$1bn Validus Re opens for business
New Bermudian start-up Validus Re has announced its formal launch. The company has raised an initial $1bn in equity capital and has received a rating of A- (Excellent) from AM Best.
The company said that it has been formed in response to favourable market conditions following the large insured losses incurred in 2004 and 2005.
Validus’ underwriting strategy will focus on creating
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