@j-++**))&& %% $$ ## "" !! l GU Mr 8v dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??: VALIDUS HOLDINGS LTD!Check the appropriate box below!VALIDUS REPORTS THIRD QUARTER 2 2Notable and NonNotable LossesShareholders EquityShare RepurchasesShareholders Eq (1)!For the three and nine months eFor the three and nine (1)For the three and nine (2)For the three and nine (3)For the three and nine (4)For the three and nine (5)!For the three months ended SeptFor the three months (1)!For the nine months ended Septe For the nine months ended (1)!As at September 30 2017 and DecAs at September 30 2017 (1)For the three and nine (6) NO TITLENO TITLE (1)!Consolidated Financial HighlighShareholders Eq (2)!Computation of Book Value per C Cash Flows!Consolidated Statements of LossIncome Statement!Computation of Earnings per Sha!Underwriting Income Statement V!Underwriting Results by Class oUnderwriting Results by (1)Underwriting Income (1)Underwriting Results by (2)Underwriting Results by (3)Underwriting Income (2)Underwriting Results by (4)Underwriting Results by (5)!AlphaCat Managers Segment Infor!AlphaCat Assets Under ManagemenCorporate and Investments !Segment Reconciliation Three mo!Segment Reconciliation Nine mon!Net Operating Loss Income attri!Consolidated Class of Business !Gross Premiums Written by Segme!Consolidated Analysis of Reserv!Consolidated Losses and Loss Ra!Losses and Loss Ratios by Class Losses and Loss Ratios by (1) Losses and Loss Ratios by (2)!Analysis of Loss Ratios by Segm!Consolidated Reinsurance Recove!Consolidated Fixed Maturity Por!Top Ten Exposures to Fixed IncoCapitalization !Probable Maximum Losses by Zone!Consolidated Validus Re Talbot U }7}$ }$}$ }$} $ }$} $ }$}$ }$}$ }$}$ }$ G VALIDUS HOLDINGS LTD8-K 10/26/2017OGConsolidated Investment Portfolio Composition and Net Investment Income Investment portfolio September 30, June 30, March 31, December 31, September 30, ~ ~ ~ ~ ~ 6.Managed investments, cash and cash equivalents and restricted cash-%U.S. Government and Government Agency~ [$~ t' ~ &+ ~ z1~ 31)Non-U.S. Government and Government Agency~ ~ b ~ ~ ~ ^~ )5-States, municipalities, political subdivision~ .~ ~ & ~ Z~ K5-Agency residential mortgage-backed securities~ 2~ z/ ~ N' ~ z)~ R'(.&Non-agency residential mortgage-backed~ Fa~ ~ . ~ ~ B securitiesU.S. corporate~ ΅Y~ ҟT ~ Z ~ ]~ V.]Non-U.S. corporate~ ~ b) ~ J ~ ~ BX Bank loans~ BY~ ! ~ " ~ ~"~ F#Asset-backed securities~ r~ ~ j ~ z' ~ >-%Commercial mortgage-backed securities~ -~ zL ~ Bm ~ 2~ Total fixed maturities~ 8~ f8 ~ #; ~ H~ J$Total short-term investments~ Z~ r ~ 7 ~ ~ Total other investments~ ~ a ~ ~ B~ +#Investment in investment affiliates~ ~ FO ~ ~ >!~ N!Cash and cash equivalents~ :~ 0 ~ % ~ Z~ bRestricted cash~ &~ ~ 4 ~ b~ ʛ0(Total managed investments, cash and cash~ ~ F ~ 5 ~ >~ xDl\PD8,CaB#|thdS4$ !"#$%&'()*+,-./0123456789:;<=>?+ #equivalents and restricted cash (a).!&Non-managed investments, cash and cash!!!!! ! ! !!!!!!!'"equivalents and restricted cash#Catastrophe bonds#~ #rG##~ ### ~ # S## ~ # ##~ # #####$Short-term investments$~ $"$$~ $v$$ ~ $ >Ǜ$$ ~ $$$~ $Na$$$$$!%Cash and cash equivalents%~ %?%%~ %f=%% ~ % ~@%% ~ %6G%%~ %K%%%%%&Restricted cash&~ &N&&~ &&& ~ & r&& ~ &Rj&&~ &J&&&&&/''Total non-managed investments, cash and'~ 'f''~ 'z'' ~ ' ^ͫ'' ~ '''~ ''''''0((cash equivalents and restricted cash (a)4),Total investments, cash and cash equivalents)~ )"Hd))~ )mX)) ~ ) N>)) ~ )N9))~ )v+)))))*and restricted cash++++++ + + +++++++,,,Three Months Ended,,Nine Months Ended-Net investment income-- September 30,--June 30,- - March 31,- -December 31,-- September 30,-- September 30,-- September 30,..