Validus Holdings Ltd., a Bermuda-based reinsurance company, has reached an agreement to buy IPC Holdings Ltd. for about $1.7 billion. The Validus bid beat an offer by Flagstone Reinsurance Holdings Ltd.

Skadden, Arps, Slate, Meagher & Flom advised Validus with a team that included M&A partners Roger Aaron, Stephen Arcano and Todd Freed.