Bli medlem
Bli medlem

Du är här

2017-01-27

Endurance Specialty Holdings Ltd: Endurance Announces Results of Special General Meeting of Shareholders in Connection with Acquisition by SOMPO

PEMBROKE, Bermuda - January 27, 2017 - Endurance Specialty Holdings Ltd.
(NYSE:ENH) ("Endurance") today announced that Endurance common and preferred
shareholders voted in favor of the proposed merger (the "Merger") of
Endurance with and into Volcano International Limited, an indirect, wholly
owned subsidiary of SOMPO Holdings, Inc. ("SOMPO"), at a special general
meeting of Endurance common and preferred shareholders held today in
Pembroke, Bermuda.

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.

About Endurance Specialty Holdings Ltd.

Endurance Specialty Holdings Ltd. is a global specialty provider of property
and casualty insurance and reinsurance. Through its operating subsidiaries,
Endurance writes agriculture, professional lines, property, marine and
energy, and casualty and other specialty lines of insurance and catastrophe,
property, casualty, professional lines and specialty lines of reinsurance.
Endurance maintains excellent financial strength as evidenced by the ratings
of A (Excellent) from A.M. Best (XV size category), A (Strong) from Standard
and Poor's and A2 from Moody's on our principal operating subsidiaries.
Endurance's headquarters are located at Waterloo House, 100 Pitts Bay Road,
Pembroke HM 08, Bermuda and its mailing address is Endurance Specialty
Holdings Ltd., Suite No. 784, No. 48 Par-la-Ville Road, Hamilton HM 11,
Bermuda. For more information about Endurance, please
visitwww.endurance.bm.Cautionary Note

Regarding Forward-Looking Statements

Some of the statements in this press release may include, and Endurance may
make related oral, forward-looking statements which reflect our current views
with respect to future events and financial performance. Such statements may
include forward-looking statements both with respect to us in general and the
insurance and reinsurance sectors specifically, both as to underwriting and
investment matters. These statements may also include assumptions about the
proposed transaction (including its benefits, results, effects and timing).
Statements which include the words "should," "would," "expect," "intend,"
"plan," "believe," "project," "anticipate," "seek," "will," and similar
statements of a future or forward-looking nature identify forward-looking
statements in this press release for purposes of the U.S. federal securities
laws or otherwise. We intend these forward-looking statements to be covered
by the safe harbor provisions for forward-looking statements in the Private
Securities Litigation Reform Act of 1995.

The proposed transaction is subject to risks and uncertainties, including: (A)
that Endurance and SOMPO may be unable to complete the proposed transaction
because, among other reasons, conditions to the closing of the proposed
transaction may not be satisfied or waived; (B) uncertainty as to the timing
of completion of the proposed transaction; (C) the inability to complete the
proposed transaction due to the failure to satisfy one or more conditions to
completion of the proposed transaction, including that a governmental entity
may prohibit, delay or refuse to grant approval for the consummation of the
transaction; (D) the occurrence of any event, change or other circumstances
that could give rise to the termination of the merger agreement; (E) risks
related to disruption of management's attention from Endurance's ongoing
business operations due to the proposed transaction; (F) the effect of the
announcement of the proposed transaction on Endurance's relationships with
its distributors, operating results and business generally and (G) the
outcome of any legal proceedings to the extent initiated against Endurance,
SOMPO or others following the announcement of the proposed transaction, as
well as Endurance's and SOMPO's management's response to any of the
aforementioned factors.

The foregoing review of important factors should not be construed as
exhaustive and should be read in conjunction with the other cautionary
statements that are included herein and elsewhere, including the risk factors
included in Endurance's most recent annual report on Form 10-K, the quarterly
reports on Form 10-Q for the quarters ended June 30, 2016 and September 30,
2016 and other documents of Endurance on file or furnished to the U.S.
Securities and Exchange Commission ("US SEC"). Any forward-looking statements
made in this press release are qualified by these cautionary statements, and
there can be no assurance that the actual results or developments anticipated
by Endurance will be realized or, even if substantially realized, that they
will have the expected consequences to, or effects on, Endurance or its
business or operations. Except as required by law, the parties undertake no
obligation to update publicly or revise any forward-looking statement,
whether as a result of new information, future developments or otherwise.

Contacts:

Investor Relations
Phone: +1 441 278 0988
Email: investorrelations@endurance.bm

Media Relations
Mark Semer and Thomas Davies
Kekst and Company
Phone: 212 521 4802/4873
Email: mark-semer@kekst.com and tom-davies@kekst.com

---------------------------------------
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Endurance Specialty Holdings Ltd via Globenewswire

Författare Hugin

Tala om vad ni tycker

Tala om vad ni tycker

Ni är just nu inne på en betaversion av nya aktiespararna. Lämna gärna feedback på vad ni tycker i formuläret nedan.