Endurance & Montpelier Re get key shareholder approvals for merger

The Endurance Specialty Holdings Ltd. and Montpelier Re insurance and reinsurance merger is getting nearer to completion, with the receipt of key shareholder approvals after votes undertaken by both of the firms.

Bermudian reinsurance firm Montpelier Re has received approval at a special general meeting from its common shareholders, voting in favour of the proposed merger with Millhill Holdings Ltd., a subsidiary of Endurance.

Fellow Bermudian insurance and reinsurance firm Endurance also received approval from its ordinary shareholders for the proposed Endurance ordinary share issuance in connection with the merger.

The merger between these two firms is still on track to complete in this quarter, with receipt of regulatory approvals still required.

Once completed, Endurance will gain access to an established insurance-linked securities (ILS) investment platform and collateralized reinsurance operation, in Blue Capital Management and it will be fascinating to see how that initiative develops under the larger re/insurance platform.

Also read:

– Gaining third-party capital unit positive for Endurance: Rating agencies.

– Blue Capital to add capital flexibility, new income source for Endurance.

– Endurance to buy Montpelier Re for $1.83B, to include Blue Capital.