Validus sees $379mn in Q3 cat losses

Validus expects to report $378.9mn in losses stemming from
third-quarter catastrophes, including the impact on premiums earned
and losses attributable to AlphaCat.
Excluding the net effect on earned premiums, its share of net
losses and related expenses came to $412.7mn, Validus said late
yesterday.
An aggregate loss at that level would contract the company's
H1 average shareholder's equity by 8.8 percent, an analysis by
The Insurance Insider shows.As such,
the erosion is relatively limited, giv