PEMBROKE, Bermuda--(BUSINESS WIRE)--Validus Holdings, Ltd. (“Validus” or the “Company”) (NYSE:VR) announced today that assets under management (“AUM”) at AlphaCat Managers, Ltd. (“AlphaCat”) were $2.7 billion as of January 1, 2017. This amount compares to $2.5 billion as of January 1, 2016. This $2.7 billion figure includes third party assets under management of $2.5 billion compared to $2.1 billion in the prior year, an increase of 20%, including the first third party investments in BetaCat ILS Funds.
Lixin Zeng, the Chief Executive Officer of AlphaCat commented: “We are pleased with the strong level of investor support for the AlphaCat business and continued success in growing assets under management. The increased size of AlphaCat reflects well on the strength of the AlphaCat/Validus underwriting platform, the skill of our analytical team and the infrastructure we have developed to manage third party capital.”
About Validus Holdings, Ltd.
Validus Holdings, Ltd. (“Validus”) is a holding company for reinsurance and insurance operating companies and investment advisors including Validus Reinsurance, Ltd. (“Validus Re”), Talbot Holdings Ltd. (“Talbot”), Western World Insurance Group, Inc. (“Western World”) and AlphaCat Managers, Ltd. (“AlphaCat”).
Validus Re is a Bermuda based reinsurer focused on short tail lines of reinsurance. Talbot is the Bermuda parent of the specialty insurance group primarily operating within the Lloyd's insurance market through Syndicate 1183. Western World is a U.S. specialty lines insurance company focused on excess and surplus lines. AlphaCat is a Bermuda based investment adviser managing capital for third parties and Validus in insurance linked securities and other property catastrophe reinsurance investments.