Hashtag: #MontpelierRe
Endurance Completes Montpelier Acquisition
Endurance Specialty Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, has completed its acquisition of Montpelier Re Holdings Ltd. The acquisition was originally announced on March 31, 2015. John R. Charman, Chairman and Chief Executive Officer of Endurance, commented, “Endurance’s strategic... Read more of this article
Endurance Receives All Acquisition Approvals
Endurance Specialty Holdings Ltd. a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced today that it has received all regulatory approvals required in connection with its previously announced acquisition of Montpelier Re Holdings Ltd. The transaction is scheduled to be completed after the close of trading... Read more of this article
Montpelier Shareholders Vote For Merger
Bermuda-based Endurance Specialty Holdings Ltd. and Montpelier Re Holdings Ltd. announced that Montpelier common shareholders voted in favour of the proposed merger with Millhill Holdings Ltd., a direct, wholly-owned subsidiary of Endurance, at a special general meeting of Montpelier common shareholders held on June 30, 2015, in Pembroke, Bermuda. It... Read more of this article
Montpelier Re Declares $9.89 Special Dividend
Bermuda-based Montpelier Re Holdings Ltd. announced that its Board of Directors has declared, subject to certain conditions, the previously announced special dividend of $9.89 per common share in connection with its pending acquisition by Endurance Specialty Holdings Ltd. The special dividend would be payable prior to the effective time of the Merger... Read more of this article
Montpelier Declares Second Quarter Dividends
Bermuda-based Montpelier Re Holdings Ltd. has declared a quarterly dividend of $0.20 per common share and a quarterly dividend of $0.554688 per 8.875% Non-Cumulative Preferred Share, Series A.]. The Common Share dividend will be payable on June 30, 2015, to each common shareholder of record on June 16, 2015, and the Preferred Share dividend will be... Read more of this article
Endurance To Hold Special General Meeting
Bermuda-based Endurance Specialty Holdings Ltd. announced that it has scheduled a special general meeting of its shareholders to seek approval for the issuance of Endurance ordinary shares to holders of Montpelier Re Holdings Ltd. common shares in connection with Endurance’s previously announced acquisition of Montpelier. The special general... Read more of this article
Endurance Receives HSR, BMA ‘No-Objections’
Endurance Specialty Holdings Ltd. today [Apr 29] announced that it has” received early termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and all required regulatory no-objections from the Bermuda Monetary Authority” with respect to its previously announced acquisition of Montpelier... Read more of this article
Montpelier Cancels Upcoming Earnings Call
In light of the pending merger among Montpelier Re Holdings Ltd. and Endurance Specialty Holdings Ltd. , the Company will not be releasing its first quarter 2015 earnings on April 30, 2015 and will not hold a conference call to discuss its earnings on May 1, 2015, as previously announced. “The Company expects to file its first quarter 2015 Form... Read more of this article
Fitch: Montpelier’s Ratings On Negative Watch
Fitch Ratings has placed Montpelier Re Holdings [MRH] ratings on Negative Watch, including its ‘A-’ Issuer Default Rating [IDR] and the ‘A’ Insurer Financial Strength [IFS] rating for Montpelier Reinsurance Ltd., the company’s principal reinsurance operating subsidiary. Fitch’s action follows the announcement that... Read more of this article
AM Best: Endurance Ratings Remain Unchanged
A.M. Best has commented that the financial strength rating [FSR] of A [Excellent] and the issuer credit ratings [ICR] of “a” of Endurance Specialty Insurance Ltd. and its affiliates remain unchanged following the announcement of the plans to acquire Montpelier Re Holdings Ltd. Concurrently, A.M. Best has commented that the ICR of “bbb” and... Read more of this article
Appleby Advised Montpelier For Acquisition
Appleby acted as counsel to Montpelier Re Holdings Ltd. in relation to its sale to the Endurance Speciality group for a purchase price to be satisfied by a mixture of shares and cash which values Montpelier at c.USD1.83bn and structured by way of merger with an Endurance subsidiary. Under the terms of the agreement, Montpelier shareholders will... Read more of this article
Endurance To Acquire Montpelier Re Holdings
The mergers in Bermuda’s re/insurance industry continue, with Endurance Specialty Holdings Ltd and Montpelier Re Holdings Ltd today [Mar 31] announcing that they have entered into a definitive merger agreement in which Endurance will acquire Montpelier. Endurance will acquire Montpelier for consideration of 0.472 shares of Endurance and $9.89... Read more of this article
