NU Online News Service, March 31, 3:36 p.m. EDT
Less than a month after Max Capital and IPC Re announced their boards approved a merger deal valued at roughly $900 million, Validus Holdings has presented the IPC board with a rival bid valued at $1.68 billion.
Both reinsurance firms are located in Bermuda. The Validus offer was detailed in a press statement today, which includes the full text of a letter sent by Edward Noonan, chairman and chief executive officer of Validus, to IPC President and CEO James Bryce, describing the Validus offer as a "superior amalgamation proposal."
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
