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Validus Holdings Ltd is the second Bermuda-based reinsurance group in a matter of days to announce the launch of a new sidecar for the 2012 hurricane season. RenaissanceRe last Friday announced the formation of its sidecar, Timicuan Re III. Now Vali...

After weeks of rumour and speculation, Validus Re has confirmed that Conan Ward has resigned as the company’s CEO and will leave the company altogether on February 1 of next year. The Bermuda reinsurer confirmed yesterday morning that Mr Ward has re...

It’s full steam ahead for Validus Re after record $124 million first-quarter earnings. The company’s CEO Ed Noonan told The Royal Gazette that despite experiencing sizeable claims during the first three months of the year, Validus Re is performing as...

Bermuda-based reinsurer Validus Holdings reported a record first-quarter profit of $124.2 million, despite “meaningful catastrophe losses” related to the Costa Concordia event and US tornado incidences. The company’s net income, which broke down to $...

Bermuda reinsurer Validus Holdings is teaming up with celebrated hedge fund manager John Paulson to launch a new Class 4 Bermuda reinsurance company. Validus tonight said that PaCRe will be funded by $500 million of contributed capital, which the new...

Bermuda reinsurer Validus Re’s financial strength rating has been upgraded by AM Best Co to A (excellent) from A- (excellent). Additionally, AM Best has upgraded the issuer credit rating to “bbb” from “bbb-”and debt ratings of the parent company, Val...

Validus Holdings’ likely claims payout on the Costa Concordia disaster will not increase even if insured losses are much higher than currently forecast. The Bermuda reinsurer’s chairman and CEO Ed Noonan told The Royal Gazette that the company’s esti...

Bermuda-based insurer Validus Holdings Ltd said it may be on the hook for $50 million to $65 million for the Costa Concordia shipwreck, according to its 2011 earnings results. Validus’s estimate of its own losses are based on its prediction that the ...

Bermuda-based reinsurer Validus Holdings’ full-year profit fell by 94 percent, as the firm paid out heavy catastrophe claims. But chairman and CEO Ed Noonan said the company saw strong rate increases in short-tail lines during January renewals. The C...