~ ..~ .. ~ . . ~ ..~ ..~ ..~ ./Managed investments (a)///// / / ///////30+Fixed maturities and short-term investments0~ 000~ 000 ~ 0 00 ~ 000~ 000~ 0*00~ 0q01Other investments1~ 1~s11~ 1Nv11 ~ 1 Zk11 ~ 1jp11~ 111~ 1"U11~ 1B102(Cash and cash equivalents and restricted2~ 2:22~ 2222 ~ 2 22 ~ 222~ 2 22~ 2'22~ 2b!23cash!4Securities lending income4~ 444~ 444 ~ 4 644 ~ 4B44~ 4Z44~ 4^44~ 44%5Total gross investment income5~ 5^h55~ 5Ji55 ~ 5 c55 ~ 5P55~ 5֣55~ 5555~ 556Investment expenses6~ 6266~ 6v66 ~ 6 66 ~ 666~ 666~ 6666~ 66+7#Total managed net investment income7~ 7C77~ 7R77 ~ 7 577 ~ 7077~ 777~ 777~ 7u7888888 8 8 8888888-9%Annualized effective investment yield99ףp= @ 9%99@ 9%9 9 )\(@ 9%9 9@ 9%99p= ף@ 9%99= ףp=@ 9%99Q@ 9%!:- managed investments (b);;;;;; ; ; ;;;;;;;<Non-managed investments<<<<< < < <<<<<<<3=+Fixed maturities and short-term investments=~ ====~ =RF== ~ = /== ~ =f==~ ===~ ===~ =Q=0>(Cash and cash equivalents and restricted>~ >5>>~ >:>> ~ > >> ~ >6 >>~ >f>>~ >^>>~ >>?cashDlt@GA\)@ABCDEF/@'Total non-managed net investment income@~ @s@@~ @`@@ ~ @ >@@ ~ @#@@~ @.&@@~ @~@@~ @c@#ATotal net investment incomeA~ AAA~ AFAA ~ A ZtAA ~ A&TAA~ AAA~ AFAA~ AABC$D____________________________1E)Created by Morningstar Document Research.0F(http://documentresearch.morningstar.com/xzR=PF0*8X> @"FFEEDDAAAAAA AAAAAAAA@@@@@@ @@@@@@@@>>>>>> >>>>>>>>====== ========999999 99999999777777 77777777666666 66666666555555 55555555444444 44444444222222 22222222111111 11111111000000 00000000...... ........------ --------,,,,)))))) ))))'''''' ''''&&&&&& &&&&%%%%%% %%%%$$$$$$ $$$$###### #### l =. dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??: VALIDUS HOLDINGS LTD!Check the appropriate box below!VALIDUS REPORTS THIRD QUARTER 2 2Notable and NonNotable LossesShareholders EquityShare RepurchasesShareholders Eq (1)!For the three and nine months eFor the three and nine (1)For the three and nine (2)For the three and nine (3)For the three and nine (4)For the three and nine (5)!For the three months ended SeptFor the three months (1)!For the nine months ended Septe For the nine months ended (1)!As at September 30 2017 and DecAs at September 30 2017 (1)For the three and nine (6) NO TITLENO TITLE (1)!Consolidated Financial HighlighShareholders Eq (2)!Computation of Book Value per C Cash Flows!Consolidated Statements of LossIncome Statement!Computation of Earnings per Sha!Underwriting Income Statement V!Underwriting Results by Class oUnderwriting Results by (1)Underwriting Income (1)Underwriting Results by (2)Underwriting Results by (3)Underwriting Income (2)Underwriting Results by (4)Underwriting Results by (5)!AlphaCat Managers Segment Infor!AlphaCat Assets Under ManagemenCorporate and Investments !Segment Reconciliation Three mo!Segment Reconciliation Nine mon!Net Operating Loss Income attri!Consolidated Class of Business !Gross Premiums Written by Segme!Consolidated Analysis of Reserv!Consolidated Losses and Loss Ra!Losses and Loss Ratios by Class Losses and Loss Ratios by (1) Losses and Loss Ratios by (2)!Analysis of Loss Ratios by Segm!Consolidated Reinsurance Recove!Consolidated Investment Portfol!Top Ten Exposures to Fixed IncoCapitalization !Probable Maximum Losses by Zone!Consolidated Validus Re Talbot U }8}$ } }$}$ } }$ = VALIDUS HOLDINGS LTD8-K 10/26/2017QIConsolidated Fixed Maturity Portfolio Credit Quality and Maturity Profile