Validus profits dip in fourth quarter

Validus Holdings saw its net operating income fall by 13.5
percent in the fourth quarter amid competitive pressures.
The carrier, which comprises Lloyd's operation Talbot, US
insurer Western World, insurance-linked securities manager AlphaCat
and Validus Re, booked net operating income of $105.4mn during Q4,
down from $121.9mn the previous year.
Although the $1.24 earnings per share marked a deterioration
from the $1.34 the firm booked in Q4 2014, it was in line with Wall
Street's consensus esti