Reinsurance News
Validus
Potential for AIG to expand in new business segments after Validus takeover
22nd January 2018
AIG management has discussed the firm's proposed takeover of Validus Holdings during a recent investor call surrounding the deal, underlining the potential for growth in new business segments supported by Validus' experienced leadership. Following the announcement of a proposed $5.56 billion acquisition of Validus by AIG, the latter's Chief Executive ... Read the full article
AIG to acquire Validus Holdings for $5.56 billion
22nd January 2018
It's been announced that American International Group, Inc. (AIG) will acquire all the outstanding common shares of Validus Holdings, Ltd. for an aggregate transaction value of $5.56 billion, in cash. The deal represents progress in AIG's profitable growth strategy, enhancing the firm's general insurance capabilities, while adding a robust reinsurance underwriter ... Read the full article
Validus reveals leadership roles to reflect new reportable segments
8th December 2017
Validus Holdings, Ltd. has revealed a number of new leadership roles in new reportable segments, as it looks to enhance the development and execution of its international strategy. In addition to his roles as President of Validus Holdings, Ltd. and Chief Executive Officer (CEO) of Validus Reinsurance, Ltd., Kean Driscoll has ... Read the full article
Validus reveals $30m California wildfire loss, says tax reforms won’t hurt it
8th December 2017
Validus Holdings, the Bermudian insurance and reinsurance group has revealed an initial estimated net loss from the October California Wildfires of $30 million. Validus said that it's estimate is based on an evaluation of loss affected contracts, as well as information provided by customers and intermediaries. However the company noted that there ... 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
Validus records $412.7m net loss following Q3 catastrophe events
10th October 2017
Validus Holdings, the Bermuda based specialist insurance and reinsurance firm, has revealed an estimate of its losses from third-quarter 2017 catastrophe events, putting its losses at $412.7 million net, or $378.9 million net of impact on premiums earned. The $378.9 million figure is net of reinsurance, retrocessional recoveries, non-controlling interest and ... Read the full article
Validus renews $240 million Talbot-led binding authority for political risk
7th September 2017
Validus Specialty Underwriting has announced the renewal of its Political Risk Insurance (PRI) binding authority which is 100% underwritten by underwriters at Lloyd’s and led by Talbot Underwriting, Syndicate 1183. The binding authority was launched in 2016 in anticipation of further growth, Validus said its capacity has since increased from $125 million ... Read the full article
Troy Fornof joins Western World as Underwriting & Marketing VP
29th August 2017
Troy Fornof is set to join reinsurer Validus Holdings' primary arm Western World Insurance as Underwriting and Marketing Vice President of Contract Division from August 28th. Fornof will work closely with Tim Hochkeppel, Gary Tiepelman and Rosemary D’Aco to oversee the continued expansion of the firm’s Contract Binding Authority business, working from ... Read the full article
Talbot Underwriting adds experienced lawyer to Board of Directors
22nd August 2017
Talbot Underwriting Ltd., a subsidiary of Validus Holdings, has announced the appointment of Monica Burch as Non-Executive Director of its Board of Directors, and Chair of the Risk Committee. Burch is currently a consultant at Addleshaw Goddard LLP, and is also a Non-Executive Director Board Member of the Crown Prosecution Service, ... Read the full article
Validus Re CEO Driscoll named President of Validus Holdings
10th May 2017
Validus Re Chief Executive Officer Kean Driscoll has been named President of the parent company Validus Holdings, Ltd., effective immediately. Driscoll will remain in his CEO role at the reinsurance unit. Driscoll has been CEO of Validus Re since since 2012. With 17 years of reinsurance industry experience, Driscoll was a ... Read the full article
Validus Holdings completes acquisition of Archer Daniels Midland Crop Risk Services
2nd May 2017
Validus Holdings has further diversified its lines of business with the completion of its Archer Daniels Midland Crop Risk Services (CRS) acquisition. CRS is a primary crop insurance managing general agent (MGA) with $555 million gross premiums written in 2016 and 1,170 agents acting across 36 states. Validus’ Chairman and Chief Executive ... Read the full article
Diversification highlighted as key strength for Validus by A.M. Best
10th April 2017
Rating agency A.M. Best has highlighted the importance of diversification, in terms of line of business, primary insurance and reinsurance, and global locations, as a key strength of Validus Group. It's a sign of the increasing importance of diversified business models for global reinsurance firms, as the softened market requires steps ... Read the full article
Validus finds up to 15% of NFIP flood policies attractively priced
9th March 2017
Bermudian insurance and reinsurance company Validus Group has said that after analysing the National Flood Insurance Program's risk profile, the re/insurer deems that it would underwrite as much of 15% of the risk on its own balance-sheet. It's a clear indication that the private insurance and reinsurance market is ready and ... Read the full article
Validus insurance unit Talbot launches terror facilities
9th February 2017
Bermudian re/insurer Validus' insurance unit Talbot has launched three enhanced terror facilities in the Singapore, Latin American and Dubai markets, after seeing growing global demand for terror coverage. The Facilities offer a full range of coverage against war and other political violence perils, Talbot's Global Practice Leader for Political Violence, Steven Tebbutt, commented; ... Read the full article
Validus acquires crop insurance agent for $127.5m
31st January 2017
Bermuda headquartered insurance and reinsurance group Validus has acquired the U.S. Crop Risk Services business from Archer Daniels Midland Company for a total consideration of $127.5 million. The deal will see the Bermudian re/insurance group and ADM continue to collaborate, under a marketing services agreement through which they will provide a ... Read the full article
- ← Previous
- 1
- 2