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NEW YORK (AP) -- Specialty insurer Endurance Specialty Holdings Ltd. said Tuesday it will receive about $150 million as part of a forward sale agreement with an affiliate of Deutsche Bank Securities Inc. Under the agreement, Endurance Specialty will sell between 3 million and 4.8 million shares to Deutsche Bank Securities. Deutsche Bank Securities plans to initially sell 2.2 million of the shares in a public offering at $39.50 per share to hedge its position under the sale agreement. The $39.50 price is 78 cents less than Endurance's Monday closing price of $40.28. Shares of Endurance fell 93 cents, or 2.3 percent, to $39.35. Shares have traded between $32.82 and $42.34 during the past year.
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