September 30, 2017 December 31, 2016)!Fixed maturities - Credit Quality Fair Value % Fair Value % Managed fixed maturities AAA ~ k fffffE@ % ~ vӒ 33333E@ % AA~ ~333333 @ %~ ffffff#@ % A~ ƿ@3@ %~ v B 3@ %BBB~ -+@ %~ 7- *@ %7/Total investment grade managed fixed maturities~ 9U@ %~ "~ Z % BB~ @ %~ 333333@ % B~ 333333@ %~ & @ %CCC~ R? %~ ? % NR~ 333333@ %~ > ffffff@ %0(Total non-investment grade managed fixed~ 333333#@ %~ N% 333333&@ % maturities&Total managed fixed maturities~ 8W@ %~ H fffffFX@ % %Non-managed catastrophe bonds AAA~ ~ % ?~ %6.Total investment grade non-managed catastrophe~ ~ % ?~ % bonds BB~ ? %~ 333333? % B~ +? %~ F ? %DlZNB6*vt?/VFrAn] !"#$%&'()*+,-./0123456789:;< NR ~ L @ % ~ @ %.!&Total non-investment grade non-managed!~ !-!!!@ !%!~ ! !!! 333333@ !%"catastrophe bonds+##Total non-managed catastrophe bonds#~ #rG###@ #%#~ # ### 333333@ #%$Total fixed maturities$~ $J$$~ $ $%$~ $ QR$$~ $ $%%%%%%%% %% &&&September 30, 2017&& December 31, 2016+'#Fixed maturities - Maturity Profile'' Fair Value' '%'' Fair Value' ' % (Managed fixed maturities(((((( (( )Due in one year or less)~ ))))ffffff@ )%)~ ) ))) @ )%-*%Due after one year through five years*~ ****YF@ *%*~ * j*** 33333sJ@ *%.+&Due after five years through ten years+~ +ʯ +++#@ +%+~ + ^ +++ @ +%,Due after ten years,~ ,U,,,333333@ ,%,~ , ,,, ffffff@ ,%--~ -b---̌O@ -%-~ - &--- fffffFQ@ -%3.+Asset-backed and mortgage backed securities.~ .*h...ffffff?@ .%.~ . ^..~ . r .%&/Total managed fixed maturities/~ /8///W@ /%/~ / H/// fffffFX@ /%0000000 00 %1Non-managed catastrophe bonds111111 11 2Due in one year or less2~ 2*b222? 2%2~ 2 222 ? 2%-3%Due after one year through five years3~ 3333ffffff@ 3%3~ 3 333 @ 3%.4&Due after five years through ten years4~ 4P444? 4%4~ 4 44~ 4 4%5Due after ten years5 5?55~ 5 5%5 5 ?55~ 5 5%+6#Total non-managed catastrophe bonds6~ 6rG666@ 6%6~ 6 666 333333@ 6%7Total fixed maturities7~ 7J77~ 7 7%7~ 7 QR77~ 7 7%89$:____________________________1;)Created by Morningstar Document Research.0<(http://documentresearch.morningstar.com/>,0P|_fbFr.bmN}=PF0*8X> @zO<<;;::7777 6666 5555 4444 3333 2222 //// .... ---- ,,,, ++++ **** )))) '''''' '' &&&& $$$$ #### !!!! l dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??: VALIDUS HOLDINGS LTD!Check the appropriate box below!VALIDUS REPORTS THIRD QUARTER 2 2Notable and NonNotable LossesShareholders EquityShare RepurchasesShareholders Eq (1)!For the three and nine months eFor the three and nine (1)For the three and nine (2)For the three and nine (3)For the three and nine (4)For the three and nine (5)!For the three months ended SeptFor the three months (1)!For the nine months ended Septe For the nine months ended (1)!As at September 30 2017 and DecAs at September 30 2017 (1)For the three and nine (6) NO TITLENO TITLE (1)!Consolidated Financial HighlighShareholders Eq (2)!Computation of Book Value per C Cash Flows!Consolidated Statements of LossIncome Statement!Computation of Earnings per Sha!Underwriting Income Statement V!Underwriting Results by Class oUnderwriting Results by (1)Underwriting Income (1)Underwriting Results by (2)Underwriting Results by (3)Underwriting Income (2)Underwriting Results by (4)Underwriting Results by (5)!AlphaCat Managers Segment Infor!AlphaCat Assets Under ManagemenCorporate and Investments !Segment Reconciliation Three mo!Segment Reconciliation Nine mon!Net Operating Loss Income attri!Consolidated Class of Business !Gross Premiums Written by Segme!Consolidated Analysis of Reserv!Consolidated Losses