8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 12, 2008

VALIDUS HOLDINGS, LTD.

(Exact name of registrant as specified in its charter)

Bermuda	001-33606	98-0501001
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

19 Par-La-Ville Road, Hamilton, HM 11 Bermuda
(Address of principal executive offices)

Registrant’s telephone number, including area code: (441) 278-9000

Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01 Regulation FD Disclosure.

     On February 12, 2008, Validus Holdings, Ltd. (“Validus”) released information regarding the high quality of its investment portfolio. A copy of this release is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.

     As of December 31, 2007, Validus had cash and invested assets of $3,106.7 million. As of such date, Validus had approximately $22.8 million of asset-backed securities with sub-prime collateral and $15.3 million of insurance enhanced asset-backed securities that have no underlying credit ratings, representing 0.74% and 0.49% of total cash and investments, respectively. Validus is providing the following additional disclosure on the composition of its portfolio in response to the recent volatility in the global credit markets.

     The information in this Current Report on Form 8-K, including the information set forth in Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits. The following exhibits are filed herewith:

Exhibit No.		Description
	99.1	Release regarding investment portfolio dated February 12, 2008

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: February 13, 2008

VALIDUS HOLDINGS, LTD. (Registrant)
By:	/s/ Joseph E. (Jeff) Consolino
Name:	Joseph E. (Jeff) Consolino
Title:	Executive Vice President & Chief Financial Officer

EX-99.1

Exhibit 99.1

	Validus Holdings, Ltd. Bermuda Commercial Bank Building 19 Par-la-Ville Road Hamilton, HM 11 Bermuda
February 12, 2008	Mailing Address:
	Suite 1790 48 Par-la-Ville Road Hamilton, HM 11 Bermuda
	Telephone: (441) 278-9000 Facsimile: (441) 278-9090 Website: www.validusre.bm

ADDITIONAL DISCLOSURE ON THE VALIDUS HOLDINGS, LTD. (“VALIDUS”)
CONSOLIDATED INVESTMENT PORTFOLIO (THE “PORTFOLIO”)

As of December 31, 2007, the Portfolio which includes cash and short-term investments had a market value of $3,106.7 million. Validus is providing the following additional disclosure on the composition of its Portfolio in response to the recent volatility in the global credit markets.

Validus Mortgage-Backed And Asset-Backed Securities Portfolio

Market Values (in USD MM) as of December 31, 2007

	RATING
	Gov’t		AAA		AA		A		BBB		BB		B		Other		Total
Mortgage-Backed Securities
Residential Mortgage-Backed GNMA		13.5		—		—		—		—		—		—		—		13.5
FNMA		205.9		—		—		—		—		—		—		—		205.9
Freddie Mac		202.3		—		—		—		—		—		—		—		202.3
Total Agency RMBS		421.7		—		—		—		—		—		—		—		421.7
Non-Agency RMBS		—		302.0		—		—		—		—		—		—		302.0
Total Residential Mortgage-Backed		421.7		302.0		—		—		—		—		—		—		723.7
Commercial Mortgage-Backed		—		158.5		—		—		—		—		—		—		158.5
Total Mortgage-Backed Securities		421.7		460.5		—		—		—		—		—		—		882.2
Asset-Backed Securities
Sub Prime		—		22.8		—		—		—		—		—		—		22.8
Credit Cards		—		33.0		—		—		—		—		—		—		33.0
Autos		—		127.8		—		—		—		—		—		—		127.8
Other		—		8.2		—		—		—		—		—		—		8.2
Total Asset-Backed Securities		—		191.8		—		—		—		—		—		—		191.8
Total Asset-Backed and Mortgage-Backed Securities																		1,074.0

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Residential Mortgage Backed Securities (“RMBS”) (23.2% of total cash and investments*)

GSE RMBS (13.6%)
The Portfolio contains $421.7 million in GSE residential mortgage-backed securities.

Validus’ GSE RMBS allocation has a weighted-average effective duration of 2.1 years, a market price of 101.7 and corresponding yield of 5.15%, a book yield of 5.46% and an unrealized gain of approximately $4.3 million.

Non-Agency RMBS -— Prime (5.1%)
The Portfolio’s $158.6 million prime non-Agency RMBS allocation consists entirely of AAA rated securities. 58% of Validus’ prime non-Agency allocation consists of securities whose loans were originated in 2005 and prior; 25% of the prime RMBS allocation was issued in 2006. The allocation has a weighted average current credit enhancement of 7.2%, which continues to increase as the securities pay down. The allocation has a weighted-average FICO score of 740 and a loan-to-value ratio of 65.9%.

Validus’ overall prime non-agency allocation has a weighted-average effective duration of 2.0 years; a market price of 98.4 and corresponding yield of 5.79%; an equivalent weighted-average book yield of 5.83%; and an unrealized gain of approximately $863,000.

Non-Agency RMBS -— Alt-A (4.6%)
The Portfolio’s $143.4 million Alt-A non-Agency RMBS allocation consists entirely of AAA rated securities. 45% of Validus’ Alt-A non-Agency allocation consists of securities whose loans were originated in 2006 and prior. The allocation has a weighted average current credit enhancement of 25.7%, which continues to increase as the securities pay down. The allocation has a high weighted-average FICO score of 711 and a loan-to-value ratio of 76.6%.

