S&P Says Endurance Ratings Unaffected By CEO Stepping Down

Standard & Poor’s Ratings Services said that its rating on Endurance Specialty Holdings Ltd., currently ‘BBB+’ with a stable outlook, is unaffected by the recent announcement that David Cash has stepped down as the company’s CEO and as a member of its Board of Directors.
John R. Charman has been elected as the company’s new Chairman and CEO and William H. Bolinder has taken the role of lead director of the Board.

S&P said: “We don’t expect any major changes in the company’s strategic direction as a global specialty writer of insurance and reinsurance products as a result of the recently announced management changes.

“We also continue to expect Endurance to focus on building its international reinsurance and its U.S. specialty retail and wholesale operations and enhancing its competitive position through further diversification of its underwriting operations.”

Source: Standard & Poor’s