Validus Holdings, Ltd. says fourth-quarter net income available to shareholders fell over 73 percent to $27.3 million as insured losses from catastrophes continued to take their toll.
In such an eventful year, with dozens of compelling stories as strong contenders, determining the Top 10 of 2011 was no easy task. But, after a lot of laborand internal debatewe feel the final list weve put together successfully captures the essential news of the past 12 months.
In such an eventful year, with dozens of compelling stories as strong contenders, determining the Top 10 of 2011 was no easy task. But, after a lot of laborand internal debatewe feel the final list weve put together successfully captures the essential news of the past 12 months.
Ending a five-month, multiparty bidding warwith Warren Buffett as one of the belligerentsinvestment holding company Alleghany Corp. recently reached a deal whereby reinsurer Transatlantic would become its independent subsidiary in a $3.4 billion deal.
The sparring between Transatlantic Holdings and Validus Holdings over the latters bid to acquire the former continues with Validus criticizing an investor presentation by Transatlantics board explaining why shareholders should reject Validus latest offer.
The latest offer from Validus Holdings to buy Transatlantic Holdings has been rejectedthe latest chapter in the pursuit of the New York-based international reinsurance company.
Business has picked up in the bidding for Transatlantic Holdings since the New York-based reinsurer and Allied World Assurance called off their proposed merger, as Transatlantic says it has entered into two confidentiality agreements: one with Validus Holdings and one with an undisclosed third party.
Less than a week before shareholders of Transatlantic Holdings are set to vote on a potential merger with Allied World Assurance Co., Validus Holdingsa competing bidderis looking to oust Transatlantics board.