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Validus Holdings estimates $60M net impact from Q2 loss events

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Validus Holdings estimates $60M net impact from Q2 loss events

Validus HoldingsLtd. expects to record a $60.0 million net loss attributable to thecompany from notable and non-notable loss events in the second quarter, accordingto an initial estimate.

The amount is net of reinsurance and retrocessional recoveries,noncontrolling interest and reinstatement premiums. Of the total net loss, $38.7million is allocated to Validus Re, $19.2 million to Talbot, $1.5 million to AlphaCatand about $600,000 to Western World.

During the quarter, the Canadian wildfires were the only notableloss event, which aggregate to more than $30.0 million on a consolidated basis.Non-notable loss events, which aggregate to more than $15.0 million but less than$30.0 million on a consolidated basis, included Texas hailstorms, the Kumamoto earthquakeand the Jubilee oil event.