Validus Holdings, Ltd. announced yesterday that it is expanding its business into technical lines property insurance through a unit in New York to be run by an top executive who has joined from American International Group (AIG).

David Hawksby has been appointed chief executive officer of Validus Underwriting Risk Services Inc. (VURS), a managing general agency based in New York.

Mr. Hawksby will be joined at VURS by a team of specialist underwriters and engineers who intend to underwrite on behalf of Validus' London-based subsidiary Talbot Underwriting Ltd. through its Lloyd's Syndicate 1183 and other insurance companies, subject to the approval of Lloyd's and UK regulator the Financial Services Authority.

At AIG, Mr. Hawksby was president of the Global Energy Property Division responsible for handling all technical lines business. During a 31-year insurance career, he has held a series of increasingly senior roles and is widely recognised as one of the most experienced underwriters in the technical lines sector.

Mr. Hawksby said: ''I look forward to joining Validus to develop the onshore technical lines account on a worldwide basis by introducing greater scale to certain product lines written in the Group."

George Reeth, deputy chairman and president of Validus Holdings, Ltd., said: "We are pleased to welcome David Hawksby and his team to the Validus group.

"Their extensive industry experience, knowledge, and client relationships are an important addition to our comprehensive global products in short tail lines of insurance and reinsurance.

"This new venture demonstrates Validus' commitment to expanding global distribution channels and our ability to develop new business opportunities."