Exhibit 4.1




	
  

  	
  THIS CERTIFIES
  THAT is the owner of CUSIP DATED COUNTERSIGNED AND REGISTERED: COMPUTERSHARE
  TRUST COMPANY, N.A. TRANSFER AGENT AND REGISTRAR, FULLY PAID AND NON- ASSESSABLE
  COMMON SHARES, PAR VALUE US 1/6 CENT PER SHARE, OF Montpelier Re Holdings
  Ltd. transferable on the books of the Company by the holder hereof in person
  or by duly authorized attorney upon surrender of this certificate properly
  endorsed. This certificate and the shares represented hereby are issued and
  shall be held subject to all the provisions of the Memorandum of Association
  and Bye-Laws of the Company, copies of which are on file with the Transfer
  Agent, to all of which the holder by acceptance hereof assents. This
  certificate is not valid unless countersigned and registered by the Transfer
  Agent and Registrar. Witness the seal of the Company and the signatures of
  its duly authorized officers. COMMON STOCK PAR VALUE US 1/6 CENT COMMON STOCK
  THIS CERTIFICATE IS TRANSFERABLE IN CANTON, MA AND JERSEY CITY, NJ SEE
  REVERSE FOR CERTAIN DEFINITIONS Certificate Number Shares MONTPELIER RE
  HOLDINGS LTD. INCORPORATED UNDER THE LAWS OF BERMUDA President and Chief
  Executive Officer General Counsel and Secretary By AUTHORIZED SIGNATURE
  016570 003590 127C RESTRICTED 4 057-423 G62185 10 6 <<Month Day,
  Year>> * * 600620 * * * * * * * * * 600620 * * * * * * * * * 600620 * *
  * * * * * * * 600620 * * * * * * * * * 600620 * * * * Mr. Alexander David
  Sample * * * * Mr. Alexander David Sample * * * * Mr. Alexander David Sample *
  * * * Mr. Alexander David Sample * * * * Mr. Alexander David Sample * * * * Mr.
  Alexander David Sample * * * * Mr. Alexander David Sample * * * * Mr.
  Alexander David Sample * * * * Mr. Alexander David Sample * * * * Mr.
  Alexander David Sample * * * * Mr. Alexander David Sample * * * * Mr.
  Alexander David Sample * * * * Mr. Alexander David Sample * * * * Mr.
  Alexander David Sample * * * * Mr. Alexander David Sample * * * * Mr.
  Alexander David Sample * * * * Mr. Alexander David Sample * * * * Mr.
  Alexander David Sample * * * * Mr. Alexander David Sample * * * * Mr.
  Alexander David Sample * * * * Mr. Alexander David Sample * * * * Mr.
  Alexander David Sample * * * * Mr. Alexander David Sample * * * * Mr.
  Alexander David Sample * * * * Mr. Alexander David Sample * * * * Mr. Alexander
  David Sample * * * * Mr. Alexander David Sample * * * * Mr. Alexander David
  Sample * * * * Mr. Alexander David Sample * * * * Mr. Alexander David Sample *
  * * * Mr. Alexander David Sample * * * * Mr. Alexander David Sample * * * * Mr.
  Alexander David Sample * * * * Mr. Alexander David Sample * * * * Mr.
  Alexander David Sample * * * * Mr. Alexander David Sample * * * * Mr.
  Alexander David Sample * * * * Mr. Alexander David Sample * * * * Mr.
  Alexander David Sample * * * * Mr. Alexander David Sample * * * * Mr.
  Alexander David Sample * * * * Mr. Alexander David Sample * * * * Mr.
  Alexander David Sample * * * * Mr. Alexander David Sample * * * * Mr.
  Alexander David Sample * * * * Mr. Alexander David Sample * * * * Mr.
  Alexander David Sample * * * * Mr. Alexander David Sample * * * * Mr.
  Alexander David Sample * * * * Mr. Alexander David Sample * * * * Mr.
  Alexander David Sample * * * * Mr. Alexander David Sample * * * * Mr. Sample *
  * * * Mr. Sample * * 600620 * * Shares * * * * 600620 * * Shares * * * * 600620
  * * Shares * * * * 600620 * * Shares * * * * 600620 * * Shares * * * * 600620
  * * Shares * * * * 600620 * * Shares * * * * 600620 * * Shares * * * * 600620
  * * Shares * * * * 600620 * * Shares * * * * 600620 * * Shares * * * * 600620
  * * Shares * * * * 600620 * * Shares * * * * 600620 * * Shares * * * * 600620
  * * Shares * * * * 600620 * * Shares * * * * 600620 * * Shares * * * * 600620
  * * Shares * * * * 600620 * * Shares * * * * 600620 * * Shares * * * * 600620
  * * Shares * * * * 600620 * * Shares * * * * 600620 * * Shares * * * * 600620
  * * Shares * * * * 6 00620 * * Shares * * * * 600620 * * Shares * * * * 600620
  * * Shares * * * * 600620 * * Shares * * * * 600620 * * Shares * * * * 600620
  * * Shares * * * * 600620 * * Shares * * * * 600620 * * Shares * * * * 60 0620
  * * Shares * * * * 600620 * * Shares * * * * 600620 * * Shares * * * * 600620
  * * Shares * * * * 600620 * * Shares * * * * 600620 * * Shares * * * * 600620
  * * Shares * * * * 600620 * * Shares * * * * 600 620 * * Shares * * * * 600620
  * * Shares * * * * 600620 * * Shares * * * * 600620 * * Shares * * * * 600620
  * * Shares * * * * 600620 * * Shares * * * 600620 * * Shares * * * * 600620 *
  * Shares * * * * 60062 0 * * Shares * * * * 600620 * * Shares * * * * 600620
  * * Shares * * * * 600620 * * Shares * * * * 600620 * * Shares * * * * 600620
  * * Shares * * * * 600620 * * Shares * * * * 600620 * * Shares * * * * 600620
  * * Shares * * * * 600620 * * Shares * * * * 600620 * * Shares * * * * 600620
  * * Shares * * * * 600620 * * Shares * * * * 600620 * * Shares * * * * 600620
  * * Shares * * * * 600620 * * Shares * * * * 600620 * * Shares * * * * 600620
  * * Shares * * * * 600620 * * Shares * * * * 600620 * * Shares * * * * 600620
  * * Shares * * * * 600620 * * Shares * * * * 600620 * * Shares * * * * 600620
  * * Shares * * * * 600620 * * Shares * * * * 600620 * * Shares * * * * 600620
  * * Shares * * * * 600620 * * Shares * * * * 600620 * * Shares * * * * 600620
  * * Shares * * * * 600620 * * Shares * * * * 600620 * * Shares * * * * 600620
  * * Shares * * * * 600620 * * Shares * * * * 600620 * * Shares * * * * 600620
  * * Shares * * * * 600620 * * Shares * * * * 600620 * * Shares * * * * 600620
  * * Shares * * * * 600620 * * Shares * * * * 600620 * * Sh * * * SIX HUNDRED
  THOUSAND SIX HUNDRED AND TWENTY * * * MR. SAMPLE & MRS. SAMPLE & MR.
  SAMPLE & MRS. SAMPLE NNNNN ZQ 000000 Certificate Numbers
  1234567890/1234567890 1234567890/1234567890 1234567890/1234567890
  1234567890/1234567890 1234567890/1234567890 1234567890/1234567890 Total
  Transaction Num /No. 123456 Denom. 123456 Total 1234567 MR A SAMPLE
  DESIGNATION (IF ANY) ADD 1 ADD 2 ADD 3 ADD 4 PO BOX 43004, Providence, RI
  02940-3004 CUSIP XXXXXX XX X Holder ID XXXXXXXXXX Insurance Value
  1,000,000.00 Number of Shares 123456 DTC 12345678 12 3456789012345 

