Validus Holdings Ltd., the Bermuda-based reinsurer, is near an agreement to acquire specialty insurer Western World Insurance Group, people familiar with the matter said.

Validus could announce a deal valuing Western World at more than $600 million later this month, one of the people said, asking not to be identified because the matter isn’t public.

Western World, based in Franklin Lakes, N.J., provides commercial property, commercial auto and liability insurance, according to its website. The deal would give Validus a U.S. sales platform, one of the sources said.

Validus failed in a 2011 attempt to acquire Transatlantic Holdings Inc., a rival insurer that was sold to Alleghany Corp. for $3.7 billion. The company acquired Flagstone Reinsurance Holdings SA for about $623 million in a 2012 cash and stock deal.

A spokesman for Validus declined to comment. Officials at Western World didn’t immediately return phone calls seeking comment.

Validus shares have declined more than 6 percent this year, giving it a market value of about $3.4 billion.