Validus Holdings, Ltd. Announces Senior Management Appointments at Talbot Underwriting Ltd.
November 19 2015 - 5:00AM
Business Wire
Validus Holdings, Ltd. (NYSE: VR) (“Validus”), today announced a
series of senior management appointments at Talbot Underwriting
Ltd. (“Talbot”), its wholly owned subsidiary.
Rupert Atkin will retire as Chief Executive Officer of Talbot on
February 29, 2016. Peter Bilsby, currently Managing Director of
Talbot, will succeed Rupert as Chief Executive Officer on March 1,
2016. Michael Carpenter will step down as Chairman of Talbot on
March 1, 2016, at which point Rupert will succeed him in the role.
Michael will remain a Non-Executive Director of Talbot and a member
of the Validus board of directors. The appointments are subject to
customary Lloyd’s and regulatory approvals.
Peter Bilsby has almost 30 years’ experience of the insurance
market. He joined Talbot as Head of Global Aerospace from XL London
Market Ltd. in September 2009 and served as Director of
Underwriting until his appointment as Managing Director in November
2013. Peter was appointed to the Board of Talbot in April 2010.
Rupert Atkin has worked in the insurance market for 35 years. He
launched Syndicate 1183 in 1991 and was appointed Director of
Underwriting at Talbot in 2001. He became Chief Executive Officer
following the sale of Talbot to Validus in 2007. Rupert was
appointed to the Council of Lloyd's in 2007, became Chairman of the
Lloyd's Market Association in 2012 and Deputy Chairman of Lloyd's
in 2014.
Michael Carpenter joined Talbot in June 2001 as Chief Executive
Officer and was appointed Chairman following the sale of the
business to Validus in 2007. Michael joined the Board of Validus in
2012 and is the Chairman of the Validus Group Audit Committee.
Ed Noonan, Chairman and Chief Executive Officer of Validus,
said:
“Rupert Atkin has overseen Syndicate 1183’s progression since
inception and Talbot’s growth for the past eight years, building it
into an important part of the Validus Group. Through Rupert, we
have been able to expand our services and global presence, and we
have a fantastic platform for continued growth and success. The
Board and staff of Validus thank him for his exceptional
contribution and years of service, and we are delighted that he
will take on the role of Chairman of Talbot so that the company
will continue to benefit from his expertise.
“I would also like to thank Michael Carpenter for his notable
input at Talbot. As Chief Executive Officer and then Chairman,
working closely with Rupert throughout, Michael has guided the
company through a significant period of development within the
underwriting market. We are fortunate to continue to draw on his
expert advice and guidance on the Board of Validus.
“I have no doubt that Peter Bilsby will build on Rupert’s
achievements. Since joining Talbot, Peter has been a major
contributor to the strategic direction of the business. His
leadership skills, industry experience and first-hand knowledge of
underwriting specialty risks make him the ideal candidate to take
Talbot forward in its next phase of growth.”
Rupert Atkin, Chief Executive Officer of Talbot, said:
“Having launched Syndicate 1183 in 1991 with two employees and a
£6m capacity and overseen its growth to 349 employees and a £625m
capacity in 2015, I look back on this transformation with great
pride and satisfaction. Talbot has generated in excess of $850m of
profit for Validus since being acquired in 2007 and I am confident
the business will continue to flourish under Peter Bilsby's
leadership. I would like to thank my colleagues who have
contributed so much to this success.”
Peter Bilsby, Chief Executive Officer Designate, said:
“I am honored and privileged to be appointed to the role of
Chief Executive Officer of Talbot. Since joining the company six
years ago, I have been very impressed by the strength and depth of
talent within our organization. I am excited to be assuming the
leadership of the business and building upon its recent success
under Rupert Atkin's outstanding direction. I look forward to
working with the management team as we continue to drive profitable
growth and performance across Talbot's global offices.”
About Validus Holdings, Ltd.
Validus Holdings, Ltd. 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 the Group in insurance linked securities and
other property catastrophe reinsurance investments.
About Talbot Underwriting Ltd.
Talbot Underwriting Ltd operates within the Lloyd’s insurance
market through Syndicate 1183. Syndicate 1183 focuses on
underwriting a number of specialty risks including marine,
aviation, transport, energy, terrorism, political risk, accident
and health, construction, contingency, financial institutions,
property and treaty reinsurance. Syndicate 1183 has capacity of
£625 million for the 2015 underwriting year of account.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20151119005519/en/
Media:Brunswick GroupTom Burns/Dania Saidam+44 20 7404
5959
Validus Holdings, Ltd. (delisted) (NYSE:VR)
Historical Stock Chart
From Apr 2024 to May 2024
Validus Holdings, Ltd. (delisted) (NYSE:VR)
Historical Stock Chart
From May 2023 to May 2024