UPDATE 1-Endurance Specialty to buy Montpelier Re for $1.83 bln

March 31, 2015 11:47 AM

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March 31 (Reuters) - Property and casualty insurer Endurance Specialty Holdings Ltd will buy reinsurer Montpelier Re Holdings Ltd for about $1.83 billion in cash and stock, to boost its Lloyd's of London underwriting business.

Montpelier shareholders will get 0.472 Endurance share and $9.89 in cash for each share held, the companies said on Tuesday.

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