Market Overview

A.M. Best Comments on Under Review Status of Validus Holdings, Ltd. and Subsidiaries Following Close of Acquisition by American International Group, Inc.


A.M. Best has commented that the under review with developing
implications status, the Long-Term Issuer Credit Rating (Long-Term ICR)
of "bbb" and the Long-Term Issue Credit Ratings of Validus Holdings,
(Validus), as well as the Financial Strength Rating of A
(Excellent) and the Long-Term ICR of "a" of Validus Reinsurance Ltd.
(Validus Re) (headquartered in Hamilton, Bermuda) and its subsidiaries,
remain unchanged. The subsidiaries are Western World Insurance Company,
Stratford Insurance Company
, Tudor Insurance Company (all
headquartered in Parsippany, NJ) and Validus Reinsurance
(Switzerland) Ltd.
(Zurich, Switzerland).

This comment follows the close of American International Group, Inc.'s
(AIG) (NYSE:AIG) acquisition of Validus and its subsidiaries on July
18, 2018. The Credit Ratings will remain under review until the
strategic initiatives, including the executed reinsurance agreements
between the Western World Insurance Group and AIG are finalized
and the legal entity reorganization is completed. Additionally, A.M.
Best will assess how these changes impact the new organization's balance
sheet, operating performance, business profile and enterprise risk

This press release relates to Credit Ratings that have been published
on A.M. Best's website. For all rating information relating to the
release and pertinent disclosures, including details of the office
responsible for issuing each of the individual ratings referenced in
this release, please see A.M. Best's
Rating Activity
web page. For additional information
regarding the use and limitations of Credit Rating opinions, please view
Best's Credit Ratings
. For information on the proper media
use of Best's Credit Ratings and A.M. Best press releases, please view
for Media - Proper Use of Best's Credit Ratings and A.M. Best Rating
Action Press Releases

A.M. Best is the world's oldest and most authoritative insurance
rating and information source. For more information, visit

Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its

View Comments and Join the Discussion!