Profile: Endurance Specialty Holdings Ltd (ENH)
25 Jul 2016
Endurance Specialty Holdings Ltd., incorporated on June 27, 2002, is a holding company. The Company, through its operating subsidiaries in Bermuda, the United States and the United Kingdom, focuses on underwriting specialty lines of personal and commercial property, and casualty insurance and reinsurance. The Company operates through two segments: Insurance and Reinsurance. In the Insurance segment, the Company writes agriculture, casualty and other specialty, professional lines and property, marine/energy and aviation insurance. In the Reinsurance segment, the Company writes catastrophe, property, casualty, professional lines, and specialty reinsurance. The Company's Insurance and Reinsurance segments both include property-related coverages, which provide insurance or reinsurance of an insurable interest in tangible property for property loss, damage or loss of use. In addition, the Company's Insurance and Reinsurance segments include various casualty insurance and reinsurance coverages, which are concerned with the losses caused by injuries to third parties.
The Company's Insurance segment consists of four lines of business: agriculture, casualty and other specialty, professional lines, and property, marine/energy and aviation. Its agriculture insurance line of business focuses on multi-peril crop insurance, crop hail, livestock risk protection and other agriculture risk management products, all offered through independent agents in the United States. The Company's casualty and other specialty insurance line of business include casualty insurance, healthcare liability insurance, and contract and commercial surety insurance. Its casualty insurance business provides third-party liability insurance for a range of industry groups. Its healthcare liability insurance business is focused on hospital medical professional liability insurance. Its surety insurance business provides contract and commercial surety insurance in the United States.
The Company's professional lines insurance business includes directors' and officers' liability, errors and omissions, employment practices liability, fiduciary, environmental liability and pension trust liability insurance, and includes both non-profit and for-profit entities. Its property, marine/energy and aviation line of business includes property insurance, inland marine, ocean marine, marine war, energy and aviation insurance. Its property insurance business provides coverage against all risks of physical loss or damage of commercial properties, engineering and construction of properties and resultant loss of business income. Its inland marine insurance business provides indemnification of loss related to property in transit, and movable or specialized types of property.
The Company's ocean marine insurance business covers the loss or damage of ships, cargo, terminals, piers, wharfs and any transport or cargo, as well as general liability coverage for marine risks. Its energy business provides upstream, midstream, downstream, power and renewable energy coverage covering property and liability risk, control of well, transportation and storage, business interruption, cargo and equipment risks. Its aviation business provides general liability and property coverages for a range of aviation risks, including hull and liability coverage, as well as general liability coverage for ground-based risks, such as fixed base operators, airport owners and aircraft manufacturers and distributors.
The Company's Reinsurance segment consists of five lines of business: catastrophe, property, casualty, professional lines and specialty. Its catastrophe reinsurance line of business reinsures catastrophic perils for ceding companies on a treaty basis for property and workers' compensation business. The principal perils reinsured include natural perils, such as hurricanes, typhoons, earthquakes, floods, tornados, hail and fire, and certain man-made perils, such as industrial events and terrorism. Its property reinsurance line of business reinsures property insurance policies issued by its ceding company clients, including personal lines, commercial exposures and engineering (covering buildings, structures, equipment, contents and time element coverages on a treaty basis). Loss exposures in this segment include the perils of fire, explosion, collapse, riot, vandalism, wind, tornado, flood and earthquake.
The Company's casualty reinsurance line of business reinsures third-party liability exposures from ceding companies, such as automobile liability, general liability, umbrella liability and workers' compensation. Its professional lines reinsurance line of business reinsures third-party professional liability policies issued by its ceding company clients for exposures, such as directors' and officers' liability, directors' and officers' and management liability, errors and omissions, employment practices liability, fiduciary and pension trust liability insurance, and includes both non-profit and for-profit entities.
The Company's specialty line of business includes aerospace, international agriculture, marine and energy, and trade credit and surety, all of which are underwritten on either a proportional or non-proportional basis. This business line also includes its weather risk management products. Its aerospace business consists of the reinsurance of aviation and space risks. Its agriculture business includes reinsurance of multi-peril crop insurance policies, crop hail policies and other types of crop insurance. Its marine business consists of the reinsurance of river and ocean vessels, and cargo risks. Its trade credit and surety business includes the reinsurance of trade credit and political risk, contract surety and commercial surety on around the world basis. It also provides surety reinsurance for contract and commercial surety insurers, as well as for fidelity insurers. Its remaining business in this line represents a range of contracts.
Endurance Specialty Holdings Ltd
Wellesley House, 90 Pitts Bay Ro
PEMBROKE HM 08