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Endurance shareholders' vote for sale to Japanese insurer

Posted On: Jan. 31, 2017 6:04 AM CST

Bermuda-based insurer Endurance Specialty Holdings Ltd.'s shareholders have voted for the insurer's takeover by Japanese insurer Sompo Holdings Inc. for $6.3 billion, The Royal Gazette reported.

The deal is expected to close by the end of March. 

John Charman will continue as CEO of Endurance for the next five years, and he will also become chairman of the board of Sompo's international business. 

Endurance's head office will continue to remain in Bermuda after the takeover.
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