  






 















	
  

  	
  The following
  abbreviations, when used in the inscription on the face of this certificate,
  shall be construed as though they were written out in full according to
  applicable laws or regulations: TEN COM - as tenants in common UNIF GIFT MIN
  ACT-Custodian TEN ENT - as tenants by the entireties under Uniform Gifts to
  Minors Act JT TEN - as joint tenants with right of survivorship UNIF TRF MIN
  ACT Custodian (until age) and not as tenants in common (Cust) (Minor) under
  Uniform Transfers to Minors Act (State) Additional abbreviations may also be
  used though not in the above list. For value received, hereby sell, assign
  and transfer unto shares Attorney Dated: 20 Signature: Signature: Notice: The
  signature to this assignment must correspond with the name as written upon
  the face of the certificate, in every particular, without alteration or
  enlargement, or any change whatever. (Cust) (Minor) (State) PLEASE INSERT
  SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE (PLEASE PRINT OR
  TYPEWRITE NAME AND ADDRESS, INCLUDING POSTAL ZIP CODE, OF ASSIGNEE)
  represented by the within Certificate, and do hereby irrevocably constitute
  and appoint to transfer the said shares on the books of the within named
  Company with full power of substitution in the premises. MONTPELIER RE HOLDINGS
  LTD. Signature(s) Guaranteed: Medallion Guarantee Stamp THE SIGNATURE(S)
  SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (Banks,
  Stockbrokers, Savings and Loan Associations and Credit Unions) WITH
  MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO
  S.E.C. RULE 17Ad-15.