The new operation will be based in Hamburg which contains a heavy proportion of the German marine and specialty market and has recruited a senior executive from global broker Aon’s reinsurance unit to lead the new team.

In a statement announcing the move Validus said: "The new office will represent Validus Re, the Validus group’s Bermuda-based reinsurance operating subsidiary which focuses on short-tail classes of business, including property, marine, and other specialty.”

Maureen MacDonald, who has joined Validus Re as European Representative will head the office and its staff. Ms. MacDonald has approximately 20 years of insurance and reinsurance industry experience, and was recruited from her previous role as Executive Director at Aon Re Germany.

Conan Ward, Chief Underwriting Officer of Validus Re, said: “The addition of the Hamburg representative office demonstrates our continued commitment to exceptional customer service. The office will give us a local presence to better serve our growing European customer base as we continue to expand our presence in the region.”

Mr. Ward continued: “We are pleased to welcome Maureen MacDonald to Validus. Her industry knowledge and international experience will be great assets to the company, and I look forward to working side-by-side with her as we continue to grow the business.”

The group has expanded its reinsurance operations in recent year under its two wholly-owned subsidiaries, Validus Re and Talbot.

The announcement comes after the group successfully concluded its lengthy efforts to acquire Bermudan reinsurance entity IPC Group.