Reinsurer Validus Holdings to buy Western World Insurance for $690 mln

June 23 Mon Jun 23, 2014 4:30pm EDT

June 23 (Reuters) - Reinsurer Validus Holdings Ltd said it would buy 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)