Insight and Intelligence on (Re)insurance Convergence with the Capital Markets

22 May 2013

Validus’ AlphaCat ‘firing on all cylinders’ but PaCRe falls to loss

27 July 2012

The AlphaCat division at Validus contributed $12.1mn to the Bermudian reinsurer's profits in the second quarter but the firm took a $5mn quarterly loss from the new PaCRe start-up, according to the insurer's Q2 results.

PaCRe posted a $50.4mn loss during the quarter as a result of unrealised investment losses. Validus took a $5mn share of this loss with the majority shareholder, hedge fund Paulson & Co, picking up the rest of the loss burden.

Its underwriting result came to...

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.

Purchase


Share: This article was published as part of issue July 2012/1

Insider Publishing Limited - 3rd Floor, 41 Eastcheap, London, EC3M 1DT, United Kingdom. The content of this website is copyright of Insider Publishing Limited 2013. All rights reserved Insider Publishing Limited actively monitors usage of our website and products and reserves the right to terminate accounts if abuse occurs.

Π