3 October 2014News

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.




More on this story

News
5 September 2023   The insurer has agreed to have $400 million of protection for reserves.
News
4 September 2023   The European regulator says the acquisition of AIG units raises ‘no competition concerns’.
News
18 August 2023   The redemption will takes place prior to the sale to RenRe.

More on this story

News
5 September 2023   The insurer has agreed to have $400 million of protection for reserves.
News
4 September 2023   The European regulator says the acquisition of AIG units raises ‘no competition concerns’.
News
18 August 2023   The redemption will takes place prior to the sale to RenRe.