Validus

Aspen adds former Validus exec Kudera as new chief actuary

Aspen has brought in industry veteran Andy Kudera as its new group chief actuary with the former Validus and Endurance executive set to join the Bermudian (re)insurer in early February.

Aspen appoints former Validus exec Ritz as president

Apollo-owned Aspen Insurance Holdings has named former Validus executive Jonathan Ritz to the newly created role of group president.

DE Shaw writes biggest share of Citizens’ 2019 placements

Collateralised reinsurer DE Shaw Re wrote just over 21 percent of the limit secured by Florida’s Citizens on the layers of its traditional programme placed at 1 June 2019, including a $100mn line on its new personal lines account (PLA) cover.

AIG hires Chris Schaper to head new reinsurance platform

AIG has formed a new reinsurance platform that consolidates its assumed reinsurance operations, including Validus Re, AlphaCat and Talbot Treaty into one global business headed by former Montpelier and Victor executive Chris Schaper.

Validus Re’s Driscoll takes global property and ag UW role at AIG

AIG has moved Validus Re CEO Kean Driscoll to the new position of global CUO for property and agriculture in its General Insurance operation as it builds a layer of senior underwriting management oversight across the unit.

Rupert Atkin steps down as Talbot chairman

Rupert Atkin is to stand down from his role of non-executive chairman at AIG-owned Talbot after 28 years with the Lloyd’s syndicate.

Ritz exits as Western World comes under Lexington structure

Former Western World CEO Jonathan Ritz is leaving the specialty carrier as it is realigned to become part of AIG’s Lexington Insurance E&S platform, The Insurer can reveal.

Validus Re to set up Canada office

AIG subsidiary Validus Reinsurance intends to file an application to establish a Canadian branch, with a chief agency in Toronto.

Validus Specialty swoops on Argo for CUO hire

Validus Specialty has appointed Stephen McGill as Senior Vice President and Chief Underwriting Officer of Validus Specialty, Western World and Crop Risk Services, effective immediately.

AIG shares dip after heavy Q3 cat loss estimate

AIG’s share price has fallen in early trading today but less than suggested from last night’s after market price following the publication of the company’s unexpectedly high Q3 loss bill.

AIG sees 'a lot of runway' in ILS: Duperreault

There is major scope for AIG to build products for the insurance linked security (ILS) market, AIG’s president and chief executive officer Brian Duperreault has said.

After the storms... (comes the M&A surge...)

2017 will be remembered for the brutal roll-call of major cat events including Hurricanes Harvey, Irma and Marie as well as the wildfires in California.

The Hartford taps Validus for its head of credit and political risk

The Hartford has tapped Bermudian carrier Validus for its head of credit and political risk Jared Kotler, re-Insurance.com understands.

Validus swings to loss as AIG takeover completes

Validus has posted a loss of $32.9mn in the second quarter, a week after AIG completed its all-cash $5.56bn acquisition of the Bermudian (re)insurer.

AIG completes $5.56bn Validus takeover

AIG has completed its all-cash $5.56bn acquisition of Bermudian (re)insurer Validus in a deal that also bags the US insurance giant Lloyd’s syndicate Talbot.

Validus Specialty picks XL Catlin’s Eells as COO

Validus’ specialty business, which includes Western World and Lloyd’s syndicate Talbot, has tapped Bob Eells to join as chief operating officer.

Validus disappoints analysts as combined ratio creeps

AIG’s latest acquisition, Validus, significantly underperformed against the expectations of analysts as the combined ratio deteriorated and reinsurance spend almost doubled.

AIG increased Validus bid by $800mn

Validus CEO Ed Noonan extracted an additional $800mn from AIG during negotiations between the two firms late last year and in January this year before they agreed a final $5.56bn takeout price.

Custody battles

Much like in an acrimonious divorce, M&A can often see company bosses lose their baby - the business they’ve built - to a new suitor. But what becomes of those execs after the custody battle?

Validus’ AlphaCat completes $5mn LatAm ILS transaction

Validus Holdings’ insurance linked security (ILS) fund manager AlphaCat has completed a $5mn catastrophe bond transaction with Brazilian reinsurer Terra Brasis Re.

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