Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Greenberg Jeffrey W.
  2. Issuer Name and Ticker or Trading Symbol
VALIDUS HOLDINGS LTD [VR]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
535 MADISON AVENUE, 24TH FLOOR
3. Date of Earliest Transaction (Month/Day/Year)
06/04/2010
(Street)

NEW YORK, NY 10022
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Warrants (right to buy) $ 22 06/04/2010   J(1)     4,433.09   (2) 12/12/2015 Common Stock 4,433.09 (1) 84,228.74 I See Footnotes (3) (6)
Warrants (right to buy) $ 17.5 06/04/2010   J(1)     146,185.43   (2) 12/12/2015 Common Stock 146,185.43 (1) 2,777,523.23 I See Footnotes (3) (6)
Warrants (right to buy) $ 17.5               (2) 12/12/2015 Common Stock 64,991.1   64,991.1 I See Footnotes (4) (6)
Warrants (right to buy) $ 17.5               (2) 12/12/2015 Common Stock 116,503.24   116,503.24 I See Footnotes (5) (6)
Warrants (right to buy) $ 17.5               (2) 12/12/2015 Common Stock 10,018.49   10,018.49 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Greenberg Jeffrey W.
535 MADISON AVENUE
24TH FLOOR
NEW YORK, NY 10022
  X      

Signatures

 Jeffrey W. Greenberg   06/08/2010
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) These warrants are being transferred in connection with an in-kind pro rata distribution for no consideration in respect of a limited partnership interest in Aquiline Holdings LP.
(2) These warrants are exercisable at any time prior to their expiration date.
(3) These warrants are held by Aquiline Capital Partners LLC.
(4) These warrants are held by Aquiline Financial Services Fund (Offshore) L.P.
(5) These warrants are held by Aquiline Financial Services Fund L.P.
(6) The investment manager of each of Aquiline Finanical Services Fund L.P. and Aquiline Financial Services Fund (Offshore) L.P. is Aquiline Capital Partners LLC. The sole member of Aquiline Capital Partners LLC is Aquiline Holdings LLC. The sole member of Aquiline Holdings LLC is Aquiline Holdings LP. The general partner of Aquiline Holdings LP is Aquiline Holdings GP Inc. The sole stockholder of Aquiline Holdings GP Inc. is Jeffrey W. Greenberg. Mr. Greenberg also serves as a managing principal of Aquiline Capital Partners LLC.
 
Remarks:
Pursuant to Rule 16a-1(a)(2)(ii)(B) under the Securities Exchange Act of 1934, as amended (the "Act"), Mr. Greenberg may be deemed to be the beneficial owner of the securities reported herein only to the extent of his pecuniary interest therein.  Pursuant to Rule 16a-1(a)(4) under the Act, this filing shall not be deemed to be an admission that Mr. Greenberg is, for purposes of Section 16 of the Act or otherwise, the beneficial owner of any securities reported herein in excess of such amount.

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