Hashtag: #EnduranceLtd
A.M. Best Places Sompo Ratings Under Review
A.M. Best has placed under review with developing implications the Financial Strength Rating of A [Excellent] and the Long-Term Issuer Credit Rating of “a+” of Sompo Japan Canopius Reinsurance AG [Switzerland]. A statement from the ratings agency said, “The Credit Rating [rating] action follows the successful completion of SOMPO Holdings, Inc.... Read more of this article
Endurance Upgraded Following Acquisition
A.M. Best has removed from under review with positive implications and upgraded the Financial Strength Rating [FSR] to A+ from A, and the Long-Term Issuer Credit Ratings to “aa-” from “a” of Bermuda-based Endurance Specialty Insurance and its subsidiaries. A.M. Best also has upgraded the Long-Term ICR to “a-” from “bbb” and the Long-Term... Read more of this article
Sompo Completes Acquisition Of Endurance
Sompo Holdings has completed its acquisition of Endurance Specialty Holdings Ltd, with Endurance to be integrated into Sompo Holdings through the creation of Sompo International, which will be based in Bermuda. The total consideration for the acquisition is US$ 6.3 bn, and Endurance’s ordinary shares will cease trading following the market close on... Read more of this article
Endurance Declares Quarterly Dividends
Endurance Specialty Holdings Ltd., a Bermuda-based provider of property and casualty insurance and reinsurance, announced that its Board of Directors declared a quarterly dividend of $396.875 per share payable on its 6.35% Non-Cumulative Preferred Shares, Series C. The dividend on the Series C Preferred Shares equals $0.396875 per depositary share,... Read more of this article
Endurance Shareholders Vote For Merger
Bermuda-based Endurance Specialty Holdings Ltd. announced that Endurance common and preferred shareholders voted in favor of the proposed merger of Endurance with and into Volcano International Limited, an indirect, wholly owned subsidiary of SOMPO Holdings, Inc. [SOMPO], at a special general meeting of Endurance common and preferred shareholders... Read more of this article
Endurance’s Cyber Extortion Response Service
Bermuda-based Endurance Specialty Holdings has introduced a new service enabling its insureds to better respond to ransomware and similar extortion events. Endurance’s Breach Assist Counsel, Mullen Coughlin LLC coordinates with leading providers of forensic and response services to assist Endurance’s clients in the event of a data breach... Read more of this article
Endurance To Hold Meeting About Acquisition
Bermuda-based Endurance Specialty Holdings has scheduled a special general meeting of its shareholders to seek approval for the acquisition of 100% of the outstanding ordinary shares of Endurance by SOMPO Holdings, Inc. “The Endurance special general meeting will be held on Friday, January 27, 2017, at 9:00 a.m. [Atlantic Time] at Endurance’s... Read more of this article
Endurance E&S Excess Casualty Transportation
Bermuda-based Endurance Specialty Holdings Ltd. announced today that Endurance U.S. Insurance has introduced a new Excess Casualty product for commercial transportation clients, distributed through a limited network of wholesale brokers specializing in the transportation market. The new product targets U.S. based transportation companies including mid-size... Read more of this article
Endurance Declares Quarterly Dividends
Bermuda-based Endurance Specialty Holdings Ltd. declared a quarterly dividend of $0.38 per ordinary share and $396.875 per share payable on its 6.35% Non-Cumulative Preferred Shares, Series C. The dividend on the Series C Preferred Shares equals $0.396875 per depositary share, each of which represents a 1/1,000th interest in a share of the Series C... Read more of this article
Endurance Reports Q3 2016 Financial Results
Bermuda-based Endurance Specialty Holdings Ltd. reported net income available to common shareholders of $130.1 million and $1.92 per diluted common share for the third quarter of 2016 versus net income of $43.6 million and $0.73 per diluted common share for the third quarter of 2015. For the nine months ended September 30, 2016, Endurance reported net... Read more of this article
Endurance Launches Lead Umbrella Product
Endurance Specialty Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced that Endurance Global Risk Solutions has launched a new lead umbrella product. Endurance Global Risk Solutions, launched earlier this year within Endurance’s insurance business, targets U.S. based middle market and... Read more of this article
‘No Changes’ Anticipated At Blue Capital Global
In a filing with the Bermuda Stock Exchange, Blue Capital Global Reinsurance Fund Limited said they do “not anticipate any changes in the management of Blue Capital” following the announcement that Endurance will be acquired by Sompo Holdings. The filing stated, “The Company’s Board of Directors reports that Endurance Specialty... Read more of this article
Endurance Credit Ratings Placed Under Review
Following the confirmation that they will be acquired by Tokyo-based Sompo Holdings, A.M. Best has placed the Financial Strength Rating [FSR] of A [Excellent] and the Long-Term Issuer Credit Ratings [Long-Term ICR] of “a” of Endurance Specialty Insurance Ltd. and its rated affiliates under review with positive implications. Concurrently, A.M. Best... Read more of this article
Japan’s Sompo To Acquire Endurance Holdings
[Updated] Following a report that Sompo Japan ”firmed up plans” to acquire Endurance Specialty Holdings, the Bermuda-based company issued a statement confirming they are “in advanced discussions” with the Tokyo-based global insurance carrier “regarding a potential strategic transaction.” Nikkei Report Nikkei Asian... Read more of this article
Endurance Appoint Sparro CEO Of US Insurance
Endurance Specialty Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced that Christopher Sparro will join the company on September 12, 2016 as Executive Vice President and Chief Executive Officer of U.S. Insurance. With more than twenty-five years of experience, Mr. Sparro will be responsible... Read more of this article
Endurance Launch New Compensation Product
Endurance Specialty Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, has launched a new workers’ compensation insurance product for its Global Risk Solutions clients. Global Risk Solutions, a new business line launched earlier this year within Endurance Insurance, targets middle market and large... Read more of this article
