VALIDUS ANNOUNCES RECORD FULL YEAR 2013 NET OPERATING INCOME OF $578.7 MILLION AND
GROSS PREMIUMS WRITTEN OF $2.4 BILLION

BOOK VALUE PER DILUTED SHARE OF $36.23 AT DECEMBER 31, 2013

VALIDUS ALSO PROVIDES JANUARY 2014 REINSURANCE RENEWAL DETAILS
FOR VALIDUS RE AND ALPHACAT


Pembroke, Bermuda, January 30, 2014 - Validus Holdings, Ltd. (“Validus” or the “Company”) (NYSE: VR) today reported net income available to Validus for the year ended December 31, 2013 of $532.7 million, or $4.94 per diluted common share, compared to $408.4 million, or $3.99 per diluted common share, for the year ended December 31, 2012.
Net operating income available to Validus for the year ended December 31, 2013 was $578.7 million, or $5.38 per diluted common share, compared to $333.8 million, or $3.26 per diluted common share, for the year ended December 31, 2012.
Commenting on the financial results for the year ended December 31, 2013, Validus' Chairman and CEO Ed Noonan stated: 

“In 2013 Validus reported record full year gross premiums written of $2.4 billion and record full year net operating income of $578.7 million resulting in a 15.2% net operating return on average equity. 2013 was the eighth full year of operations for Validus and I am extremely proud of our growth from an ambitious startup company to a global leader in the short tail classes of reinsurance and insurance. We have strong and sustainable businesses in all three of our core operating units: Validus Re, Talbot and AlphaCat, each supported by excellent financial resources and run by talented business leaders.

Each of these businesses had significant success in 2013:

Talbot Underwriting, Ltd. reported record gross premiums written of $1.1 billion and record net operating income of $186.5 million as it continued to build on its track record of success in the Lloyd's market.

Validus Reinsurance, Ltd. reported record gross premiums written of $1.2 billion and net operating income of $498.2 million, a reflection of its leadership position in the short tail reinsurance market.

AlphaCat Managers wrote $147.0 million of gross premium and launched a fourth sidecar, AlphaCat 2014, Ltd. which was fully deployed with $204.0 million of available limit at January 1, 2014."

Fourth Quarter 2013 Results
Net income available to Validus for the three months ended December 31, 2013 was $95.3 million, or $0.93 per diluted common share, compared to a net loss attributable to Validus of ($90.7) million, or ($0.94) per diluted common share, for the three months ended December 31, 2012.
Net operating income available to Validus for the three months ended December 31, 2013 was $96.4 million, or $0.94 per diluted common share, compared to a net operating loss attributable to Validus of ($100.8) million, or ($1.05) per diluted common share, for the three months ended December 31, 2012.
Net income available to Validus, earnings per diluted share available to Validus, net operating income available to Validus, and operating earnings per diluted share available to Validus by significant entity for the three months ended December 31, 2013 were as follows:


Validus Holdings, Ltd. 29 Richmond Road, Pembroke, Bermuda HM08
Tel: +1-441.278.9000 Fax: +1-441.278.9090
www.validusholdings.com



The following information was filed by Validus Holdings Ltd (VR) on Thursday, January 30, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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