13 December 2016News

Validus Holdings CEO explains reasons for share sale

Validus Holdings has announced that chairman and CEO Edward Noonan has reluctantly sold 273,000 shares of the company's common stock in open market transactions.

The company said that Noonan had sold the shares in order to satisfy outstanding tax related obligations due as a result of the exercise of expiring options and warrants during the 2015 tax year.

Commenting on the sale, Noonan stated, "Since the founding of the Company, I have not sold a single share of Validus stock and it would be my strong preference not to. I have done so now solely for liquidity purposes in order to pay tax obligations."

Validus Holdings is a holding company for reinsurance and insurance operating companies and investment advisors including Validus Re, Talbot Underwriting, Western World Insurance Group, and AlphaCat Managers.




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13 January 2017   Alphacat Managers, the Bermuda-based third party reinsurance capital management subsidiary of Validus, has increased its third party assets under management (AUM) by 20 percent on the back of what its CEO called strong investor support.
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31 January 2017   Bermuda-based Validus Holdings has purchased Archer Daniels Midland Company’s (ADM) Crop Risk Services business (CRS).
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10 February 2017   Validus subsidiary Talbot Underwriting has introduced three enhanced Lloyd’s led terror facilities in the Singapore, Latin American and Dubai markets.

More on this story

ILS
13 January 2017   Alphacat Managers, the Bermuda-based third party reinsurance capital management subsidiary of Validus, has increased its third party assets under management (AUM) by 20 percent on the back of what its CEO called strong investor support.
News
31 January 2017   Bermuda-based Validus Holdings has purchased Archer Daniels Midland Company’s (ADM) Crop Risk Services business (CRS).
News
10 February 2017   Validus subsidiary Talbot Underwriting has introduced three enhanced Lloyd’s led terror facilities in the Singapore, Latin American and Dubai markets.