HDU Hardy Under. Bm

TIDMHDU

RNS Number : 4279G

Hardy Underwriting Bermuda Ld

29 June 2012

Not for release, publication or distribution, in whole or in part, directly or indirectly, in, into or from any jurisdiction where to do so would constitute a violation of the relevant laws or regulations of such jurisdiction

29 June 2012

HARDY UNDERWRITING BERMUDA LIMITED

(the "Company" or "Hardy")

SATISFACTION OF REGULATORY CONDITIONS,

EXPECTED ACQUISITION EFFECTIVE DATE AND CANCELLATION OF THE LISTING

Hardy is pleased to announce that all regulatory approvals required by the conditions to the acquisition of the entire issued and to be issued share capital of Hardy by CNA have been received.

The Acquisition remains subject to the issue, by the Registrar of Companies in Bermuda, of a certificate of merger pursuant to the Bermuda Companies Act. It is anticipated that, in the absence of unforeseen circumstances, the certificate of merger will be issued at or around 6pm (London time), on Monday 2 July 2012 and that the Acquisition will be declared effective at that time.

An application has been made for Hardy's Shares to be cancelled from the Official List of the UK Listing Authority and for those Shares to cease to be admitted to trading on the London Stock Exchange; both are expected to take effect from 8am (London time), Tuesday 3 July 2012. Consequently, the last day of trading in Hardy Shares is expected to be Monday 2 July 2012.

On this basis, settlement of the consideration due to Hardy Shareholders is expected to be sent on or before Monday 16 July 2012.

Terms used in this announcement shall have the same meaning as in the Circular unless stated otherwise.

The Circular is available for viewing on the investor relations section of Hardy's website http://www.hardygroup.bm.

- ENDS -

Enquiries

Hardy Tel: +44 (0) 20 7626 0382

David Mann, Chairman

Barbara Merry Chief Executive

Rothschild Tel: +44 (0) 20 7280 5000

(Joint financial adviser to Hardy)

Crispin Wright

Peel Hunt Tel: +44 (0) 20 7418 8900

(Joint financial adviser to Hardy)

James Britton

Redleaf Polhill Tel: +44 (0) 20 7566 6700

(PR adviser to Hardy) hardy@redleafpolhill.com

Emma Kane / Samantha Robbins

CNA Tel: +1 312 822 5000

Thomas F. Motamed, Chairman and Chief Executive

Aon Benfield Securities Tel: +44 (0) 20 7578 7000

(Financial adviser to CNA)

Paul Rayner / Ross Milburn

Fleishman-Hillard Tel: +44 (0)20 7395 7017

(PR adviser to CNA)

Alan O'Sullivan

This information is provided by RNS

The company news service from the London Stock Exchange

END

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