February 8: Business Briefs

Ironshore to join council

Ironshore Inc. has accepted an invitation to join the Council for Insuring Private Clients (CIPC) as a corporate member.

CIPC, founded by MarketScout in cooperation with ACE, AIG and Fireman’s Fund, focuses on best practices, agent education, and advocacy as related to insuring the personal assets of private clients.

Shaun Kelly, president of Ironshore, said in a press release: “Ironshore looks forward to working with the CIPC to improve insurance services to private clients, where we have established recognized expertise within the specialty high net worth insurance sector as a provider in the non-admitted market.”

Validus dividends

Validus Holdings, Ltd. said its board of directors has authorized the following capital management actions:

1) A special dividend in the amount of $2.00 per common share and common share equivalent for which each outstanding warrant is exercisable. The special dividend is payable in cash on February 26, 2013 to shareholders and warrant holders of record as of February 19, 2013.

2) An increase in the Validus regular quarterly dividend to $0.30 from $0.25 per common share and common share equivalent for which each outstanding warrant is exercisable. The board also approved the payment of the regular quarterly dividend which is payable on March 29, 2013 to shareholders and warrant holders of record as of March 15, 2013.

3) An increase in the Validus common share repurchase authorization to $500.0 million.

The Company expects the repurchases to be made from time to time in the open market or in privately negotiated transactions.

Assured dividend

Assured Guaranty Ltd. declared a quarterly dividend of US$0.10 per common share,  from US$0.09 per common share that was paid on December 5, 2012.

The dividend is payable on March 7, 2013 to shareholders of record at the close of business on February 21, 2013.

Merrill Lynch

Constantine (Dinos) Iordanou, chairman, president and CEO of Arch Capital Group Ltd., is scheduled to present at the Bank of America Merrill Lynch Insurance Conference in New York.

The presentation will take place on February 14 at 11:10am Eastern Time.

A live webcast will be available during the presentation, and the information will be archived for approximately 90 days, at the following website address: http://www.veracast.com/webcasts/baml/insurance2013/id33254290.cfm.

Validus Holdings, Ltd. is also scheduled to present at the Bank of America Merrill Lynch 2013 Insurance Conference.

Validus presentation is on Wednesday, February 13 at 2:20pm (EST).

A live webcast of the presentation will be available online at the “Investor Relations” section of the Company’s website, located at www.validusholdings.com. A replay of the webcast will be available at the “Investor Relations” section of the Company’s website through May 15, 2013.

Alterra dividend

Alterra Capital Holdings Limited announced that its board of directors declared a dividend of $0.16 per share. The dividend is payable on March 5, 2013, to shareholders of record as of February 19, 2013.

Aspen dividends

The board of directors of Aspen Insurance Holdings Limited  has declared a quarterly cash dividend on Aspen’s ordinary shares of $0.17 per ordinary share.

The dividend is payable on March 7, 2013 to the holders of record as of the close of trading on February 21, 2013.

Aspen’s board of directors also declared a cash dividend on its 5.625 per cent Perpetual Preferred Income Equity Replacement Securities (“Perpetual PIERS”) of $0.703125 per Perpetual PIERS.

The dividend is payable on April 1, 2013 to the holders of record as of the close of business on March 15, 2013.

In addition, Aspen’s board of directors declared a dividend on the 7.401 per cent Perpetual Non- Cumulative Preference Shares (the “7.401 per cent Perpetual Preference Shares”) of $0.462563 per 7.401 per cent Perpetual Preference Share. The dividend is payable on April 1, 2013 to the holders of record as of the close of business on March 15, 2013.

Aspen’s Board of Directors also declared a dividend on the 7.250 per cent Perpetual Non-Cumulative Preference Shares (the “7.250 per cent Perpetual Preference Shares”) of $0.4531 per 7.250 per cent Perpetual Preference Share. The dividend is payable on April 1, 2013 to the holders of record as of the close of business on March 15, 2013.