|Exchange:||New York Stock Exchange|
|Stock:||Validus Holdings, Inc.|
|Industry:||Insurance - Reinsurance|
|Validus Holdings, Ltd. was incorporated under the laws of Bermuda on October 19, 2005. On July 30, 2007, it completed its initial public offering. Through its subsidiaries, the Company provides reinsurance and insurance coverage in the property, marine, and specialty lines markets worldwide. It underwrites from two distinct global operating subsidiaries, Validus Reinsurance, Ltd. (Validus Re) and Talbot Holdings Ltd. (Talbot). Validus Re, the Company’s main reinsurance operating subsidiary, operates as a Bermuda-based provider of short-tail reinsurance products on a global basis. Talbot, the Company’s main insurance operating subsidiary, operates through its two underwriting platforms: Talbot Underwriting Ltd, which manages syndicate 1183 at Lloyd’s, and Underwriting Risk Services Ltd, which is an underwriting agency writing mainly yachts, marinas and fine art business on behalf of the Talbot syndicate and others. The primary lines in which the Company conducts business are: Property, Marine and Specialty. Validus Re underwrites property catastrophe reinsurance, property per risk reinsurance and property pro rata reinsurance. Property catastrophe includes reinsurance for insurance companies’ exposures to an accumulation of property and related losses from separate policies, typically relating to natural disasters or other catastrophic events. Property per risk provides reinsurance for insurance companies’ excess retention on individual property and related risks, such as highly-valued buildings. In property pro rata contracts the reinsurer shares the premiums as well as the losses and expenses in an agreed proportion with the cedant. The Company underwrites insurance and reinsurance on marine risks covering damage to or losses of marine vessels or cargo, yachts and marinas, third-party liability for marine accidents and physical loss and liability from mainly offshore energy properties. The Company underwrites other specialty lines with very limited exposure correlation with its property, marine and energy portfolios. The insurance and reinsurance industries are highly competitive. The Company faces intense competition, based upon global capacity, product breadth, reputation and experience with respect to particular lines of business, relationships with (re)insurance intermediaries, quality of service, capital and perceived financial, innovation and price. It competes with major U.S., Bermuda, European and other international insurers and reinsurers and certain underwriting syndicates and insurers. Talbot operates mainly within the Lloyd’s insurance market through Syndicate 1183, and Lloyd’s operations are subject to regulation in the United States in addition to being regulated in the United Kingdom.|
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