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Validus regroups business; announces new leadership roles

December 11, 2017

Validus has revealed a number of leadership appointments to reflect a reorganisation that has resulted in three new reportable business segments: reinsurance, insurance and asset management.

Among the changes, Talbot CEO Peter Bilsby has taken on the additional role of global head of insurance. Validus said the insurance segment focuses on specialty insurance within both the Lloyd’s insurance market and the US commercial insurance market.

Lixin Zeng assumes the added role of global head of asset management business alongside his position as CEO of AlphaCat Managers Ltd. This segment’s results reflect the company’s Bermuda-based investment adviser, managing capital for third parties and Validus through insurance-linked securities and other property catastrophe and specialty reinsurance investments.

Meanwhile, Kean Driscoll has been appointed global head of reinsurance while remaining as Validus Re CEO and president of Validus Holdings. The reinsurance segment operates globally and is primarily focused on treaty reinsurance.

Furthermore, Validus said in a regulatory filing that it had changed its primary lines of business from property, marine and specialty to property, specialty - short-tail, and specialty – other to “better align the company’s disclosures with its current strategy.”

Additionally, Validus revealed further leadership changes in the insurance segment as the carrier continues to focus on building out its US insurance platform.

Western World Insurance Group CEO Bob Livingston has additionally been appointed as chairman, whilst Validus Specialty CEO Jonathan Ritz has been given the added role of president of Western World Insurance Group.

Validus chairman and CEO Ed Noonan said that these internal appointments are a “strong reflection of the depth of the Validus management team.”

He added that the Bilsby, Driscoll and Zeng will be responsible for developing strategy and driving profitable growth across the three new reportable segments.