Under the terms of the agreement, Montpelier shareholders will receive 0.472 shares of the parent of the combined company for each share of Montpelier common shares they own and a cash payment of $9.89 to be funded by way of a pre-closing dividend to be paid by Montpelier to its common shareholders.

The Appleby team was led by Partner Brad Adderley, with Associates Matthew Ebbs-Brewer, Kendall Evans and Gary Harris serving as primary team members.

Brad Adderley commented: “It was a pleasure working with Montpelier, a valued and long standing client on this transaction which will create a strong platform for the combined group enterprises and occupy a strong position in the market. Appleby’s deep understanding of the global insurance industry and leading market position allowed us to be an important partner to Montpelier throughout this process. It also caps off a stellar year for the Bermuda insurance team which has advised on many of the recent re/insurance mergers and acquisitions.”

The combined group headquarters will continue to be located in Bermuda, and the transaction will allow Endurance to benefit from Montpelier’s ability to offer reinsurance services globally through subsidiaries in the U.S. and U.K., together with assisting Endurance to enter into managing insurance and reinsurance investment products for third parties. The merger has been unanimously approved by both boards and is expected to close in the third quarter of 2015.

For further information, please contact Kanelli Marsh.

Twitter LinkedIn Email Save as PDF
More Deals
27 Nov 2019 | Deals

Appleby advised T&D Holdings on USD 1.8 Billion joint acquisition with Carlyle Group of AIG’s Fortitude Re

Appleby advised T&D Holdings on all Bermuda law issues relating to the purchase of a 25% stake in Fo...

Contributors: Gary Harris
15 Oct 2019 | Deals

Appleby Bermuda acted for sellers of Sandell Holdings Ltd.

Appleby was instructed by the shareholders of Sandell Holdings Ltd. in connection with the sale of t...

Contributors: Josephine Noddings
4 Oct 2019 | Deals

Appleby Bermuda advised on Southern Cross NEXT subsea cable project

Appleby advised the Southern Cross Group of Bermuda companies in respect of all aspects of Bermuda l...

Contributors: Andrew Kuzma, Sarita Ebbin
3 Oct 2019 | Deals

Appleby acts in Artex/Horseshoe Transaction

Appleby acted as counsel to the sellers of Horseshoe Insurance Services Holdings Ltd. in connection ...

16 Aug 2019 | Deals

Appleby represented HSBC in a GBP 7 billion longevity swap

Appleby represented HSBC in a £7 billion longevity swap and reinsurance transaction which is the se...

Contributors: Brad Adderley
6 Aug 2019 | Deals

Appleby advises China Oil and Gas Group Limited on its issuance of USD 320 million senior notes

Appleby acted as Bermuda and BVI counsel for China Oil and Gas Group Limited (China Oil and Gas) in ...

Contributors: Paul Cheuk, Minnie Choi
29 Jul 2019 | Deals

Appleby assists global crypto investor XBTO on acquiring their Digital Asset Business Licence in Bermuda

Appleby acted as XBTO’s Bermuda counsel on their application for a Digital Asset Business Licence ...

2 Jul 2019 | Deals

Appleby advised Swiss Re in connection with a new catastrophe bond transaction

Matterhorn Re Ltd. is the vehicle which was established and has utilised a special purpose and segre...

Contributors: Gary Harris, Laura Burns
25 Jun 2019 | Deals

Appleby acted as counsel to Ed Broking in the formation and licensing of their Bermuda operation

Appleby acted as Bermuda counsel to Ed Broking (Bermuda) Limited in connection with its registration...