Validus Expects Loss of $25M to $50M from New Zealand Earthquake

Validus Holdings, Ltd. VR today commented on worldwide loss activity occurring in the first quarter of 2011, including the February 22, 2011 New Zealand earthquake. The Company has taken note of the preliminary loss estimates from commercial catastrophe model vendors and conducted an analysis of its exposed insurance and reinsurance contracts as well as the outward reinsurance, retrocession and industry loss warranty protections purchased by the Company. Based on this analysis, the Company believes that for insured industry losses ranging from NZ$8.0 billion to NZ$10.0 billion (approximately US$6.0 billion to US$7.5 billion at current exchange rates), the Company currently expects its loss from the February 2011 New Zealand Earthquake to be in the range of US$25.0 million to US$50.0 million.