Validus cancels Petrel sidecar
Class of 2005 start-up reinsurer Validus has announced that its collateralised quota share retro agreement with Petrel Re will not be extended beyond the 2007 underwriting year.
At the same time the firm also announced that its wholly owned subsidiary Validus Re has entered into a collateralized quota share retrocessional reinsurance agreement with respect to certain lines of
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