and Loss Ra!Losses and Loss Ratios by Class Losses and Loss Ratios by (1) Losses and Loss Ratios by (2)!Analysis of Loss Ratios by Segm!Consolidated Reinsurance Recove!Consolidated Investment Portfol!Consolidated Fixed Maturity PorCapitalization !Probable Maximum Losses by Zone!Consolidated Validus Re Talbot U }y#}$ }}$ }U} $ VALIDUS HOLDINGS LTD8-K 10/26/2017;3Top Ten Exposures to Fixed Income Corporate Issuers September 30, 2017 Issuer (a)Fair Value (b)S&P Rating (c)/'% of Managed Investments, Cash and CashEquivalents JPMorgan Chase & Co. ~ BBB+ ? %Citigroup Inc.~ BBB+? %Morgan Stanley~ qBBB+ffffff? %Bank of America Corp.~ *BBB+ffffff? %Wells Fargo & Company~ v Affffff? %Goldman Sachs Group~ .BBB+ffffff? %%Bank of New York Mellon Corp.~ A? % AT&T Inc.~ *BBB+? %%British American Tobacco Plc.~ BBB? %Anheuser-Busch Inbev NV~ Ʊ A-? % Total~ 333333@ %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/>e0pdXL@zfQ:%|pH=PF0*8X> @ l )! dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??: VALIDUS HOLDINGS LTD!Check the appropriate box below!VALIDUS REPORTS THIRD QUARTER 2 2Notable and NonNotable LossesShareholders EquityShare RepurchasesShareholders Eq (1)!For the three and nine months eFor the three and nine (1)For the three and nine (2)For the three and nine (3)For the three and nine (4)For the three and nine (5)!For the three months ended SeptFor the three months (1)!For the nine months ended Septe For the nine months ended (1)!As at September 30 2017 and DecAs at September 30 2017 (1)For the three and nine (6) NO TITLENO TITLE (1)!Consolidated Financial HighlighShareholders Eq (2)!Computation of Book Value per C Cash Flows!Consolidated Statements of LossIncome Statement!Computation of Earnings per Sha!Underwriting Income Statement V!Underwriting Results by Class oUnderwriting Results by (1)Underwriting Income (1)Underwriting Results by (2)Underwriting Results by (3)Underwriting Income (2)Underwriting Results by (4)Underwriting Results by (5)!AlphaCat Managers Segment Infor!AlphaCat Assets Under ManagemenCorporate and Investments !Segment Reconciliation Three mo!Segment Reconciliation Nine mon!Net Operating Loss Income attri!Consolidated Class of Business !Gross Premiums Written by Segme!Consolidated Analysis of Reserv!Consolidated Losses and Loss Ra!Losses and Loss Ratios by Class Losses and Loss Ratios by (1) Losses and Loss Ratios by (2)!Analysis of Loss Ratios by Segm!Consolidated Reinsurance Recove!Consolidated Investment Portfol!Consolidated Fixed Maturity Por!Top Ten Exposures to Fixed Inco!Probable Maximum Losses by Zone!Consolidated Validus Re Talbot U }7}$ }$}$ }$} $ }$} $ }$}$ }$ ) VALIDUS HOLDINGS LTD8-K 10/26/2017Capitalization Capitalization September 30, June 30, March 31, December 31, September 30,~ ~ ~ ~ ~ Senior Notes (a)~ &~ ^ ~ ~ ~ 1 )Junior Subordinated Deferrable Debentures ~ " ~ " ~ " ~ " ~ " (JSDs) (a)0(Flagstone Junior Subordinated Deferrable~ Z4~ b, ~ ~ ~ (Debentures (JSDs) (a) Total debt~ /~ / ~ z/ ~ /~ / +#Redeemable noncontrolling interests~ 4E~ 2eL ~ z,e ~ C]~ r0_ /'Preferred shares, liquidation value (a)~ j~ j ~ ' ~ ' ~ ' 6.Ordinary shares, capital and surplus available~ v~ ~ & ~ N~ b1&to Validus common shareholders.&Accumulated other comprehensive (loss)~ ~ ~ . ~ B~ r Noncontrolling interests~ ~ ^ ~ - ~ f! ~ R "Total shareholders' equity~ ~ Fj ~ ~ f~ Total capitalization (b)~ 'j~ R ~ ~ m~ .5-Total capitalization available to Validus (c)~ ! ~ z0 ~ ~ > ~ n $Debt to total capitalizationffffff*@ %'@ % ffffff'@ % (@ %ffffff(@ %Dl}qei8E/=HSbj@Pn$- !"