{"id":760602,"date":"2023-05-25T17:34:00","date_gmt":"2023-05-25T21:34:00","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-places-credit-ratings-of-validus-reinsurance-ltd-and-subsidiary-under-review-with-developing-implications-comments-on-credit-ratings-of-american-international-group-inc-and-its-other-prop\/"},"modified":"2023-05-25T17:34:00","modified_gmt":"2023-05-25T21:34:00","slug":"am-best-places-credit-ratings-of-validus-reinsurance-ltd-and-subsidiary-under-review-with-developing-implications-comments-on-credit-ratings-of-american-international-group-inc-and-its-other-prop","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-places-credit-ratings-of-validus-reinsurance-ltd-and-subsidiary-under-review-with-developing-implications-comments-on-credit-ratings-of-american-international-group-inc-and-its-other-prop\/","title":{"rendered":"AM Best Places Credit Ratings of Validus Reinsurance, Ltd. and Subsidiary Under Review With Developing Implications; Comments on Credit Ratings of American International Group, Inc. and Its Other Property\/Casualty Subsidiaries"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>AM Best Places Credit Ratings of Validus Reinsurance, Ltd. and Subsidiary Under Review With Developing Implications; Comments on Credit Ratings of American International Group, Inc. and Its Other Property\/Casualty Subsidiaries<\/b><\/p>\n<p>OLDWICK, N.J.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<b>AM Best <\/b>has placed under review with developing implications the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of \u201ca\u201d (Excellent) of Validus Reinsurance, Ltd. (Validus Re) (Hamilton, Bermuda) and Validus Reinsurance (Switzerland) Ltd. (Zurich, Switzerland), a subsidiary of Validus Holdings, Ltd. (Validus) (Hamilton, Bermuda) [NYSE:VR].<\/p>\n<p>\nConcurrently, AM Best has commented that the Credit Ratings (ratings) of the remaining members of American International Group, Inc. (AIG) remain unchanged.<\/p>\n<p>\nThese rating actions follow the recently announced definitive agreement whereby AIG will sell Validus Re and Validus, including AlphaCat Managers Ltd. and the Talbot Treaty reinsurance business, to RenaissanceRe Holdings Ltd. (RenaissanceRe) [NYSE: RNR] for $2.99 billion, consisting of $2.74 billion in cash and $250 million in RenaissanceRe common shares. AIG is also expected to receive all capital in excess of $2.1 billion of shareholders\u2019 equity of Validus Re and achieve future capital synergies of approximately $400 million from the recapture of reserves due to transferring the Validus Re balance sheet to RenaissanceRe, which together, as of Dec. 31, 2022, was over $1.5 billion. This brings the total estimated transaction value to more than $4.5 billion.<\/p>\n<p>\nThe transaction is expected to close in fourth-quarter 2023, subject to regulatory approvals and other customary closing conditions. Subsequent to the closing, AIG expects to make significant investments in RenaissanceRe\u2019s DaVinci Reinsurance Ltd. and Fontana Reinsurance Ltd. managed funds through AIG\u2019s investment portfolio.<\/p>\n<p>\nThe ratings will remain under review until the deal closes and AM Best completes its evaluation of organizational changes and strategic positioning within the new structure. The under review status may be updated in the interim period if new facts and circumstances present themselves.<\/p>\n<p><b>This press release relates to Credit Ratings that have been published on AM Best\u2019s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best\u2019s <\/b><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fratings.ambest.com%2Fratingeventdisclosures.aspx&amp;esheet=53407860&amp;newsitemid=20230525005887&amp;lan=en-US&amp;anchor=Recent+Rating+Activity&amp;index=1&amp;md5=097423d0d287d8ce5cce98daf525790f\"><b>Recent Rating Activity<\/b><\/a><b> web page. For additional information regarding the use and limitations of Credit Rating opinions, please view <\/b><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww3.ambest.com%2Fambv%2Fratingmethodology%2FOpenPDF.aspx%3Fri%3D1465&amp;esheet=53407860&amp;newsitemid=20230525005887&amp;lan=en-US&amp;anchor=Guide+to+Best%27s+Credit+Ratings&amp;index=2&amp;md5=1a9805c81e131934fd62a4ea3e45e59a\"><b>Guide to Best&#8217;s Credit Ratings<\/b><\/a><b>. For information on the proper use of Best\u2019s Credit Ratings, Best\u2019s Performance Assessments, Best\u2019s Preliminary Credit Assessments and AM Best press releases, please view <\/b><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.ambest.com%2Fratings%2Fguidetouse.pdf&amp;esheet=53407860&amp;newsitemid=20230525005887&amp;lan=en-US&amp;anchor=Guide+to+Proper+Use+of+Best%26%238217%3Bs+Ratings+%26amp%3B+Assessments&amp;index=3&amp;md5=92510235776d1b7a8b46f32ee766317f\"><b>Guide to Proper Use of Best\u2019s Ratings &amp; Assessments<\/b><\/a><b>.