Transatlantic Holdings Confirms Receipt of Unsolicited Proposal from Validus Holdings

Transatlantic Holdings, Inc. TRH today confirmed that it has received an unsolicited proposal from Validus Holdings, Ltd. VR to acquire all of Transatlantic's outstanding shares of common stock. As previously announced on June 12, 2011, Transatlantic entered into a definitive merger agreement with Allied World Assurance Company Holdings, AG AWH, under which Transatlantic and Allied World would combine in a merger of equals, with stockholders of Transatlantic receiving 0.88 Allied World common shares for each share of Transatlantic common stock (together with cash in lieu of any fractional shares).