Validus Group subsidiaries have been assigned the following ratings.

Validus Reinsurance, Ltd.

Validus Reinsurance Ltd. is rated by A.M. Best and Moody’s.

A.M. Best Financial Strength Rating
A- (Excellent), Stable Outlook

Moody’s Insurance Financial Strength Rating
A3, Stable Outlook 

IPCRe Limited

A.M. Best Financial Strength Rating
A- (Excellent), Stable Outlook 

Talbot Syndicate 1183 at Lloyd’s

Talbot Syndicate 1183 trades under the ratings of the overall Lloyd’s market. For further information, please refer to the Lloyd’s site: www.lloyds.com

A.M. Best
A (Excellent), Stable Outlook

Fitch Ratings
A+ (Strong), Stable Outlook

Standard and Poor’s
A+ (Strong), Stable Outlook