Validus sees $30M net impact from October 2017 California Wildfires
Validus provided an initial estimate of Validus' net losses from the October 2017 California Wildfires and commented on the current U.S. House and Senate tax reform bills. Validus expects the net impact from the October 2017 California Wildfires to be $30M. This estimate is based on Validus' current evaluation of impacted contracts and information provided by customers and intermediaries. Validus' actual loss from this event may vary materially from this estimate due to uncertainties inherent in this preliminary information. The company also announced today that, based on the text of the current U.S. House and Senate tax reform bills, it does not expect the potential changes to U.S. tax law to have a material impact on the company's results of operations.