Endurance seeks approval for SOMPO deal


Endurance Specialty Holdings (Endurance) has scheduled a special general meeting of its shareholders to seek approval for the acquisition of 100 percent of the outstanding ordinary shares of Endurance by SOMPO Holdings.

The Endurance special general meeting will be held on Friday, January 27, 2017, at 9:00AM (Atlantic Time) at Endurance's offices in Bermuda.

Holders of Endurance ordinary shares and 6.35 percent non-cumulative preferred shares, Series C of record as of the close of business on December 28, 2016, will be entitled to vote as a single class at the Endurance special general meeting.

The proxy statement will provide voting instructions as well as detailed information for shareholders about the acquisition. Endurance expects to commence mailing the proxy statement to its shareholders on or around January 4, 2017.

The acquisition is subject to customary closing conditions, including Endurance shareholder approval and approval of applicable regulatory authorities. It is currently expected that the acquisition will be completed in the first quarter of 2017.

Endurance Specialty Holdings, Bermuda, SOMPO Holdings, Asia-Pacific, Insurance, M&A

Bermuda Re