January 2018/4

The AIG-Validus deal puts an end to the Bermudian class of 2005.

Two of insurance's most experienced dealmakers, AIG CEO Brian Duperreault and Validus CEO Ed Noonan, struck the first and last deals of their respective tenures yesterday, as the global insurance giant made good on its growth pronouncements.

Validus looks set to secure a premium takeout multiple relative to other recent Bermudian sellers after AIG agreed to pay $5.56bn, or 1.58x fully diluted book value, to buy the business.