Reinsurance News
Validus Re
Validus Re premiums up 40%. Significant rate increases expected in June: AIG CEO Zaffino
5th May 2023
Validus Re, the Bermuda headquartered global reinsurance arm of American International Group (AIG), grew its gross premiums written by an impressive 40% in the first-quarter of 2023, CEO Peter Zaffino explained today. Speaking during the AIG earnings call today, AIG CEO Zaffino explained that the reinsurance business has been growing strongly, ... Read the full article
AIG to increase Validus Re investment after “compelling” 1/1: CEO Zaffino
17th February 2023
AIG Chairman and Chief Executive Officer (CEO) Peter Zaffino has said that his company plans to “increase investment” in its assumed reinsurance business in 2023, particularly through Validus Re, following a “compelling” January renewal period. Speaking during an earnings call this week, Zaffino noted that AIG via its reinsurance units was ... Read the full article
Validus Re to benefit from improving property cat reinsurance market
1st December 2022
The rapidly improving property catastrophe reinsurance market is a solid opportunity for American International Group (AIG) to more aggressively leverage the capabilities of Validus Re, the firm’s underwriting arm, said AIG CEO Peter Zaffino in conversation with KBW. Zaffino noted that the current property catastrophe reinsurance capacity shortfall, more closely resembles ... Read the full article
Jesse DeCouto promoted to CUO of Validus Re
7th June 2022
Validus Re, the Bermuda headquartered reinsurance underwriting arm of AIG, has a new Chief Underwriting Officer (CUO) in Jesse DeCouto, according to a company memo seen by Reinsurance News. DeCouto, who most recently served as Executive Vice President, Head of Specialty and Credit at Validus Re, will also continue to lead ... Read the full article
Chris Schaper named CEO of AIG’s ILS manager AlphaCat
20th September 2021
Chris Schaper, Chief Executive Officer (CEO) of AIG Re and Validus Re, will assume direct CEO leadership of insurer AIG's insurance-linked securities (ILS) manager, AlphaCat. This appointment aligns all core businesses of AIG's assumed reinsurer directly under the leadership of Schaper. Current CEO of AlphaCat, Paschal Brooks, is set to depart AIG ... Read the full article
Validus Re promotes Wehmeyer to Exec VP, Head of Intl.
4th June 2021
Bermuda-based reinsurer Validus Re has promoted Sven Wehmeyer to serve as executive vice president, head of international. Reporting to Chief Executive Officer Chris Schaper, Wehmeyer succeeds Steve Bardill in the role, who retires later this year. Wehmeyer will maintain his current responsibilities for Validus Re's non-US property reinsurance and overseas offices. He has ... Read the full article
Validus Re now considered “core” to AIG by S&P
27th May 2021
S&P Global Ratings has upgraded the issuer credit and financial strength ratings of Validus Re to reflect a revised view of its group status as core to its ultimate parent, AIG. Since being acquired in July 2018, Validus has been viewed as “highly strategically important” to AIG, but analysts now consider ... Read the full article
Munich Re and Validus lead traditional markets in Citizens’ 2019 renewal
27th June 2019
Details around the successful completion of Citizens Property Insurance Corporation's $1.45 billion 2019 reinsurance renewal reveals that Munich Reinsurance America, Validus Reinsurance, Nephila Capital, and D.E. Shaw Re led the placement. After originally targeting a $1.6 billion reinsurance programme for the 2019 hurricane season, Citizens settled on a slightly smaller reinsurance ... Read the full article
Validus Re CEO, Kean Driscoll joins AIG CUO office
6th June 2019
Insurer and reinsurer AIG has appointed Validus Re Chief Executive Officer (CEO), Kean Driscoll, Global Chief Underwriting Officer (CUO) for Property and Agriculture, General Insurance. At the same time, Alexander Baugh has been named Global CUO for Casualty and Financial Lines, General Insurance. Both appointments are effective immediately, and in these ... Read the full article
Analysts’ commentary suggests AIG / Validus deal is positive, overall
23rd January 2018
Insurance and reinsurance market analysts' comments on AIG's proposed $5.56 billion takeover of Validus Holdings underlines a positive stance on the transaction, with AIG making fundamental changes to its commercial P&C segment and maintaining confidence in previous reserve comments. Following the announcement, AIG management held an investor call, during which ... Read the full article
Retro market to drive top-down rate changes at 1/1, says Validus execs
1st November 2017
The re/insurance industry's heavy reliance on retrocessional capacity will drive a top-down market change for rates across affected business lines, with traditional reinsurers and primary players pushing for rate increases as retro pricing jumps sharply at January renewals, according to Validus Holdings' executives. "As we have described to you in the ... Read the full article
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