Talbot Strengthens Global Construction Underwriting Team

LONDON--(BUSINESS WIRE)-- Talbot Underwriting, Ltd., a wholly owned subsidiary of Validus Holdings, Ltd., today announced the appointment of Joe Wee as Regional Construction Underwriter at Talbot Risk Services Pte Ltd.Mr. Wee brings specialist construction expertise to support the growth of Talbot in Asia after nine years with Allianz in a comparable regional role. He will join Talbot’s team of five underwriters in Asia.

James Skinner, Active Underwriter at Talbot commented, “We are delighted to welcome Joe to Talbot to boost our underwriting team in Singapore. Construction remains at the forefront of our plans for development in Asia and Joe’s experience will broaden our capabilities in this vital region.”

John Ewington, Principal Officer of Talbot’s Singapore office said, “The addition of Joe Wee to our team in Singapore complements the other classes in which we are actively engaged and will enable us to respond even more effectively to the demands of our clients and brokers on the major projects being constructed in Asia.”

Notes to editors:

Talbot

Talbot Holdings Ltd. was established in November 2001 and operates primarily within the Lloyd’s insurance market through Syndicate 1183. It was acquired by NYSE listed, Bermuda-based Validus Holdings, Ltd. in July 2007.

Syndicate 1183 focuses on underwriting a number of specialty risks, with particularly strong franchises in marine, aviation, transport, energy, terrorism, political risk, accident and health, construction, contingency, financial institutions, property and treaty reinsurance. Syndicate 1183 has capacity of £600 million for the 2012 year of account.

www.talbotuw.com

Validus

Validus Holdings, Ltd. is a provider of reinsurance and insurance, conducting its operations worldwide through two wholly-owned subsidiaries, Validus Reinsurance, Ltd. (“Validus Re”) and Talbot Holdings Ltd. Validus Re is a Bermuda-based reinsurer focused on short-tail lines of reinsurance.

www.validusholdings.com

Cautionary Note Regarding Forward-Looking Statements

This news release may include forward-looking statements, both with respect to us and our industry, that reflect our current views with respect to future events and financial performance. Statements that include the words “expect,” “intend,” “plan,” “believe,” “project,” “anticipate,” “will,” “may” and similar statements of a future or forward-looking nature identify forward-looking statements. All forward-looking statements address matters that involve risks and uncertainties. Accordingly, there are or will be important factors that could cause actual results to differ materially from those indicated in such statements and, therefore, you should not place undue reliance on any such statements. We believe that these factors include, but are not limited to, the following: 1) unpredictability and severity of catastrophic events; 2) rating agency actions; 3) adequacy of Validus’ risk management and loss limitation methods; 4) cyclicality of demand and pricing in the insurance and reinsurance markets; 5) statutory or regulatory developments including tax policy, reinsurance and other regulatory matters; 6) Validus’ ability to implement its business strategy during “soft” as well as “hard” markets; 7) adequacy of Validus’ loss reserves; 8) continued availability of capital and financing; 9) retention of key personnel; 10) competition; 11) potential loss of business from one or more major insurance or reinsurance brokers; 12) Validus’ ability to implement, successfully and on a timely basis, complex infrastructure, distribution capabilities, systems, procedures and internal controls, and to develop accurate actuarial data to support the business and regulatory and reporting requirements; 13) general economic and market conditions (including inflation, volatility in the credit and capital markets, interest rates and foreign currency exchange rates); 14) the integration of businesses Validus may acquire or new business ventures Validus may start; 15) the effect on Validus’ investment portfolios of changing financial market conditions including inflation, interest rates, liquidity and other factors; 16) acts of terrorism or outbreak of war; and 17) availability of reinsurance and retrocessional coverage, as well as management’s response to any of the aforementioned factors.

The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included herein and elsewhere, including the Risk Factors included in Validus Holdings, Ltd.’s most recent reports on Form 10-K and Form 10-Q and other documents on file with the Securities and Exchange Commission. Any forward-looking statements made in this news release are qualified by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by us will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, us or our business or operations. We undertake no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

Talbot Underwriting, Ltd.Rupert Atkin, Chief Executive Officer
020-7350-3500
or
Media:
Brunswick GroupGreg Faje / Jessie Baker+1-212-333-3810

Source: Talbot Underwriting, Ltd.