Consolino Named Validus President; Will Continue to Serve as CFO

Bermuda-based Validus Holdings, Ltd. announced that Joseph E. (Jeff) Consolino has been named President of the Company, effective as of November 15, 2010. He replaces George P. Reeth, who has recently announced his intention to step down as President of the Company. Consolino will continue to serve as Validus’ Chief Financial Officer of, the position he has held since 2006.

Chairman and CEO Ed Noonan commented: “Jeff has been an outstanding leader and valued partner in guiding Validus’ successful growth and development over the past five years. In particular, Jeff played important leadership roles in the formation of the company, our acquisition of Talbot Holdings in 2007, which provided us with access to the Lloyd’s insurance market, and IPC Holdings in 2009, which established Validus as a leading Bermuda carrier in the worldwide short-tail reinsurance market. We are delighted to have Jeff as our President.”

Noonan added: “We thank George for his leadership and dedication to Validus since the Company’s formation in 2005, our broad success would not have been possible were it not for George, and we wish him well in his future endeavors.”

Source: Validus Holdings