Zacks Upgrades Endurance Speciality
Bermuda’s Endurance Specialty Holdings was upgraded by equities research analysts at Zacks Investment Research from an “underperform” rating to a “neutral” rating in a research note issued to investors today [Nov. 23].
Endurance Specialty Holdings Ltd. is a holding company. Through its operating subsidiaries based in Bermuda, the United States and the United Kingdom, the company underwrites specialty lines of personal and commercial property and casualty insurance and reinsurance on a global basis.
The company’s portfolio of specialty lines of business is organised into two business segments: Insurance and Reinsurance.
As of December 31, 2009, Endurance Holdings’ seven wholly owned operating subsidiaries are Endurance Bermuda, Endurance Reinsurance Corporation of America, Endurance Worldwide Insurance Limited, Endurance American Insurance Company, Endurance American Specialty Insurance Company, Endurance Risk Solutions Assurance Co., and American Agri-Business Insurance Company.
Headquartered in Wellesley House on Pitts Bay Road, Endurance was founded at the end of 2001 with approximately $1.2 billion in capital.
Based in Bermuda, the initial operation focused on property catastrophe reinsurance and excess coverage for large commercial insurance accounts.
Under the leadership of founding CEO, President and Chairman of the Board, Kenneth J. LeStrange, Endurance attracted and retained an exceptional management team, expanded its geographic reach and added new product lines and distribution channels to emerge as a leading global provider of insurance and reinsurance products and services.
Now poised to enter its second decade of operations, Endurance has a solid balance sheet, diverse specialty capabilities, a worldwide client portfolio and a strong brand reputation.
Bermudian David Cash has been Endurance’s CEO since 2010. Having served as Endurance’s Chief Underwriting Officer from December 2005 to February 2010, he was named president of Endurance’s Bermuda operations in May 2008, a role he previously served in from December 2004 to December 2005.
Mr. Cash joined the company at its inception in December 2001 as Endurance’s Chief Actuary and Chief Risk Officer, a role he held through June 2005.
