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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Validus Holdings, Ltd. (delisted) | NYSE:VR | NYSE | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 67.99 | 0.00 | 01:00:00 |
Validus Holdings, Ltd. (“Validus” or the “Company”) (NYSE:VR) announced today that assets under management (“AUM”) for Alphacat Mangers, Ltd. (“AlphaCat”) were $2.4 billion as of January 1, 2016. This amount compares to $1.4 billion as of January 1, 2015, representing year on year growth of greater than 70%.
This $2.4 billion figure is inclusive of third party assets under management of $2.1 billion. All numbers referred to above exclude the assets of PaCRe, Ltd. as this entity was off risk effective January 1, 2016.
Lixin Zeng, the Chief Executive Officer of AlphaCat commented: “We are thrilled to reach the milestone of $2 billion of third party AUM. Through the AlphaCat/Validus platform, we have deployed all of the available capital consistent with our disciplined underwriting standards. The continued growth of AlphaCat reflects investor confidence in our franchise and reaffirms the strategic value of AlphaCat to the Validus Group.”
About Validus Holdings, Ltd.
Validus Holdings, Ltd. (“Validus”) is a holding company for reinsurance and insurance operating companies and investment advisors including Validus Reinsurance, Ltd. (“Validus Re”), Talbot Holdings Ltd. (“Talbot”), Western World Insurance Group, Inc. (“Western World”) and AlphaCat Managers, Ltd. (“AlphaCat”).
Validus Re is a Bermuda based reinsurer focused on short tail lines of reinsurance. Talbot is the Bermuda parent of the specialty insurance group primarily operating within the Lloyd's insurance market through Syndicate 1183. Western World is a U.S. specialty lines insurance company focused on excess and surplus lines. AlphaCat is a Bermuda based investment adviser managing capital for third parties and Validus in insurance linked securities and other property catastrophe reinsurance investments.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160112006497/en/
Investors:Validus Holdings, Ltd. or AlphaCat Managers, Ltd.Investor.Relations@ValidusHoldings.comInvestor.Relations@acmanagers.com+1-441-278-9000orMedia:Brunswick GroupRadina Russell / Josh Gerth+1-212-333-3810
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