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VALIDUS HOLDINGS LTD Reports Operating Results (10-Q)

May 03, 2012 | About:

VALIDUS HOLDINGS LTD (NYSE:VR) filed Quarterly Report for the period ended 2012-03-31.

Validus Holding has a market cap of $3.19 billion; its shares were traded at around $32.11 with a P/E ratio of 200.1 and P/S ratio of 1.7. The dividend yield of Validus Holding stocks is 3.1%.

Highlight of Business Operations:

Underwriting income (loss) measures the performance of the Companys core underwriting function, excluding revenues and expenses such as net investment income (loss), other income, finance expenses, net realized and unrealized gains (losses) on investments and foreign exchange gains (losses). The Company believes the reporting of underwriting income enhances the understanding of our results by highlighting the underlying profitability of the Companys core insurance and reinsurance operations. Underwriting income (loss) for the three months ended March 31, 2012 and 2011 was $69.3 million and $(184.5) million, respectively. Underwriting income (loss) is a Non-GAAP financial measure as described in detail and reconciled in the section below entitled Underwriting Income.

Talbot net change in unearned premium has increased for the three months ended March 31, 2012 compared to the three months ended March 31, 2011 due to the earnings pattern of gross premiums written and reinsurance premiums ceded during three months ended March 31, 2012 as compared to the three months ended March 31, 2011.

Equity earnings in non-consolidated affiliate was $3.4 million for the three months ended March 31, 2012, compared to for the three months ended March 31, 2011, an increase of $3.4 million or 100%. AlphaCat Re 2011 commenced writing business in the second quarter of 2011, therefore there was no comparative income for the three months ended March 31, 2011. As at March 31, 2012, the Company owned 22.3% of AlphaCat Re 2011,

Read the The complete Report

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