(Bloomberg) ? Buyout firm Thomas H. Lee Partners LP said it plans to sell its stake in insurer Axis Capital Holdings Ltd. for about $301.7 million a day after it sold some of its holdings in another insurer, Endurance Specialty Holdings Ltd.

Morgan Stanley will buy about 11.6 million Axis shares from Thomas H. Lee for $26.05 a share, Bermuda-based Axis said in filing with the Securities and Exchange Commission today. Morgan Stanley will resell the shares to public investors, Axis said.

Axis traded at $26.05, up 30 cents, in New York Stock Exchange composite trading. Morgan Stanley expects to deliver Axis shares to purchasers on friday, Axis said.

Thomas H. Lee, which became an investor in Axis when the insurer was founded in 2001, is selling its entire stake, Axis said. Jenna Focarino, an outside spokeswoman for Boston-based Thomas H. Lee, had no immediate comment.

Yesterday, Goldman Sachs Group Inc. bought about $290 million of shares in Endurance from Texas Pacific Group and Thomas H. Lee and sold the stake to investors. Endurance is also a Bermuda-based insurer. Texas Pacific and Lee each retained about 3.9 million Endurance shares, Endurance said.