Reinsurance News
Validus
RenaissanceRe completes $3.3bn acquisition of Validus Re from AIG
1st November 2023
Bermuda-based reinsurer RenaissanceRe has completed its previously announced acquisition of Validus Re, the treaty reinsurance operation of global insurer AIG, a transaction it says creates immediate and long-term value for its shareholders. First announced back in May and approved by the European Commission in August, RenRe has now closed ... Read the full article
Reinsurer appetite increased amid more stable trading conditions at mid-year renewals: AIG CEO
2nd August 2023
The reinsurance market was more orderly during the key mid-year renewal season and sellers' appetite for more discrete purchases rose somewhat, which helped buyers fill shortfalls experienced at 1/1, according to Peter Zaffino, Chairman and Chief Executive Officer (CEO) of global insurer AIG. Speaking recently during the large primary insurer's Q2 ... Read the full article
IQUW names Ex-Validus CEO Noonan as Independent Non-Exec Director to Bermuda Board
6th June 2023
IQUW, a property, commercial and specialty re/insurer has announced the addition of Edward Noonan, former Chairman and Chief Executive Officer of Validus, to its Bermuda Board as an Independent Non-Executive Director. With over 40 years of experience in the insurance and reinsurance industry, Noonan brings a wealth of knowledge and expertise ... Read the full article
RenRe’s GPW poised to expand by 30% to $12bn following Validus Re acquisition
23rd May 2023
Bermuda-based RenaissanceRe's acquisition of Validus Re is expected to expand the reinsurer's gross premiums written (GPW) by around 30%, resulting in a combined portfolio of almost $12 billion, creating a top-5 global property and casualty (P&C) reinsurer As we wrote previously, RenRe has agreed to acquire Validus and all its ... Read the full article
RenRe acquiring Validus from AIG for $3bn, to become top-5 P&C reinsurer
23rd May 2023
RenaissanceRe, the Bermuda headquartered re/insurer, is aiming to become a top-5 global property and casualty reinsurer with the acquisition of Validus and all its subsidiaries from global player AIG for around $3 billion. RenaissanceRe (RenRe) is set to raise capital to complete this significant acquisition, with an offering of 6.3 million ... Read the full article
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
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
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
Talbot founder Rupert Atkin steps down as Non-Exec Chairman
8th May 2019
David Batchelor has been appointed Non-Executive Chairman of Talbot Group, the Lloyd's of London re/insurer acquired by AIG through its acquisition of Validus Holdings in 2018. The appointment is effective after the receipt of regulatory and Lloyd's approval. Batchelor, formerly of broker Marsh, replaces Talbot founder Rupert Atkin, who steps down ... Read the full article
Validus eyes expansion into Canadian reinsurance market
13th March 2019
Validus Reinsurance Ltd., the Bermuda-based reinsurer whose parent company was acquired by AIG for $5.56 billion last year, intends to open a new branch in Canada, according to notices given in the Canada Gazette. The company plans to file an application with a federal regulator, the Office of the Superintendent of ... Read the full article
AIG completes Validus acquisition
18th July 2018
American International Group, Inc. (AIG) has announced the closing of its $5.56 billion acquisition of Validus Holdings, Ltd. following the receipt of regulatory approvals and approval of Validus shareholders. The deal was first announced on January 22nd, 2018, and sees AIG gain some attractive and diversified franchises, including reinsurer Validus Re, insurance-linked ... Read the full article
Validus launches new Fintech package policy
2nd March 2018
Validus Specialty Underwriting Services, Inc. has announced the launch of a new comprehensive package policy aimed at private U.S Fintech companies. The policy is designed to address Fintech’s complex risk management needs, which Validus claims have thus far been inadequately served by unsuitable policy forms. Cathy Cossu, Validus Specialty’s Senior Vice President ... Read the full article
Validus Specialty expands cyber offering with new standalone solution
8th February 2018
Validus Specialty, the cyber and technology insurance unit of Validus Specialty Underwriting Services, Inc., has released a new cyber solution that focuses on privacy and network protection. Further expanding its cyber insurance offering, Validus Specialty has launched a new standalone cyber insurance solution designed to meet the challenges faced by U.S. ... Read the full article
AIG seeks more strategic acquisitions, to offset Validus profits against deferred tax: Report
24th January 2018
Insurer American International Group (AIG) has not finished looking for other potential acquisitions, following the announcement of its $5.56 billion acquisition of Validus, according to a report. The FT spoke with AIG CEO Brian Duperreault who told the newspaper that he would continue to look at opportunities. "To ... 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