A new start-up reinsurer, Validus Reinsurance, is being sponsored by...
A new startup reinsurer, Validus Reinsurance, is being sponsored by Aquiline Capital Partners, a new insurance investment vehicle run by former Marsh & McLennan chairman Jeffrey Greenberg and a private equity firm, sources have said.
The reinsurer, which will write property catastrophe and other specialty lines, will be headed by chairman and chief executive Edward J Noonan.
Noonan retired as president and chief executive of American Re in 2002 and was most recently chief executive of United America Indemnity.