We are upgrading Montpelier Re Holdings Ltd. (NYSE:MRH) to Neutral from Underperform as the company is vending off Montpelier U.S. Insurance Company (MUSIC) to focus more on its short-tail reinsurance underwriting. Also, the divestiture will also help the company deploy capital for its Bermuda and London platforms.
MUSIC will be divested to Selective Insurance Group Inc. (SIGI) for a total consideration of $55 million.
Counting on the other positives, Montpelier continues to benefit from its … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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