Bermudian Validus completes US acquisition


Validus Holdings, the Bermuda-based re/insurer, has completed its acquisition of US specialty lines insurer Western World.

Western World’s owners received $690 million in cash in exchange for 100 percent of the outstanding stock of Western World. It will continue to operate as a standalone business led by current management.

Ed Noonan, Validus’ chairman and chief executive officer (CEO), said: “The acquisition of Western World is another important step in building our global specialty insurance business. Western World is an excellent company which complements our market leading short-tail operations in Bermuda and London, and holds tremendous potential for expansion of products and capabilities in the world’s largest insurance market.

Validus Holdings, Western World, Bermuda, North America

Bermuda Re