Navigate this market better. Subscribe for FREE stock alerts and information.

Monday, June 23, 2014

Reinsurer Validus Holdings to purchase Western World Insurance for $690 mln, (NYSE: VR)

Reinsurer Validus Holdings Ltd said it would purchase specialty insurer Western World Insurance Group Inc for about $690 million in cash. The deal is expected to close in or about the end of the third quarter of 2014, Validus said in a statement. (Reporting By Neha Dimri in Bangalore; Editing by Savio D'Souza)

Validus Holdings, Ltd. is a holding company. The Company, through its subsidiaries, provides reinsurance coverage in the property, marine and specialty lines markets and insurance coverage in the same markets. Shares of VR fell by 0.3% or $-0.11/share to $36.88. In the past year, the shares have traded as low as $33.40 and as high as $40.71. On average, 683050 shares of VR exchange hands on a given day and today's volume is recorded at 463857.