Shareholders with both Endurance Specialty Holdings and Montpelier Re Holdings will likely vote on their planned $1.8 billion merger in early July, Endurance Chairman and CEO John Charman said during a May 5 investor call.

Endurance announced plans to buy Montelier at the end of March, a deal that Charman said during the call is “a significant step forward” for his company and a transaction that clients support.

“Our clients and distribution partners have already expressed strong support for us in this transaction,” Charman said.

John R. Charman, Endurance Chairman & CEO
John R. Charman, Endurance Chairman & CEO

He added that both companies “have made progress in planning for the integration of our businesses when the transaction closes,” and that they expect to file a joint proxy soon. That is a crucial step before July’s planned Endurance/Montpelier shareholder vote.

Endurance Specialty Holdings Ltd. held its own in the 2015 first quarter, boosting net income and gross premiums written in the continuation of a two-year growth spurt driven, in part, by added underwriting talent and specialty market expansion.

The Bermuda-based insurer and reinsurer said it produced $1.3 billion in gross premiums written during the quarter, versus $1.16 billion in the 2014 first quarter. Net income landed at $100.3 million, or $2.23 per diluted common share, an increase over $96.3 million or $2.17 per diluted common share produced during the same period last year.

Net premiums written surpassed $764.9 billion, but that is a decline compared to $798.7 million in the same year-ago period. The consolidated combined ratio is booked at 82.4, though that’s a slight uptick from 81.3 over the same period last year.

Net premiums earned, meanwhile nearly hit $389.86 million. The 2014 first quarter produced a higher number – close to $396.3 million.

Endurance’s net investment income is booked at almost $41.9 million, up from $40.99 million in the 2014 first quarter.

Endurance’s insurance segment produced $736.2 million in gross premiums written during Q1, $304 million in net premiums written and $135.86 million in net premiums earned. The division’s combined ratio came in at 90.6.

On the reinsurance side, gross premiums written for the quarter are at $565.2 million, net premiums written came in at $460.9 million, and net premiums earned are just under $254 million. The reinsurance combined ratio is at 78.

Endurance said there were particular gains in gross premiums written in reinsurance coming from professional lines and specialty lines. U.S. winter storms added new costs, however, to the accident year net loss ratio.