Paul Manders, Executive Vice President, Marine & Specialty Underwiter at Validus Re, who had been with the company since its launch in 2005, was reported to be departing the company, along with others in his team. The Validus Re Marine Reinsurance team underwrites a worldwide account of marine classes including hull, cargo and third-party liabilities inclusive of P&I coverage.
Last month it was reported that Validus Re CEO Jeff Clements and head of US property Chris Silvester were both leaving the company. Chris Schaper, already CEO of AIG Re, was named as Clements’s replacement. Validus Re is owned by AIG.