AIG completes acquisition of Validus

  • AIG has completed its acquisition of Bermudian-based Validus Holdings

    AIG has completed its acquisition of Bermudian-based Validus Holdings

American International Group Inc has completed its acquisition of Bermudian-based Validus Holdings Ltd.

The deal was first announced in January and has now close following receipt of regulatory approvals and approval of Validus shareholders.

Brian Duperreault, president and chief executive officer of AIG, said: “We are very pleased to welcome Validus to AIG. Validus’s experienced team and complementary businesses will help us deliver sustainable, profitable growth as we continue to build value for our shareholders.”

In a statement, AIG said Validus adds “attractive and diversified franchises” with reinsurance platform Validus Re, an insurance-linked securities asset manager AlphaCat, Lloyd’s syndicate Talbot, together with Western World, a specialist in US small commercial excess and surplus underwriting, and Crop Risk Services, which provides access to the North American crop insurance market.

Peter Zaffino, AIG’s CEO, General Insurance, said: “We look forward to working with the Validus team on the expanded capabilities and value we can deliver to our clients and broker partners. The Validus businesses will be immediately accretive to our performance in General Insurance now that they are officially part of AIG.”

Validus was among the Bermuda “Class of 2005” reinsurance start-ups that followed in the wake of the major insured losses from hurricanes Katrina, Rita, and Wilma that year.

You must be registered or signed-in to post comment or to vote.

Published Jul 18, 2018 at 10:42 am (Updated Jul 18, 2018 at 10:42 am)

AIG completes acquisition of Validus

What you
Need to
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon

  • Take Our Poll

    • "Who are your favourites to win the Cricket World Cup?"
    • Australia
    • 11%
    • Bangladesh
    • 3%
    • England
    • 28%
    • India
    • 17%
    • New Zealand
    • 5%
    • Pakistan
    • 4%
    • South Africa
    • 4%
    • West Indies
    • 27%
    • Total Votes: 3942
    • Poll Archive

    Today's Obituaries

    eMoo Posts