NU Online News Service, July 19, 2:17 p.m. EDT
Validus Holdings’ bid for Transatlantic Holdings, if successful, will be credit-positive for Validus due to strategic benefits, but credit-negative for Transatlantic due to higher catastrophe leverage, according to Moody’s.
Validus made its bid for Transatlantic last Tuesday, about a month after Transatlantic agreed to a merger with Allied World Assurance Co. Holdings. Moody’s says, “Either Validus’ or Allied World’s proposal would make the combined company one of the biggest reinsurers in Bermuda and raise its profile in the global reinsurance market.”
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