Validus Re wins A- rating from Fitch
Ratings agency Fitch assigned an A- insurer financial strength
(IFS) rating to Validus Re last week.
Fitch said the rating reflects Validus' record of "strong
underwriting profitability, solid capitalisation, and high-quality
and liquid investment portfolio" while also allowing for its
"significant exposure to earnings and capital volatility
derived from its property catastrophe reinsurance products,
comparatively short operating history and rapid growth".
The agency highlighted the Bermudian's "reasonable"
operating leverage ratios, including net premiums-to-equity of 0.34
times at year-end 2009, and...
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