Validus Enters Technical Lines Property Coverage with New Underwriter

Bermuda-based Validus Holdings, Ltd. announced today that it is expanding its business into Technical Lines Property insurance through the creation of Validus Underwriting Risk Services Inc. (VURS), a managing general agency based in New York.

Validus named David Hawksby as the new firm’s CEO. He will be joined by a team of specialist underwriters and engineers who intend to underwrite on behalf of Validus’ London-based subsidiary Talbot Underwriting Ltd. through its Lloyd’s Syndicate 1183 and other insurance companies, subject to the approval of Lloyd’s and the Financial Services Authority.

Hawksby joins Validus from American International Group, where he was President of the Global Energy Property Division responsible for handling all Technical Lines business. During a 31 year insurance career, he has held a series of increasingly senior roles and is widely recognized as one of the most experienced underwriters in the Technical Lines sector.

He indicated he is looking “forward to joining Validus to develop the onshore Technical Lines account on a worldwide basis by introducing greater scale to certain product lines written in the Group.”

George Reeth, Deputy Chairman and President of Validus Holdings, Ltd., commented: “We are pleased to welcome David Hawksby and his team to the Validus group. Their extensive industry experience, knowledge, and client relationships are an important addition to our comprehensive global products in short tail lines of insurance and reinsurance. This new venture demonstrates Validus’ commitment to expanding global distribution channels and our ability to develop new business opportunities.”

Source: Validus Holdings – www.validusre.bm

Topics New Markets Underwriting Property