Validus nears $600m Western World acquisition

Validus Holdings, the Bermuda-based reinsurer, is reportedly close to an agreement to acquire Western World Insurance Group, a specialty US insurer, in a deal that could be worth $600 million.

Western World provides commercial property, commercial auto, and liability insurance.

Validus is no stranger to the acquisition trail. In 2012, it acquired Flagstone Reinsurance for about $623 million; in 2011 it tried to acquire Transatlantic Holdings, which was eventually sold to Alleghany Corp for $3.7 billion.

Western World was put up for sale in April this year in a process managed by Goldman Sachs.