Earnings Reports: Validus Holdings

By | February 3, 2012

Q4 2011 Q4 2010
Gross premiums written -$278.28 mn $258.7 mn
Full year – 2011 2010
$2.1247 bn $1.99 bn
Net premiums earned — $488.35 mn $432.8 mn
Full year – 2011 2010
$1.802 bn $1.761 bn
Net income ———— $27.324 mn $102.687 mn
Full year – 2011 2010
$21.329 mn $402.564 mn
Net operating income* —— $31.077 mn $156.35mn
Full year 2011 2010
$74.138 mn $322.763 mn
Q4 2011 Q4 2010
Net realized gain/loss —- $5.355 mn ($14.399 mn)
Full year 2011 2010
$28.532 mn $32.498 mn
Net investment income —- $28.08 mn $30.962 mn
Full year 2011 2010
$112.296 mn $134.103 mn

Q4 Combined ratio – 97.4 percent (67.7 percent in Q4 2010);
Full year – 99.4 percent (2010 – 86.2 percent)
* includes tax benefit

Chairman and CEO Ed Noonan commented: “Insured losses arising from natural catastrophes and man-made disasters were approximately $108 billion in 2011. This was the second worst year on record after 2005, the year of our formation.

“Despite these significant market losses, Validus was profitable in 2011 which continues our Company’s record of profitability in each year of our operations despite heavy insured loss activity and financial market turbulence over the period. Since formation, our Company has grown diluted book value per share plus accumulated dividends at an annual compounded rate of 13.3 percent. I am satisfied with this outcome which is the result of world class underwriting, risk, financial and operational management throughout our global businesses.”

The complete report, details on accessing the company’s earnings conference call and other information may be found on its web site.

Source: Validus Holdings

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