Montpelier Re — Merger or Acquisition (March 2015)
11 slides from Montpelier Re's merger presentation, Mar 31, 2015
Slide 1: Acquisition of Montpelier Re Investor Presentation
Exhibit 99.1 Endurance: March 31, 2015 Acquisition of Montpelier Re Investor Presentation
Slide 2: Forward-Looking Statements Cautionary Note
Forward Cautionary Some statements include “project,” We All forward-looking agriculture availability, business changes and described Additionally, to component anticipated (I) response included actual as Additional The Montpelier may This solicitation the ENDURANCE AMENDMENT SUPPLEMENT 2website eff
Slide 3: Forward-Looking Statements and Participants (cont'd)
Forward Participants (cont’d) about 2014. Annual Additional All Regulation In the description The performance other combined Net premiums believes awith Return GAAP. measures Contact Endurance Media Mark 3Email: manner this proposed references premiums combined GAAP, users Semer Endurance’s Informat
Slide 4: Key Transaction Terms
Key Transaction 1.21x Value share Consideration 0.472 Financing Pro Ownership Management Approvals •stake Preferred Redemption 1. 4Notes Approval $1.8 Consideration $450 $1.4 Current Increase Regulatory Expected Figures Forma Transaction in basis: Montpelier Endurance billion million favor Endurance
Slide 5: Transaction Highlights
Transaction Increased Market compete access Diversified Across Geographies Financially Stronger Sheet Position volatility Manageable •Integration 1. Notes 52. Transaction With Good-sized Montpelier’s Insurance Meaningful Expected Neutral Potential Montpelier Straightforward Based Figures and common
Slide 6: Transaction Increases Scale vs. Peers
Transaction 2014 Sheet Peer $Bn XL PRE RE Y ACGL AWH AHL ENH VR RNR AGII 0MRH 1. Notes 2. 63. 45.1 As Pro 85.7 +2.4 $Bn Companies +12 Gross 2.9 + (1) of CGL 1.9 RE 0.7 2.9 forma AXS 4.8 Y AHL MRH 12/31/2014, 16 AWH 2.1 VR AGII 7.5 MRH ENH ACGL 14.1 0Premiums Provides 10.6 ENH for 2.9 3.6 43.6 1.6 83
Slide 7: Combined Business Meaningfully Diversified
Combined Meaningfully Overall Endurance Reinsurance: $1.2Bn Collateralized 29% Other + 18% 23% Property 48% Catastrophe 12% Reinsurance 30% 3% GPW: 1. Notes 72. =Montpelier Based 5% Insurance Insurance Catastrophe Reinsurance Collateralized Insurance 27% $2.9Bn $1.7Bn business Property onBusiness (1
Slide 8: Transaction Benefits: Montpelier and Endurance Capabilities
Transaction Montpelier Endurance on growth Lloyd’s complementary businesses platform •manager AUM(1) Blue and capital of 1. 8Notes Accelerates Profitable, Provides Leading Creates As capital specialty BCRH Capital ofand plans •1/1/2015 with capability Focus for insurance-linked good-sized expand (NY
Slide 9: Key Financial Transaction Summary
Financially Transaction Key Modest Enhanced Summary EPS •ROE Book 1. 9Notes More Neutral Excluding Financial (1) (1) Value than premium ••to Immediately of financial Accretive Compelling book Per economics $60MM Financial non-recurring Drivers Share reduction value flexibility vs. of•Impact accretiv
Slide 10: Enhanced Endurance Balance Sheet and Capital Strength
Enhanced Endurance Cash Common Total Debt (Debt Book 1. Notes Montpelier 10 As /Assets and Capital of Value +Total Preferred) 12/31/2014, Invested Equity Balance Montpelier common per Capital $9.6Bn $3.7Bn Share $2.8Bn Assets /Sheet 14.2% Total $3.6Bn shares. pro $2.1Bn $61.33 Pro forma $1.5Bn Stren
Slide 11: Conclusion
Conclusionbalance Transaction Combined Manageable 11 isintegration provides financially sheet important risk and attractive with capital new similar toposition strategic Endurance cultures, iscapabilities significantly shareholders compatible to Endurance enhanced underwriting and provides with with
Montpelier RE Holdings — Merger or Acquisition (March 2015) on 6ix