Montpelier Re has raised $100m through a private sale of trust preferred securities. The trust preferred securities were issued by a newly-formed statutory trust, Montpelier Capital Trust III, which is wholly-owned by the company.
Anthony Taylor, chairman and chief executive, said: "With this most recent step Montpelier's total capital rises to over $1.4bn. Including Blue Ocean and Rockridge, we are now underwriting in respect of approximately $1.7bn in total capital.
"I believe that we are well positioned to capitalise on the favourable opportunities we expect to see in our core business lines during 2006."
