Reinsurance

Endurance Specialty Holdings agreed to buy Montpelier Re for about $1.83 billion in cash and stock months after abandoning a hostile bid for another Bermuda-based insurance company.

BlackRock, the worlds largest money manager, and Evan Greenbergs Ace, are forming a reinsurance venture that is seeking to raise $800 million to $1.3 billion.

The reinsurer says it is more than just a hedge fund investing vehicle.

Munich Re will continue buying back shares as declining prices and lower investment income undermine earnings.

Hannover Re rose the most in more than two years after saying it will pay a special dividend and fourth-quarter profit climbed more than analysts estimated.

The global economy has changed how businesses insure their cargo, creating new opportunities for savvy insurers who understand the risks of moving products internationally.