<\/b><\/p>\n<p><b>AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit <\/b><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.ambest.com%2F&amp;esheet=53407860&amp;newsitemid=20230525005887&amp;lan=en-US&amp;anchor=www.ambest.com&amp;index=4&amp;md5=176e57349d748ac270b01a0c7d6f61dd\"><b>www.ambest.com<\/b><\/a><b>.<\/b><\/p>\n<p class=\"bwalignc\"><b>Copyright \u00a9 2023 by A.M. Best Rating Services, Inc. and\/or its affiliates. ALL RIGHTS RESERVED.<\/b><\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230525005887r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20230525005887\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20230525005887\/en\/<\/a><\/span><\/p>\n<p><b>Raymond Thomson, CPCU, ARe, ARM<br \/>\n<\/b><br \/><b>Associate Director<br \/>\n<\/b><br \/><b>+1 908 439 2200, ext. 5621<br \/>\n<\/b><br \/><a rel=\"nofollow\" href=\"mailto:raymond.thomson@ambest.com\">raymond.thomson@ambest.com<\/a><\/p>\n<p><b>Christopher Sharkey<br \/>\n<\/b><br \/><b>Associate Director, Public Relations<br \/>\n<\/b><br \/><b>+1 908 439 2200, ext. 5159<br \/>\n<\/b><br \/><a rel=\"nofollow\" href=\"mailto:christopher.sharkey@ambest.com\">christopher.sharkey@ambest.com<\/a><\/p>\n<p><b>Erik Miller, CFA<br \/>\n<\/b><br \/><b>Director<br \/>\n<\/b><br \/><b>+1 908 439 2200, ext. 5187<br \/>\n<\/b><br \/><a rel=\"nofollow\" href=\"mailto:erik.miller@ambest.com\">erik.miller@ambest.com<\/a><\/p>\n<p><b>Al Slavin<br \/>\n<\/b><br \/><b>Senior Public Relations Specialist<br \/>\n<\/b><br \/><b>+1 908 439 2200, ext. 5098<br \/>\n<\/b><br \/><a rel=\"nofollow\" href=\"mailto:al.slavin@ambest.com\">al.slavin@ambest.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> New Jersey Europe United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Professional Services Insurance Finance<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20230525005887\/en\/828829\/3\/AM_Best_Logo.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>AM Best Places Credit Ratings of Validus Reinsurance, Ltd. and Subsidiary Under Review With Developing Implications; Comments on Credit Ratings of American International Group, Inc. and Its Other Property\/Casualty Subsidiaries OLDWICK, N.J.&#8211;(BUSINESS WIRE)&#8211;AM Best has placed under review with developing implications the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of \u201ca\u201d (Excellent) of Validus Reinsurance, Ltd. (Validus Re) (Hamilton, Bermuda) and Validus Reinsurance (Switzerland) Ltd. (Zurich, Switzerland), a subsidiary of Validus Holdings, Ltd. (Validus) (Hamilton, Bermuda) [NYSE:VR]. Concurrently, AM Best has commented that the Credit Ratings (ratings) of the remaining members of American International Group, Inc. (AIG) remain unchanged. These rating actions follow the recently announced definitive agreement whereby AIG will sell &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-places-credit-ratings-of-validus-reinsurance-ltd-and-subsidiary-under-review-with-developing-implications-comments-on-credit-ratings-of-american-international-group-inc-and-its-other-prop\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;AM Best Places Credit Ratings of Validus Reinsurance, Ltd. and Subsidiary Under Review With Developing Implications; Comments on Credit Ratings of American International Group, Inc. and Its Other Property\/Casualty Subsidiaries&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-760602","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>AM Best Places Credit Ratings of Validus Reinsurance, Ltd. and Subsidiary Under Review With Developing Implications; Comments on Credit Ratings of American International Group, Inc. and Its Other Property\/Casualty Subsidiaries - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-places-credit-ratings-of-validus-reinsurance-ltd-and-subsidiary-under-review-with-developing-implications-comments-on-credit-ratings-of-american-international-group-inc-and-its-other-prop\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AM Best Places Credit Ratings of Validus Reinsurance, Ltd. and Subsidiary Under Review With Developing Implications; Comments on Credit Ratings of American International Group, Inc. and Its Other Property\/Casualty Subsidiaries - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"AM Best Places Credit Ratings of Validus Reinsurance, Ltd. and Subsidiary Under Review With Developing Implications; Comments on Credit Ratings of American International Group, Inc. and Its Other Property\/Casualty Subsidiaries OLDWICK, N.J.