0001348259-13-000041.txt : 20130307 0001348259-13-000041.hdr.sgml : 20130307 20130307135638 ACCESSION NUMBER: 0001348259-13-000041 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20130307 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20130307 DATE AS OF CHANGE: 20130307 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VALIDUS HOLDINGS LTD CENTRAL INDEX KEY: 0001348259 STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331] IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33606 FILM NUMBER: 13672784 BUSINESS ADDRESS: STREET 1: 29 RICHMOND ROAD CITY: PEMBROKE STATE: D0 ZIP: HM08 BUSINESS PHONE: 441-278-9000 MAIL ADDRESS: STREET 1: 29 RICHMOND ROAD CITY: PEMBROKE STATE: D0 ZIP: HM08 8-K 1 a20130307coverpageromelsal.htm 8-K 2013.03.07 Cover Page Romel Salam
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________
FORM 8-K
___________
CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 7, 2013

Commission file number 001-33606
___________

 
VALIDUS HOLDINGS, LTD.
(Exact name of registrant as specified in its charter)



BERMUDA
98-0501001
(State or other jurisdiction of
(I.R.S. Employer
incorporation or organization)
Identification No.)
 

29 Richmond Road, Pembroke, Bermuda HM 08
(Address of principal executive offices)

Registrant's telephone number, including area code: (441) 278-9000
Not Applicable
(Former name or former address, if changed since last report)

 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


o    Written communications pursuant to Rule 425 under the securities Act (17 CFR 230.425)


o    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


o    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


o    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 
 
 
 
 
 
 
 
 
 
 
 
 
 





Item 8.01
 
Other Events.
     
On March 7, 2013, Validus Holdings, Ltd. (the “Company”) issued the Press Release attached hereto as Exhibit 99.1 and incorporated by reference herein, announcing the appointment of Romel Salam as the Company's new Chief Risk Officer.

Item 9.01.
 
Financial Statements and Exhibits.

(d)
 
Exhibits. The following exhibits are filed herewith:

Exhibit No.
 
Description
 
 

 
 
 
 
99.1

 
 
Press Release dated March 7, 2013 announcing the appointment of Romel Salam as the Company's new Chief Risk Officer.






SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: March 7, 2013

 
VALIDUS HOLDINGS, LTD.
      (Registrant)
  
 
 
By:  
/s/ Robert F. Kuzloski
 
 
 
 
 
 
Name: 
Robert F. Kuzloski
 
 
Title: 
Executive Vice President and General Counsel
 




EX-99.1 2 exhibit991pressrelease-rsa.htm EXHIBIT 99.1 Exhibit 99.1 Press Release - R Salam
Validus Holdings, Ltd.
29 Richmond Road
Pembroke, HM 08 Bermuda



Validus Holdings, Ltd. Appoints Romel Salam as Chief Risk Officer

PEMBROKE, Bermuda, March 7, 2013 - Validus Holdings, Ltd. (“Validus” or the “Company”) (NYSE: VR) announced today that Romel Salam has been promoted to Executive Vice President and Group Chief Risk Officer, effective April 2, 2013.

Mr. Salam has nearly 25 years of industry experience, most recently serving as the Chief Actuary and Chief Risk Officer of Validus Reinsurance, Ltd. (“Validus Re”). Prior to joining Validus Re in 2010, Mr. Salam was a Senior Vice President at Transatlantic Reinsurance where he spent 20 years in positions of increasing responsibility. Mr. Salam is a Fellow of the Casualty Actuarial Society and Member of the American Academy of Actuaries.

Mr. Salam will report to John Hendrickson, Validus' Director of Strategy, Risk Management and Corporate Development. Mr. Hendrickson commented on the appointment: "I am very pleased that Romel has accepted the position of Validus Group Chief Risk Officer. His skill set, experience and drive will lead Validus' continued progress on critical enterprise risk management initiatives including capital modeling and exposure management. This internal appointment also further demonstrates Validus' significant management depth."

Mr. Salam replaces outgoing Chief Risk Officer Stuart Mercer, one of the original founders of Validus, who will support the Group's ongoing strategic initiatives.

Mr. Salam's appointment is subject to the approval of the Bermuda Department of Immigration.

About Validus Holdings, Ltd.
Validus Holdings, Ltd. is a provider of reinsurance, insurance, and insurance linked securities management operating through three primary segments, Validus Reinsurance, Ltd., Talbot Holdings Ltd. and AlphaCat Managers, Ltd. Validus Reinsurance, Ltd. (“Validus Re”) is a Bermuda based reinsurer focused on short tail lines of reinsurance. Talbot Holdings Ltd. (“Talbot”) is the Bermuda parent of the specialty insurance group primarily operating within the Lloyd's insurance market through Syndicate 1183. AlphaCat Managers, Ltd. (“AlphaCat”) is a Bermuda based investment adviser, managing third-party capital in insurance linked securities and other investments in the property catastrophe reinsurance space.
Contacts:
Investors:
Validus Holdings, Ltd.
Jon Levenson, Executive Vice President
+1-441-278-9000
or
Media:
Brunswick Group
Greg Faje / Beau Allen
+1-212-333-3810


Validus Holdings, Ltd.
29 Richmond Road
Pembroke, HM 08 Bermuda




Cautionary Note Regarding Forward-Looking Statements

This press 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,” “could” 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' 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 press release are qualified by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by Validus will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, Validus or its business or operations. Validus undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

# # #


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