A.M. Best Co. has affirmed the financial strength rating (FSR) of “A-” (Excellent) and the issuer credit rating (ICR) of “a-” of Validus Reinsurance, Ltd. (Validus Re), as well as the ICR of “bbb-” of Bermuda’s Validus Holdings, Ltd. Best also removed all of the ratings from under review with negative implications and assigned a stable outlook. “These rating actions follow Validus’ closing of the acquisition of Talbot Holdings, which took place on July 2, 2007, as well as Validus’ completion of its capital raising initiatives, which were necessary to support the risk-adjusted capital position of the company, said Best. The Company has raised over $545 million from an initial public offering of common stock and the issuance of hybrid junior subordinated deferrable debentures.
Was this article valuable?
Here are more articles you may enjoy.
Eastern States’ Grocers Shut Online Systems After Cyberattack 
Hordes of Teens on E-Bikes Force Suburbs to Rewrite Road Rules 
All in the Family: Husband, Wife and Daughter Indicted for Insurance Fraud and Bribery 
AI’s Water Strain Includes Surging Demand From Electricity Use 