#$%&'(5 -Debt (excluding JSDs) to total capitalization ffffff@ % @ % @ % 333333@ % ffffff@ %.!&Debt to total capitalization available!!0@ !%!!ffffff/@ !%! ! 333330@ !%! !fffff0@ !%!!0@ !%" to Validus5#-Debt (excluding JSDs) to total capitalization##@ #%##@ #%# # @ #%# #333333@ #%##333333@ #%$available to Validus%$&____________________________1')Created by Morningstar Document Research.0((http://documentresearch.morningstar.com/m=PF0*8X> @]((''&&###### ####!!!!!! !!!! l dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??: VALIDUS HOLDINGS LTD!Check the appropriate box below!VALIDUS REPORTS THIRD QUARTER 2 2Notable and NonNotable LossesShareholders EquityShare RepurchasesShareholders Eq (1)!For the three and nine months eFor the three and nine (1)For the three and nine (2)For the three and nine (3)For the three and nine (4)For the three and nine (5)!For the three months ended SeptFor the three months (1)!For the nine months ended Septe For the nine months ended (1)!As at September 30 2017 and DecAs at September 30 2017 (1)For the three and nine (6) NO TITLENO TITLE (1)!Consolidated Financial HighlighShareholders Eq (2)!Computation of Book Value per C Cash Flows!Consolidated Statements of LossIncome Statement!Computation of Earnings per Sha!Underwriting Income Statement V!Underwriting Results by Class oUnderwriting Results by (1)Underwriting Income (1)Underwriting Results by (2)Underwriting Results by (3)Underwriting Income (2)Underwriting Results by (4)Underwriting Results by (5)!AlphaCat Managers Segment Infor!AlphaCat Assets Under ManagemenCorporate and Investments !Segment Reconciliation Three mo!Segment Reconciliation Nine mon!Net Operating Loss Income attri!Consolidated Class of Business !Gross Premiums Written by Segme!Consolidated Analysis of Reserv!Consolidated Losses and Loss Ra!Losses and Loss Ratios by Class Losses and Loss Ratios by (1) Losses and Loss Ratios by (2)!Analysis of Loss Ratios by Segm!Consolidated Reinsurance Recove!Consolidated Investment Portfol!Consolidated Fixed Maturity Por!Top Ten Exposures to Fixed IncoCapitalization !Consolidated Validus Re Talbot U }m}$ }}$ VALIDUS HOLDINGS LTD8-K 10/26/20171)Probable Maximum Losses by Zone and Peril 4 ,Consolidated (Validus Re, Talbot and Western !World) Estimated Net Loss ZonesPerils20 year return period50 year return period100 year return period250 year return period2*Validus Re Net Maximum Zonal Aggregate (a) United States Hurricane ~ ¤ ~ m ~ . ~ .= ~ k California Earthquake~ zI~ ~ u~ ~&~ cEurope Windstorm~ Z~ ~ ~ J~ *~ /X Japan Earthquake~ 6n~ ~ -~ /~ ;> JapanTyphoon~ >u~ X ~ "~ ~ &+:$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2 znbVJ6a:BL[j|pd<=PF0*8X> @# l 0! dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??: VALIDUS HOLDINGS LTD!Check the appropriate box below!VALIDUS REPORTS THIRD QUARTER 2 2Notable and NonNotable LossesShareholders EquityShare RepurchasesShareholders Eq (1)!For the three and nine months eFor the three and nine (1)For the three and nine (2)For the three and nine (3)For the three and nine (4)For the three and nine (5)!For the three months ended SeptFor the three months (1)!For the nine months ended Septe For the nine months ended (1)!As at September 30 2017 and DecAs at September 30 2017 (1)For the three and nine (6) NO TITLENO TITLE (1)!Consolidated Financial HighlighShareholders Eq (2)!Computation of Book Value per C Cash Flows!Consolidated Statements of LossIncome Statement!Computation of Earnings