Endurance shareholders approve SOMPO deal at SGM

Endurance Specialty Holdings has announced that its common and preferred shareholders have voted in favour of the proposed merger of Endurance with and into Volcano International, an indirect, wholly owned subsidiary of SOMPO Holdings (SOMPO).

The vote took place at a special general meeting of Endurance common and preferred shareholders held in Pembroke, Bermuda.

Sompo agreed to acquire the Bermuda-based re/insurer in a $6.3 billion deal that was first announced in October 2016.

The merger remains subject to other customary closing conditions, including receipt of regulatory approvals. Endurance and SOMPO expect to complete the merger later in the first quarter of 2017.