4,785,540 Shares MONTPELIER RE HOLDINGS LTD. Common Shares, Par Value 1/6 cent Per Share UNDERWRITING AGREEMENT March 12, 2004Underwriting Agreement • March 15th, 2004 • Montpelier Re Holdings LTD • Fire, marine & casualty insurance • New York
Certain shareholders of Montpelier Re Holdings Ltd., a Bermuda corporation (the “Company”), named in Schedule I hereto (each a “Selling Shareholder” and collectively, the “Selling Shareholders”), severally propose to sell to the several Underwriters named in Schedule II hereto (the “Underwriters”) an aggregate of 4,785,540 of the Company’s common shares, par value 1/6 cent per share (the “Shares”) each Selling Shareholder selling the amount set forth opposite such Selling Shareholder’s name in Schedule I hereto. The outstanding common shares, par value 1/6 cent per share, of the Company are hereinafter referred to as the “Common Shares.”
