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Sompo Japan to buy Endurance Specialty for about $6.5 bln - Nikkei
October 4, 2016 / 7:01 PM / a year ago

Sompo Japan to buy Endurance Specialty for about $6.5 bln - Nikkei

Oct 4 (Reuters) - Insurer Sompo Japan Nipponkoa Insurance Inc, a unit of Sompo Holdings Inc, has firmed up plans to acquire U.S. casualty insurer Endurance Specialty Holdings Ltd, Nikkei reported on Tuesday.

The deal, which could be valued at about $6.5 billion, will be announced as soon as Wednesday, the Nikkei said. [ ]

Sompo Japan will buy all of Endurance’s outstanding shares without a tender offer, a move that is legal in Bermuda, the Nikkei said.

Sompo Japan Nipponkoa Insurance and Endurance Specialty Holdings were not immediately available for comment. (Reporting by Diptendu Lahiri in Bengaluru)

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