December 22, 2008 09:00 AM Eastern Standard Time
HAMILTON, Bermuda–( BUSINESS WIRE )–Validus Holdings, Limited. (New york stock exchange:VR) announced today that it’s expanding its business into Technical Lines Property insurance through the development of Validus Underwriting Risk Services Corporation. (“VURS”), a managing general agency located in New You are able to. David Hawksby continues to be hired Ceo of VURS and will also be became a member of by a small group of specialist underwriters and engineers who plan to underwrite with respect to Validus’ London-based subsidiary Talbot Underwriting Limited. through its Lloyd’s Syndicate 1183 along with other insurance providers, susceptible to your application of Lloyd’s and also the Fsa.
David Hawksby joins Validus from American Worldwide Group, where he was President from the Global Energy Division Of Property accountable for handling all Technical Lines business. Throughout a 31 year insurance career, he’s held a number of more and more senior roles and it is broadly recognized among the best underwriters within the Technical Lines sector.
Commenting on his new appointment, David Hawksby stated: ‘‘I expect to joining Validus to build up the onshore Technical Lines account on the worldwide basis by presenting greater scale to particular products designed in the audience.Inch
George Reeth, Deputy Chairman and President of Validus Holdings, Limited. commented: “We are content to welcome David Hawksby and the team towards the Validus group. Their extensive industry experience, understanding, and client relationships are an essential accessory for our comprehensive global products in a nutshell tail lines of insurance and reinsurance.
This startup company demonstrates Validus’ dedication to expanding global distribution channels and our capability to develop start up business possibilities.”
About Validus Holdings, Limited.
Validus Holdings, Limited. is really a provider of reinsurance and insurance, performing its operations worldwide through two wholly-owned subsidiaries, Validus Reinsurance, Limited. (“Validus Re”) and Talbot Holdings Limited. (“Talbot”). Validus Re is really a Bermuda based reinsurer centered on short-tail lines of reinsurance. Talbot may be the Bermuda parent from the niche insurance group mainly operating inside the Lloyd’s insurance market through Syndicate 1183. To learn more about (New york stock exchange: VR) Validus Holdings, Limited. visit our website at world wide web.validusre.bm
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We feel these factors include, but aren’t restricted to, the next: 1) unpredictability and harshness of catastrophic occasions 2) rating agency actions 3) adequacy in our risk management and loss limitation methods 4) cyclicality of demand and prices within the insurance and reinsurance markets 5) our limited operating history 6) our capability to effectively implement our business strategy during “soft” in addition to “hard” markets 7) adequacy in our loss reserves 8) continued accessibility to capital and financing 9) retention of key personnel 10) competition 11) potential lack of business from a number of major insurance or reinsurance brokers 12) our capability to implement, effectively as well as on a prompt basis, complex infrastructure, distribution abilities, systems, procedures and internal controls, and also to develop accurate actuarial data to aid the company and regulatory and reporting needs 13) general economic and market conditions (including inflation, rates of interest and forex forex rates) 14) the integration of Talbot or any other companies we might acquire or start up business ventures we might start 15) the impact on our investment portfolio of altering financial market conditions including inflation, rates of interest, liquidity along with other factors 16) acts of terrorism or outbreak of war and 17) availability of reinsurance and retrocessional coverage.
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Validus Holdings, Limited.
Jon Levenson, Senior V . P .
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