Validus Holdings, Ltd. Announces $2.4 Billion of AlphaCat Assets under Management at January 1, 2016
January 12 2016 - 4:16PM
Business Wire
Validus Holdings, Ltd. (“Validus” or the “Company”) (NYSE:VR)
announced today that assets under management (“AUM”) for Alphacat
Mangers, Ltd. (“AlphaCat”) were $2.4 billion as of January 1, 2016.
This amount compares to $1.4 billion as of January 1, 2015,
representing year on year growth of greater than 70%.
This $2.4 billion figure is inclusive of third party assets
under management of $2.1 billion. All numbers referred to above
exclude the assets of PaCRe, Ltd. as this entity was off risk
effective January 1, 2016.
Lixin Zeng, the Chief Executive Officer of AlphaCat commented:
“We are thrilled to reach the milestone of $2 billion of third
party AUM. Through the AlphaCat/Validus platform, we have deployed
all of the available capital consistent with our disciplined
underwriting standards. The continued growth of AlphaCat reflects
investor confidence in our franchise and reaffirms the strategic
value of AlphaCat to the Validus Group.”
About Validus Holdings,
Ltd.
Validus Holdings, Ltd. (“Validus”) is a holding company for
reinsurance and insurance operating companies and investment
advisors including Validus Reinsurance, Ltd. (“Validus Re”), Talbot
Holdings Ltd. (“Talbot”), Western World Insurance Group, Inc.
(“Western World”) and AlphaCat Managers, Ltd. (“AlphaCat”).
Validus Re is a Bermuda based reinsurer focused on short tail
lines of reinsurance. Talbot is the Bermuda parent of the specialty
insurance group primarily operating within the Lloyd's insurance
market through Syndicate 1183. Western World is a U.S. specialty
lines insurance company focused on excess and surplus lines.
AlphaCat is a Bermuda based investment adviser managing capital for
third parties and Validus in insurance linked securities and other
property catastrophe reinsurance investments.
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version on businesswire.com: http://www.businesswire.com/news/home/20160112006497/en/
Investors:Validus Holdings, Ltd. or AlphaCat Managers,
Ltd.Investor.Relations@ValidusHoldings.comInvestor.Relations@acmanagers.com+1-441-278-9000orMedia:Brunswick
GroupRadina Russell / Josh Gerth+1-212-333-3810
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