PEMBROKE, Bermuda, Sept. 6, 2011 (GLOBE NEWSWIRE) -- Endurance Specialty Holdings Ltd. (NYSE:ENH), a Bermuda-based specialty provider of property and casualty insurance and reinsurance, today announced that Stephen Young has been appointed to lead Endurance's Global Catastrophe Reinsurance business reporting to William Jewett, President of Endurance Specialty Holdings Ltd. Christopher Schaper, the current leader of this business, will be leaving Endurance for a senior executive position elsewhere in the insurance and reinsurance industry.
Mr. Young joined Endurance's Bermuda based reinsurance team in 2002 as an underwriter. In 2005 he assumed responsibility for Endurance's U.S. catastrophe reinsurance business and in 2010 his role was further expanded to include all property catastrophe underwriting in the Americas. In 2011, Mr. Young took on additional operational responsibilities for the property catastrophe reinsurance business. Prior to joining Endurance, he was employed as an underwriter by Scandinavian Reinsurance in Bermuda. Mr. Young is a native Bermudian and attended schools in both Bermuda and the U.S. He graduated from Babson College with a Bachelor of Science degree in Finance.
David Cash, Chief Executive Officer of Endurance Specialty Holdings Ltd., commented, "We are very pleased to have Stephen take on this new role within our organization. Stephen has been with Endurance for nine years and during that time he has demonstrated the technical skills and leadership qualities which will serve him well as he takes on this additional responsibility. We are very fortunate to have an individual of Stephen's caliber on our team and I am confident that he will be successful in leading our global property catastrophe and specialty casualty reinsurance businesses."
Mr. Cash also commented, "As Stephen is taking on his new role, we would like to thank Christopher Schaper for his many years of service with Endurance. Christopher has been a significant part of Endurance's success over the years and we wish him well in his new endeavors."
About Endurance Specialty Holdings
Endurance Specialty Holdings Ltd. is a global specialty provider of property and casualty insurance and reinsurance. Through its operating subsidiaries, Endurance writes property, casualty, healthcare liability, agriculture and professional lines of insurance and property, catastrophe, casualty, aerospace and marine, and surety and other specialty lines of reinsurance. We maintain excellent financial strength as evidenced by the ratings of A (Excellent) from A.M. Best (XV size category) and A (Strong) from Standard & Poor's. Endurance's headquarters are located at Wellesley House, 90 Pitts Bay Road, Pembroke HM 08, Bermuda and its mailing address is Endurance Specialty Holdings Ltd., Suite No. 784, No. 48 Par-la-Ville Road, Hamilton HM 11, Bermuda. For more information about Endurance, please visit http://www.endurance.bm/">http://www.endurance.bm.