Flagstone tie-up would take Validus to top of the Bermuda cat table
A successful combination between Validus and its smaller rival
Flagstone Re would create Bermuda's largest property
catastrophe reinsurance writer, edging out short-tail specialist
RenaissanceRe.
As the chart demonstrates, based on 2011 figures Validus and
Flagstone Re combine to $1.19bn, ahead of the $1.18bn recorded by
the longer-established RenaissanceRe, including the impact of
managed cat premium.
Click to enlarge
Speaking on a conference call with analysts detailing the proposed
tie-up, Validus CEO Ed Noonan described the acquisition as
"strategic" as the...
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