An executive involved in a planned Bermuda reinsurance operation, that would include former Marsh brokerage Chief Executive Jeffrey Greenberg, said yesterday he could not discuss any activity until after funding arrangements are completed.
Matt Grayson, managing director of the Aquiline Capital Partners L.L.P. investment vehicle, cited SEC quiet period restraints on any comment that would affect the price of an offering.
Aquiline, backed by Venturion Capital in New York, according to previously published news reports is seeking to raise $1 billion with a private placement. It will sponsor a Bermuda catastrophe reinsurer to be named Validus Holdings, Ltd. with Ed Noonan, formerly of American Re, as its chairman and chief executive officer.
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