Validus Holdings, Ltd. has appointed former Swiss Re chief financial officer John Fitzpatrick to its board of directors.

The appointment of the Pension Corporation partner takes effect immediately and expands the Class of 2005 reinsurer's board to 12 members.

"John is a proven leader in the insurance and reinsurance sector and I am certain that he will be a valuable resource for our Board and management team as we focus on continuing to grow our business and building value for shareholders," said Validus chairman and CEO Ed Noonan. Mr. Fitzpatrick is currently a Partner at Pension Corporation and a Director of Pension Insurance Corporation Ltd., the London-based pension insurer. From 1998 to 2006, he was a member of Swiss Re's Executive Board Committee and served Swiss Re as CFO, head of the Life and Health Business Group and head of Financial Services. Mr. Fitzpatrick was previously a member of the board of the Association of British Insurers.

• Validus also announced it increased its annual dividend by 10 percent to 88 cents a share. The dividend is payable on March 31, the company said in a statement.