Validus Holding Ltd. (NYSE: VR) has completed its purchase of all of Flagstone Reinsurance Holdings SA’s (NYSE: FSR) outstanding shares for $632.2 million.

Flagstone, headquartered in Hauppauge, N.Y., is a reinsurance company that sold off its Lloyd’s of London segment to ANV Holdings BV for $49.7 million. 

The purchase price works out to $2 per share in cash. The deal was announced in August. 

Validus is a Bermuda-based insurance underwriter. 

Financial services industry