months ended June 30, 2014, compared to $30.7 million, or $0.28 per diluted common share, for the three …

Validus to Buy Western World Insurance for $690M

Validus Holdings said it has agreed to acquire specialty insurer Western World Insurance Group for $690 million in a deal that leaves the management team and brand of the specialty insurer intact. Under the deal terms, Western World’s owners will …

Ratings Recap: AEGIS, Lloyd’s Syndicate 1225, PaCRe

A.M. Best has upgraded the financial strength rating to ‘A’ (Excellent) from ‘A-‘ (Excellent) and the issuer credit rating to “a” from “a-” of Bermuda-based Associated Electric & Gas Insurance Services Limited (AEGIS), and has revised its outlook on both …

Validus Reports Q1 Net Income of $162.4 million

Bermuda-based Validus Holdings, Ltd. Reported net income available to Validus for the three months ended March 31, 2014 of $162.4 million, or $1.66 per diluted common share, compared to $223.2 million, or $1.90 per diluted common share, for the three …

Best Affirms Validus Re Swiss, Bermuda & Holdings Ratings; Outlook Stable

A.M. Best has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating (ICR) of “a” of Validus Reinsurance, Ltd., (Validus Re – Bermuda) and Validus Reinsurance (Switzerland) Ltd. (VRS), as well as the ICR of “bbb” and …