Western World, based in Franklin Lakes, New Jersey, will operate as a separate business, Validus said today in a statement.
Validus, led by Chief Executive Officer Ed Noonan, has used deals to expand in businesses such as crop and catastrophe coverage. Western World specializes in excess-and-surplus lines, or coverage that isn't available from insurers licensed by a state.
Western World offers an “excellent U.S. distribution platform, outstanding management and industry-leading technology,” Noonan, 56, said in the statement. The deal “creates a franchise that will provide compelling products and services for our customers.”
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.