Validus’ overall Alt-A non-agency allocation has a weighted-average effective duration of 1.3 years; a market price of 96.10 and corresponding yield of 8.08%; a book yield of 6.02%; and an unrealized loss of approximately $4.3 million.

ABS (6.2% of total cash and investments *)

Auto & Credit Card ABS — Non-Sub Prime (5.4%)
The Portfolio’s $169.0 million allocation to auto- and credit card-backed ABS consists entirely of AAA rated securities. 69% of Validus’ auto- and credit card-backed allocation consists of securities whose loans were originated in 2006 and prior.

Validus’ overall auto- and credit card-backed allocation has a weighted-average effective duration of 0.8 years; a market price of 100.20 and corresponding yield of 4.99%; a book yield of 5.30%; and an unrealized gain of approximately $378,000.

Home Equity ABS — Sub Prime (0.7%)
The Portfolio’s $22.8 million sub prime HEL ABS allocation consists entirely of AAA rated securities. 71% of Validus’ sub prime allocation consists of securities issued in 2006 and prior. The allocation has a weighted-average current credit enhancement of 33.3% and very short weighted-average life of 1.1 years. The credit enhancement will continue to increase as the securities pay down. The securities have a weighted-average FICO score of 632 and a loan-to-value ratio of 79.5%.

Validus’ overall home equity-backed ABS allocation has a weighted-average effective duration of 0.2 years; a market price of 98.57 and corresponding yield of 8.31%; a book yield of 5.09%; and an unrealized loss of approximately $339,000.

*Total cash and investments at 12/31/07 (MMs) = $3,106.7

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CMBS (5.1% of total cash and investments *)

The Portfolio’s $158.5 million CMBS allocation is well-diversified and consists solely of AAA rated stable, seasoned deals that have collateral with transparent histories. 81% of Validus’ CMBS allocation consists of securities issued in 2003 and prior; 7% of the portfolio’s allocation was issued in 2005 and 2006. The allocation has a weighted average current credit enhancement of 28.7%, which continues to increase as the securities pay down. The average loan-to-value ratio is 68.2% and the debt service coverage ratio in excess of 1.53.

Validus’ overall CMBS allocation has a weighted-average effective duration of 2.3 years; a market price of 101.41 and corresponding yield of 5.18%; a book yield of 5.26%; and an unrealized gain of approximately $1.3 million.

Validus Analysis of Exposure To Financial Guarantors

As of December 31, 2007, the Portfolio has approximately $15.3 million of insurance enhanced asset backed securities (“Insured Investments”) that have no underlying credit ratings. Detail by insurer for the Insured Investments is as follows:

	Market Value		% of Cash and
Insurer	($MMs)		Investments*
FSA	$	9.1		0.30	%
AMBAC		3.6		0.11	%
MBIA		2.6		0.08	%
	$	15.3		0.49	%

*Total cash and investments at 12/31/07 (MMs) = $3,106.7

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The following table presents the Portfolio by rating category at December 31, 2007, with the Insured Investments shown at the then applicable rating or at the underlying rating without giving effect to insurance enhancement:

Uninsured Investments (A)						Insured Investments (B)						Underlying Ratings of Insured Investments (C)						Total Investments (with Insured Ratings) (A) + (B)						Total Investments (with Underlying Ratings) (A) + (C)
			Market				Market		Market				Market		Market				Market		Market				Market		Market
Rating	Market Value		Value (%)			Rating	Value		Value (%)			Rating	Value		Value (%)			Rating	Value		Value (%)			Rating	Value		Value (%)
AAA	$	2,014.2		84.2	%	AAA1	$	15.3		100.0	%	AAA		—		0.0	%	AAA	$	2,029.5		84.2	%	AAA	$	2,014.2		83.6	%
AA+		37.5		1.6	%	AA+		—		0.0	%	AA+		—		0.0	%	AA+		37.5		1.6	%	AA+		37.5		1.6	%
AA		51.1		2.1	%	AA		—		0.0	%	AA		—		0.0	%	AA		51.1		2.1	%	AA		51.1		2.1	%
AA-		96.6		4.0	%	AA-		—		0.0	%	AA-		—		0.0	%	AA-		96.6		4.0	%	AA-		96.6		4.0	%
A+		88.2		3.7	%	A+		—		0.0	%	A+		—		0.0	%	A+		88.2		3.7	%	A+		88.2		3.7	%
A		70.7		2.9	%	A		—		0.0	%	A		—		0.0	%	A		70.7		2.9	%	A		70.7		2.9	%
A-		29.9		1.2	%	A-		—		0.0	%	A-		—		0.0	%	A-		29.9		1.2	%	A-		29.9		1.2	%
BBB+		7.9		0.3	%	BBB+		—		0.0	%	BBB+		—		0.0	%	BBB+		7.9		0.3	%	BBB+		7.9		0.3	%
NR		—		0.0	%	NR		—		0.0	%	NR 2		15.3		100.0	%	NR		—		0.0	%	NR 2		15.3		0.6	%
Sub-total	$	2,396.1		100.0	%		$	15.3		100.0	%			15.3		100.0	%		$	2,411.4		100.0	%		$	2,411.4		100.0	%
Cash & Short-term investments																				695.3						695.3
Total cash and investments																			$	3,106.7					$	3,106.7

¹ Includes insured investments without underlying ratings.

² The insured investments have no underlying ratings.

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