X0206 3 2015-07-31 0 0001179755 ENDURANCE SPECIALTY HOLDINGS LTD ENH 0001265345 DAVIS MORGAN W C/O ENDURANCE SPECIALTY HOLDINGS LTD. WATERLOO HOUSE, 100 PITTS BAY ROAD PEMBROKE D0 HM 08 BERMUDA 1 0 0 0 Ordinary Shares, par value $1.00 per share 11488 D Ordinary Shares, par value $1.00 per share 5664 I IRA Pursuant to that certain Agreement and Plan of Merger, dated as of March 31, 2015, by and among Montpelier Re Holdings Ltd. ("Montpelier"), Endurance and Millhill Holdings Ltd., a direct, wholly-owned subsidiary of Endurance ("Merger Sub"), Montpelier merged with and into Merger Sub, with Merger Sub surviving such merger as a direct, wholly-owned subsidiary of Endurance (the "Merger"). The total Endurance ordinary shares beneficially owned by the Reporting owner was derived from the total number of Montpelier common shares beneficially owned by such Reporting owner immediately prior to the effective time of the Merger multiplied by 0.472 (the exchange ratio). /s/ Morgan W. Davis 2015-08-04