per Sha!Underwriting Income Statement V!Underwriting Results by Class oUnderwriting Results by (1)Underwriting Income (1)Underwriting Results by (2)Underwriting Results by (3)Underwriting Income (2)Underwriting Results by (4)Underwriting Results by (5)!AlphaCat Managers Segment Infor!AlphaCat Assets Under ManagemenCorporate and Investments !Segment Reconciliation Three mo!Segment Reconciliation Nine mon!Net Operating Loss Income attri!Consolidated Class of Business !Gross Premiums Written by Segme!Consolidated Analysis of Reserv!Consolidated Losses and Loss Ra!Losses and Loss Ratios by Class Losses and Loss Ratios by (1) Losses and Loss Ratios by (2)!Analysis of Loss Ratios by Segm!Consolidated Reinsurance Recove!Consolidated Investment Portfol!Consolidated Fixed Maturity Por!Top Ten Exposures to Fixed IncoCapitalization !Probable Maximum Losses by ZoneU }}$ }I"}$ }I;} $ } U}$ 0 VALIDUS HOLDINGS LTD8-K 10/26/2017`XConsolidated (Validus Re, Talbot and Western World) Realistic Disaster Scenarios ("RDS") Type Catastrophe Scenarios 2 *Estimated Consolidated (Validus Re, Talbot 7 /% of latest 12 Months Consolidated Net Premiums#and Western World) Net Loss Earned MarineLoss of major complex4,Total loss to all platforms and bridge linkse@ ~ % of a major oil complex Marine$Major cruise vessel incident/'US-owned cruise vessel sunk or severelyib@ ~ %damaged MarineMarine collision1)Fully laden tanker collides with a cruisefffff[@ @ %vessel in US waters Political RisksSouth East Asia1)Chinese economy has a "hard landing" with,f@ @ %6.sharp fall in growth rates; regional contagion Political RisksRussia.&The Russian corporate sector strugglesO@ @ %6.to deal with the effects of crashing commodityand stock prices Political RisksTurkey/'Severe economic crisis in Turkey due toI@ ~ %political upheaval Political RisksNigeria-%Severe economic, political and socialfffffH@ ~ %3+crisis in Nigeria leads to widespread civilunrest Political RisksMiddle East91US and Iran escalate into military confrontation;V@ @ %regional contagion AviationAviation collision3+Collision of two aircraft over a major city~ ffffff? % SatelliteSolar flare1)Large single or sequence of proton flaresYK@ @ %DlK?3' K"|E/oD !"#$%&'()*+,-./ 8 0results in loss to all satellites in synchronous!!!! !orbit" Satellite""Generic defect"4",Undetected defect in a number of operational""ffffff=@"" " 333333? "%####%#satellites causing major loss$ Terrorism$$Rockefeller Center$8$0Midtown Manhattan suffers a 2-tonne conventional$$X@$$ $ 333333@ $%%%%%% bomb blast& Terrorism&&One World Trade Center&6&.Lower Manhattan suffers a 2-tonne conventional&&fffffF@&& & ? &%''''' bomb blast( Liability((Professional lines(2(*Failure or collapse of a major corporation((333333E@(( ( 333333? (%) Liability))Professional lines))UK pensions mis-selling))3@)) ) ? )%* Cyber*"*Major data security breach*3*+Simultaneous cyber-attacks on organizations**fffffR@** ~ * *%++++6+.within one industrial sector; loss of customer,,,,,data$-____________________________1.)Created by Morningstar Document Research.0/(http://documentresearch.morningstar.com/$ ,S~%H#Bj=PF0*8X> @//..--**))((&&$$"" Root Entry FBook # !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~ !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~ !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~ !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~ !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~ !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~