Bermuda-based reinsurance specialist Validus Holdings has appointed Mahmoud Abdallah to its board of directors with immediate effect, expanding the board to ten members.

Validus chairman and chief executive officer Ed Noonan said: "Mahmoud is a proven leader in the insurance and reinsurance sector and I am certain that he will be a valuable resource for our Board and management team as we focus on continuing to grow our business and building value for shareholders."

Abdallah is currently serving as the chairman and chief executive officer of MISR Insurance Holding Company, since November 2006.

Abdallah also served as chairman of the International Insurance Council and is also a Board member of Egypt Air, HSBC Egypt and the Metropolitan Opera in New York.

He holds over 30 years of experience in international reinsurance, direct insurance broking, mergers and acquisitions consulting, private-public globalization initiatives, and privatization of government owned insurance operations.