Earnings Reports: Validus Holdings

                                                Q4 2011         Q4   2010          

Gross premiums written -$278.28 mn    $258.7 mn

Full year  -  2011         2010

              $2.1247 bn    $1.99 bn

Net premiums earned  — $488.35 mn      $432.8 mn  

Full year – 2011           2010

              $1.802 bn  $1.761 bn      

Net income     ———— $27.324 mn    $102.687 mn             

Full year -  2011            2010

             $21.329 mn  $402.564 mn

Net operating income*  —— $31.077 mn  $156.35mn

Full year   2011           2010

            $74.138 mn  $322.763 mn  

                                                     Q4 2011         Q4 2010

Net realized gain/loss —-    $5.355 mn      ($14.399 mn)                   

Full year   2011          2010

           $28.532 mn  $32.498 mn

Net investment income   —-   $28.08 mn         $30.962 mn

Full year  2011             2010

          $112.296 mn  $134.103 mn   

Q4 Combined ratio – 97.4 percent (67.7 percent in Q4 2010);

Full year – 99.4 percent (2010 – 86.2  percent)

* includes tax benefit

Chairman and CEO Ed Noonan commented: “Insured losses arising from natural catastrophes and man-made disasters were approximately $108 billion in 2011. This was the second worst year on record after 2005, the year of our formation.

“Despite these significant market losses, Validus was profitable in 2011 which continues our Company’s record of profitability in each year of our operations despite heavy insured loss activity and financial market turbulence over the period. Since formation, our Company has grown diluted book value per share plus accumulated dividends at an annual compounded rate of 13.3 percent. I am satisfied with this outcome which is the result of world class underwriting, risk, financial and operational management throughout our global businesses.”

The complete report, details on accessing the company’s earnings conference call and other information may be found on its web site.

Source: Validus Holdings