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A.M. Best has commented that the ratings of Validus Holdings, Ltd. (Validus ) (Bermuda) (NYSE: VR) and its operating subsidiaries remain unchanged following Validus' recent announcement that it has signed a definitive agreement to acquire Western World Insurance Group, Inc. (Western World) for $690 million in cash.
Validus has a solid track record of successfully integrating acquired companies into its overall operations. Additionally, the size of the transaction is digestible from an operational and financial perspective. From a strategic standpoint, Western World will allow Validus to enhance and expand its business profile by providing a U.S. specialty commercial insurance distribution platform. The transaction is anticipated to close in the third quarter of 2014, subject to regulatory approvals and other customary closing conditions.
The methodology used in determining these ratings is Best's Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best's rating process and contains the different rating criteria employed in the rating process. Best's Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.
A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.
Copyright © 2014 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.
A.M. Best Company, Inc.
Gale Guerra, 908-439-2200, ext. 5069
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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