&#8211;(BUSINESS WIRE)&#8211;AM Best has placed under review with developing implications the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of \u201ca\u201d (Excellent) of Validus Reinsurance, Ltd. (Validus Re) (Hamilton, Bermuda) and Validus Reinsurance (Switzerland) Ltd. (Zurich, Switzerland), a subsidiary of Validus Holdings, Ltd. (Validus) (Hamilton, Bermuda) [NYSE:VR]. Concurrently, AM Best has commented that the Credit Ratings (ratings) of the remaining members of American International Group, Inc. (AIG) remain unchanged. These rating actions follow the recently announced definitive agreement whereby AIG will sell &hellip; Continue reading &quot;AM Best Places Credit Ratings of Validus Reinsurance, Ltd. and Subsidiary Under Review With Developing Implications; Comments on Credit Ratings of American International Group, Inc. and Its Other Property\/Casualty Subsidiaries&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-places-credit-ratings-of-validus-reinsurance-ltd-and-subsidiary-under-review-with-developing-implications-comments-on-credit-ratings-of-american-international-group-inc-and-its-other-prop\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-25T21:34:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230525005887r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/am-best-places-credit-ratings-of-validus-reinsurance-ltd-and-subsidiary-under-review-with-developing-implications-comments-on-credit-ratings-of-american-international-group-inc-and-its-other-prop\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/am-best-places-credit-ratings-of-validus-reinsurance-ltd-and-subsidiary-under-review-with-developing-implications-comments-on-credit-ratings-of-american-international-group-inc-and-its-other-prop\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"AM Best Places Credit Ratings of Validus Reinsurance, Ltd. and Subsidiary Under Review With Developing Implications; 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Comments on Credit Ratings of American International Group, Inc. and Its Other Property\/Casualty Subsidiaries - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-places-credit-ratings-of-validus-reinsurance-ltd-and-subsidiary-under-review-with-developing-implications-comments-on-credit-ratings-of-american-international-group-inc-and-its-other-prop\/","og_locale":"en_US","og_type":"article","og_title":"AM Best Places Credit Ratings of Validus Reinsurance, Ltd. and Subsidiary Under Review With Developing Implications; Comments on Credit Ratings of American International Group, Inc. and Its Other Property\/Casualty Subsidiaries - Market Newsdesk","og_description":"AM Best Places Credit Ratings of Validus Reinsurance, Ltd. and Subsidiary Under Review With Developing Implications; Comments on Credit Ratings of American International Group, Inc. and Its Other Property\/Casualty Subsidiaries OLDWICK, N.J.&#8211;(BUSINESS WIRE)&#8211;AM Best has placed under review with developing implications the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of \u201ca\u201d (Excellent) of Validus Reinsurance, Ltd. (Validus Re) (Hamilton, Bermuda) and Validus Reinsurance (Switzerland) Ltd. (Zurich, Switzerland), a subsidiary of Validus Holdings, Ltd. (Validus) (Hamilton, Bermuda) [NYSE:VR]. Concurrently, AM Best has commented that the Credit Ratings (ratings) of the remaining members of American International Group, Inc. (AIG) remain unchanged. These rating actions follow the recently announced definitive agreement whereby AIG will sell &hellip; Continue reading \"AM Best Places Credit Ratings of Validus Reinsurance, Ltd. and Subsidiary Under Review With Developing Implications; Comments on Credit Ratings of American International Group, Inc. and Its Other Property\/Casualty Subsidiaries\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-places-credit-ratings-of-validus-reinsurance-ltd-and-subsidiary-under-review-with-developing-implications-comments-on-credit-ratings-of-american-international-group-inc-and-its-other-prop\/","og_site_name":"Market Newsdesk","article_published_time":"2023-05-25T21:34:00+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230525005887r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-places-credit-ratings-of-validus-reinsurance-ltd-and-subsidiary-under-review-with-developing-implications-comments-on-credit-ratings-of-american-international-group-inc-and-its-other-prop\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-places-credit-ratings-of-validus-reinsurance-ltd-and-subsidiary-under-review-with-developing-implications-comments-on-credit-ratings-of-american-international-group-inc-and-its-other-prop\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"AM Best Places Credit Ratings of Validus Reinsurance, Ltd. and Subsidiary Under Review With Developing Implications; 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