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.

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