BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.

To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.

To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.

Login Register Subscribe

Tianjin explosions, Chile quake cause millions in losses for Validus


Validus Holdings Ltd. said Tuesday that it will report a loss of $63.9 million due to the recent earthquake in Chile and a series of explosions at the Port of Tianjin in China.

The Aug. 12 explosions at the port will result in $43.9 million in losses, with its Validus Reinsurance Ltd. shouldering $32.7 million and Talbot Holdings Ltd. shouldering $11.2 million, the insurer and reinsurer said in a statement.

The Sept. 16 earthquake in Chile will cost the company $20.0 million, with Validus Re seeing a net impact of $15.3 million and Talbot, $4.7 million.

Validus said the loss estimate could increase.

“The absence of significant client loss reporting on these events has caused the loss estimates to be established primarily on the basis of exposure analysis and industry loss estimates,” the insurer said in the statement.

Estimates of insured losses in the China blasts have ranged up to $1.5 billion.

Read Next

  • Oil rig explosion loss hits Validus quarterly results

    Validus Holdings Ltd. saw its second-quarter profit drop 56.7% to $81.7 million compared with the same period last year due in large part to significant losses in an oil rig explosion, the reinsurer said Wednesday.