EX-99.1
2
exhibit1.htm
EX-99.1
EX-99.1
Exhibit 99.1
FOR FURTHER INFORMATION:
AT THE COMPANY: AT FINANCIAL RELATIONS BOARD:
Brian J. Roney
Chief Financial Officer
(248) 358-1171
invrelations@npte.com
Leslie Loyet
General Inquiries
(312) 640-6672
lloyet@frbir.com
FOR IMMEDIATE RELEASE
WEDNESDAY, APRIL 30, 2008
NORTH POINTE HOLDINGS CORPORATION
COMPLETES ACQUISITION BY QBE HOLDINGS, INC.
SOUTHFIELD, MI - April 30, 2008 - North Pointe Holdings Corporation (Nasdaq: NPTE)
announced today
the completion of its acquisition by QBE Holdings, Inc. ("QBE"), a subsidiary of QBE Insurance
Group Ltd. (QBE.AX on the ASX). North Pointe is now a wholly owned subsidiary of QBE.
North Pointe common stock (Nasdaq: NPTE) will be de-listed from the Nasdaq Exchange and will cease
trading after the close of trading at the Nasdaq Exchange today, April 30, 2008.
Under the terms of the merger agreement, which North Pointe shareholders approved on April 10,
2008, North Pointe shareholders of record will receive $16.00 in cash in exchange for each share of
common stock owned.
About North Pointe Holdings Corporation
North Pointe Holdings is a property and casualty insurer that markets both specialty commercial and
personal insurance products. With a focus on owner-operated businesses, the company is the
nation's largest insurer of independent bowling centers and the largest insurer of liquor liability
insurance in Michigan.
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About QBE the Americas
QBE the Americas is a division of Australia's QBE Insurance Group Ltd, one of the top 25 insurers
and reinsurers worldwide. The Americas division, headquartered in New York, is a leading North and
South American insurer and reinsurer. The division conducts business through various property and
casualty insurance subsidiaries in eight countries. QBE the Americas is one of the top 20 property
and casualty insurers in the United States, with an estimated US$4.2 billion in gross written
premium and a combined policyholders' surplus of more than US$2.0 billion in 2008.
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EX - 99 . 1 2 exhibit1 . htm EX - 99 . 1 EX - 99 . 1 Exhibit 99 . 1 FOR FURTHER INFORMATION : AT THE COMPANY : AT FINANCIAL RELATIONS BOARD : Brian J . Roney Chief Financial Officer ( 248 ) 358 - 1171 invrelations@npte.com Leslie Loyet General Inquiries ( 312 ) 640 - 6672 lloyet@frbir.com FOR IMMEDIATE RELEASE WEDNESDAY , APRIL 30 , 2008 NORTH POINTE HOLDINGS CORPORATION COMPLETES ACQUISITION BY QBE HOLDINGS , INC . SOUTHFIELD , MI - April 30 , 2008 - North Pointe Holdings Corporation ( Nasdaq : NPTE ) announced today the completion of its acquisition by QBE Holdings , Inc . ( " QBE " ) , a subsidiary of QBE Insurance Group Ltd . ( QBE . AX on the ASX ) . North Pointe is now a wholly owned subsidiary of QBE . North Pointe common stock ( Nasdaq : NPTE ) will be de - listed from the Nasdaq Exchange and will cease trading after the close of trading at the Nasdaq Exchange today , April 30 , 2008 . Under the terms of the merger agreement , which North Pointe shareholders approved on April 10 , 2008 , North Pointe shareholders of record will receive $ 16.00 in cash in exchange for each share of common stock owned . About North Pointe Holdings Corporation North Pointe Holdings is a property and casualty insurer that markets both specialty commercial and personal insurance products . With a focus on owner - operated businesses , the company is the nation 's largest insurer of independent bowling centers and the largest insurer of liquor liability insurance in Michigan . 1 About QBE the Americas QBE the Americas is a division of Australia 's QBE Insurance Group Ltd , one of the top 25 insurers and reinsurers worldwide . The Americas division , headquartered in New York , is a leading North and South American insurer and reinsurer . The division conducts business through various property and casualty insurance subsidiaries in eight countries . QBE the Americas is one of the top 20 property and casualty insurers in the United States , with an estimated US$ 4.2 billion in gross written premium and a combined policyholders ' surplus of more than US$ 2.0 billion in 2008 . 2