Bermudian short-tail specialist Validus fell to a loss of $172mn in the first three months of the year as $271mn of catastrophe losses took their toll.
Nevertheless, in absolute terms Validus suffered higher cat losses in Q1 2010 when an outsize $294mn loss took its major loss aggregate to $324mn.
The (re)insurer's cat bill is equivalent to 7.8 percent of its $3.5bn year-end shareholder equity.
The losses, which inflated the combined ratio to 143 percent, were divided between the Japanese...
You are currently viewing an incomplete version of this article. If you are a subscriber then please login now. If you are a non-subscriber but would like to be able to view this article, then please select from the purchasing options below.