The deal includes Validus Reinsurance Ltd and its consolidated subsidiaries, AlphaCat Managers Ltd, and all renewal rights to the Assumed Reinsurance Treaty Unit of Talbot
The company said it intends to use net proceeds from the offering to make capital contributions to its insurance and reinsurance operating subsidiaries
Revised guidance for public consultation is being released in the weeks ahead, followed by final deliberations by the FATF plenary early in the new year