Validus Holdings, Ltd. Announces Pricing of its Initial Public Offering

Validus Holdings, Ltd. (NYSE: VR - News) announced the pricing on July 24, 2007 of its initial public offering of 15,244,888 common shares at US$22.00 per common share.



The shares will be listed on the New York Stock Exchange and will trade under the symbol "VR" beginning July 25. The offering proceeds will be used to repay interim financing for the acquisition of Talbot Holdings Ltd., to support the future growth of Validus Re and for general corporate purposes.
Goldman, Sachs & Co. and Merrill Lynch & Co. are joint book-running managers for the offering. Co-managers for the offering include Deutsche Bank Securities, JPMorgan, UBS Investment Bank, Wachovia Securities, Cochran Caronia Waller, Dowling & Partners Securities, LLC, Keefe Bruyette & Woods, ABN AMRO Rothschild LLC, Scotia Capital, Calyon Securities (USA) Inc., Comerica Securities, HSBC, and ING Financial Markets. The underwriters have the option to purchase up to an additional 2,286,733 common shares to cover over-allotments.
A copy of the prospectus for the offering can be obtained from Goldman, Sachs & Co. Attn: Prospectus Department 85 Broad Street, New York, NY 10004 Fax: +1-212-902-9316 Email: prospectus-ny@ny.email.gs.com or from Merrill Lynch & co. Attn: Prospectus Department 4 World Financial Center, New York, New York 10080 Telephone: +1-866-500-5408.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Validus Holdings, Ltd.
Validus Holdings, Ltd. is a provider of reinsurance and insurance, conducting its operations worldwide through two wholly-owned subsidiaries, Validus Reinsurance, Ltd. ("Validus Re") and Talbot Holdings Ltd. ("Talbot"). Validus Re is a Bermuda based reinsurer focused on short-tail lines of reinsurance. Talbot is the Bermuda parent of the specialty insurance group primarily operating within the Lloyd's insurance market through Syndicate 1183.
Cautionary Note Regarding Forward-Looking Statements
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. This release or any other written or oral statements made by or on behalf of Validus Holdings, Ltd. and its subsidiaries (collectively, the "Company") may include forward-looking statements which reflect the Company's current views with respect to future events and financial performance. Forward-looking statements involve the Company's current assessment of risks and uncertainties, which may cause actual events and results and prospects to differ materially from those expressed or implied in these statements. Certain information regarding such risks and uncertainties is set forth in the Company's filings with the Securities and Exchange Commission. Such risks and uncertainties include, but are not limited to, the following: unpredictability and severity of catastrophic events; the Company's ability to obtain and maintain ratings, which may be affected by its ability to raise additional equity or debt financings, as well as other factors described herein; adequacy of the Company's risk management and loss limitation methods; cyclicality of demand and pricing in the reinsurance market; the Company's limited operating history; the Company's ability to successfully implement its business strategy during "soft" as well as "hard" markets; adequacy of the Company's loss reserves; continued availability of capital and financing; the Company's ability to identify, hire and retain, on a timely and unimpeded basis and on anticipated economic and other terms, experienced and capable senior management as well as underwriters, claims professionals and support staff; acceptance of the Company's business strategy, security and financial condition by rating agencies and regulators, as well as by brokers and reinsureds; competition, including increased competition, on the basis of pricing, capacity, coverage terms or other factors; potential loss of business from one or more major reinsurance brokers; the Company's ability to implement, successfully and on a timely basis, complex infrastructure, distribution capabilities, systems, procedures and internal controls, and to develop accurate actuarial data to support the business and regulatory and reporting requirements; general economic and market conditions (including inflation, interest rates and foreign currency exchange rates) and conditions specific to the reinsurance markets in which the Company expects to operate; the integration of Talbot Holdings Ltd. or other businesses the Company may acquire; accuracy of those estimates and judgments utilized in the preparation of the Company's financial statements, including those related to revenue recognition, insurance and other reserves, reinsurance recoverables, investment valuations, intangible assets, bad debts, income taxes, contingencies, litigation and any determination to use the deposit method of accounting, which, for a relatively new insurance and reinsurance company like the Company, are even more difficult to make than those made in a mature company because of limited historical information; acts of terrorism, political unrest and other hostilities or other unforecasted and unpredictable events; availability to the Company of retrocessions to manage its gross and net exposures and the cost of such retrocessions; the failure of retrocessionaires, producers or others to meet their obligations to the Company; the timing of loss payments being faster or the receipt of reinsurance recoverables being slower than anticipated by the Company; changes in domestic or foreign laws or regulations, or their interpretations; changes in accounting principles or the application of such principles by regulators; and statutory or regulatory or rating agency developments, including as to tax policy and matters and reinsurance and other regulatory matters such as the adoption of proposed legislation that would affect Bermuda-headquartered companies and/or Bermuda-based insurers or reinsurers. In addition, other general factors could affect the Company's results, including: (a) developments in the world's financial and capital markets and the Company's access to such markets; (b) changes in regulations or tax laws applicable to the Company, including, without limitation, any such changes resulting from the recent investigations relating to the insurance industry and any attendant litigation; and (c) the effects of business disruption or economic contraction due to terrorism or other hostilities. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

EDS Signs Claims Administration Contract With Dean Health Insurance

EDS today announced an agreement with Dean Health Insurance, one of the largest and most diversified managed care organizations in the Midwest, to implement EDS' MetaVance® Administration and Finance System. This agreement will allow Dean Health Insurance to improve productivity and efficiency, enable growth and ultimately improve service to its 275,000 members. Financial details were not disclosed.



