Profile: Endurance Specialty Holdings Ltd (ENH)
6 Mar 2014
Endurance Specialty Holdings Ltd. (Endurance Holdings), incorporated on June 27, 2002, is a holding company. Through the Company’s operating subsidiaries based in Bermuda, the United States and the United Kingdom, it focuses on underwriting specialty lines of personal and commercial property and casualty insurance and reinsurance on a global basis. The portfolio of specialty lines of business is organized into two business segments: Insurance and Reinsurance. As of December 31, 2012, Endurance Holdings’ seven wholly owned operating subsidiaries were Endurance Bermuda, Endurance Reinsurance Corporation of America (Endurance U.S. Reinsurance), Endurance Worldwide Insurance Limited (Endurance U.K.), Endurance American Insurance Company (Endurance American), Endurance American Specialty Insurance Company (Endurance American Specialty), Endurance Risk Solutions Assurance Co. (Endurance Risk Solutions) and American Agri-Business Insurance Company. The Company operates in two business segments: Insurance and Reinsurance.
The Company Insurance segment is comprised of four lines of business: Agriculture, Casualty and other specialty, Professional lines and Property. Its agriculture insurance business focuses on traditional multi-peril crop insurance, crop hail, livestock risk protection and other agriculture risk management products, all offered through independent agents in the United States. Its casualty and other specialty insurance line of business includes 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 excess hospital medical professional liability insurance. Its surety insurance business provides contract and commercial surety insurance in the United States. Its casualty and other specialty line of business also includes workers’ compensation insurance
The Company's professional lines insurance business includes directors’ and officers’ liability, errors and omissions, employment practices liability, environmental liability and pension trust liability insurance and includes both non-profit and for-profit entities representing a range of industry groups. Its property insurance line of business provides difference in conditions coverage which is primarily earthquake and flood coverage. The properties insured are generally of a commercial nature and are spread across industries, such as real estate, retail, manufacturing, chemicals, financial services, utilities, telecommunications, construction, civil engineering and municipalities/institutions.
The Company’s Reinsurance segment is consisted of four lines of business: catastrophe, property, casualty, and other specialty. Its catastrophe reinsurance line of business reinsures catastrophic perils for ceding companies on a treaty basis for property and workers’ compensation business. The perils reinsured in its catastrophe reinsurance business include natural perils, such as hurricanes, typhoons, earthquakes, floods, tornados, hail and fire and man-made perils, such as industrial events and terrorism. Property reinsurance reinsures individual property insurance policies issued by its ceding company clients, including both personal lines and commercial exposures (principally 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. Its casualty reinsurance line of business reinsures third party liability exposures from ceding companies on a treaty basis, such as automobile liability, professional liability, directors’ and officers’ liability, umbrella liability and workers’ compensation. The Company underwrites its property reinsurance line of business on both a proportional and excess of loss basis.
Its other specialty line of business includes aerospace, marine, trade credit and surety, agriculture reinsurance and weather risk management products. Its aerospace business is comprised primarily of the reinsurance of aviation and space risks. The aviation business includes hull, aircraft liability and aircraft products coverage’s and the space business includes satellite launch and in-orbit coverage. Its marine business consists of the reinsurance of bluewater hull, brownwater hull and cargo risks and is underwritten on a proportional and non-proportional basis. The Company provides surety reinsurance for contract and commercial surety insurers, as well as for fidelity insurers. Its agriculture reinsurance business is comprised of risks associated with the production of food and fiber on a global basis. Its remaining business in this line represents a variety of contracts, such as personal accident and terrorism.
Endurance Specialty Holdings Ltd
Wellesley House, 90 Pitts Bay Ro
PEMBROKE HM 08