Montpelier to sell shares

WASHINGTON (Reuters) - Montpelier Re Holdings Ltd. filed with regulators on Monday to periodically sell up to $1 billion in common and preference shares, debt securities and other securities.

The Bermuda-based provider of property and casualty reinsurance and insurance products said in a registration statement with the US Securities and Exchange Commission that it will use the proceeds for working capital, capital expenditures, acquisitions and general corporate purposes.

Under a shelf registration, a company may sell securities in one or more separate offerings with the size, price and terms to be determined at the time of sale.