"Dean Health Insurance is not only committed to providing quality care to our members, but also evolving our business to meet the needs of our constituents by introducing new and innovative services," said Lon Sprecher, chief operating officer of Dean Health Insurance. "EDS understands our growth strategies, and the flexibility of MetaVance will allow us to adapt quickly to the changing marketplace, in turn improving our ability to bring new products and services to our members."
MetaVance is a highly scalable system designed to automate core administrative processes such as enrollment, provider management and claims processing and features a flexible, adaptable, service-oriented architecture. MetaVance's member-centric data model uses advanced technology and user-defined rules to increase efficiency, reduce costs and improve time to market for new consumer-focused products.
"Our success with Dean Health Insurance demonstrates EDS' ability to deliver to a wide range of health plans and reaffirms our healthcare expertise, including our deep knowledge of claims processing," said Sean Kenny, EDS Global Healthcare Industry vice president. "EDS' goal is to help Dean Health Insurance improve productivity and focus on its strategic growth plans."
EDS provides healthcare services to more than 250 clients in 20 countries and processes more than one billion claims annually. With more than 6,500 professionals dedicated to supporting healthcare clients worldwide, EDS' global healthcare experience spans payer, provider, governmental and life science communities.
About Dean Health Insurance
Dean Health Insurance and its subsidiaries, Dean Health Plan and Navitus Health Solutions, comprise the health care financing arm of the integrated care delivery system of Dean Health System and SSM of Wisconsin serving south central Wisconsin. Dean provides an entire range of fully-insured and self-insured products to the commercial, Medicare and Medicaid markets. Dean has a combined member enrollment of 275,000 members and is the largest MCO (Managed Care Organization) in Wisconsin, operating since 1983. Dean Health Plan holds an excellent accreditation from NCQA for its commercial HMO product. Navitus Health Solutions provides pharmacy benefit management (PBM) solutions to employers, government agencies, and insurance organizations across the United States.
About EDS
EDS (NYSE: EDS - News) is a leading global technology services company delivering business solutions to its clients. EDS founded the information technology outsourcing industry 45 years ago. Today, EDS delivers a broad portfolio of information technology and business process outsourcing services to clients in the manufacturing, financial services, healthcare, communications, energy, transportation, and consumer and retail industries and to governments around the world. Learn more at http://www.eds.com.
The statements in this news release that are not historical statements, including statements regarding the amount of new contract values, are forward- looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond EDS' control, which could cause actual results to differ materially from such statements. For information concerning these risks and uncertainties, see EDS' most recent Form 10-K. EDS disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

INSURANCE NEWS

Global insurance premiums grew by 9.7% in 2004 to reach $3.3 trillion. This follows 11.7% growth in the previous year. Life insurance premiums grew by 9.8% during the year, thanks to rising demand for annuity and pension products. Non-life insurance premiums grew by 9.4%, as premium rates increased. Over the past decade, global insurance premiums rose by more than a half as annual growth fluctuated between 2% and 10%.[citation needed]Advanced economies account for the bulk of global insurance. With premium income of $1,217 billion in 2004, North America was the most important region, followed by the EU (at $1,198 billion) and Japan (at $492 billion). The top four countries accounted for nearly two-thirds of premiums in 2004. The United States and Japan alone accounted for a half of world insurance premiums, much higher than their 7% share of the global population. Emerging markets accounted for over 85% of the world’s population but generated only 10% of premiums. The volume of UK insurance business totaled $295 billion in 2004 or 9.1% of global premiums.

INSURANCE news-1

Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent loss. Insurance is defined as the equitable transfer of the risk of a potential loss, from one entity to another, in exchange for a premium. Insurer, in economics, is the company that sells the insurance. Insurance rate is a factor used to determine the amount, called the premium, to be charged for a certain amount of insurance coverage. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of studyLife insurance and savingCertain life insurance contracts accumulate cash values, which may be taken by the insured if the policy is surrendered or which may be borrowed against. Some policies, such as annuities and endowment policies, are financial instruments to accumulate or liquidate wealth when it is needed. See life insurance.In many countries, such as the U.S. and the UK, the tax law provides that the interest on this cash value is not taxable under certain circumstances. This leads to widespread use of life insurance as a tax-efficient method of saving as well as protection in the event of early death.In U.S., the tax on interest income on life insurance policies and annuities is generally deferred. However, in some cases the benefit derived from tax deferral may be offset by a low return. This depends upon the insuring company, the type of policy and other variables (mortality, market return, etc.). Moreover, other income tax saving vehicles (e.g., IRAs, 401(k) plans, Roth IRAs) may be better alternatives for value accumulation. A combination of low-cost term life insurance and a higher-return tax-efficient retirement account may achieve better investment return. and practice.Both gambling and insurance transfer risk and reward. The similarity ends there.Gambling transactions offer the possibility of either a loss or a gain. Gambling creates losers and winners. Insurance transactions do not present the possibility of gain. Insurance offers financial support sufficient to replace loss, not to create pure gain.Gamblers can continue spending, buying more risk than they can afford to pay for. Insurance buyers can only spend up to the limit of what carriers will accept to insure; their loss is limited to the amount of the premium.Gamblers create a risk that may have no link whatsoever to their personal and family situation. Insurance buyers must have an insurable interest in the insurance transaction. Insurance transactions are built around an exogenous relationship, usually economic or familial.Gamblers, by creating new risk transfer without regard to existing risk, are risk seekers. Insurance buyers are risk avoiders, creating risk transfer in terms of their need to reduce exposure to large losses