Pembroke, Bermuda - May 29, 2013, Pembroke, Bermuda - Endurance Specialty Holdings Ltd., a specialty provider of property and casualty insurance and reinsurance, announced that it has elected John R. Charman as chairman and chief executive officer.
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Mr. Charman has four decades of global experience in the insurance industry, has been in a senior underwriting position since 1975 and has been in a CEO role since 1981. Most recently, he founded and served for 11 years as the Chief Executive Officer and President of Axis Capital Holdings Limited.
Prior to that, Mr. Charman was the Chief Executive Officer of Tarquin plc, the parent company of the Charman Underwriting Agencies at Lloyd's, which was sold to Ace Limited in 1998. Mr. Charman was a Deputy Chairman of the Council of Lloyd's and a member of the Lloyd's Core Management Group and Lloyd's Market Board between 1995 and 1997 during the financial crisis at Lloyds.
David Cash has stepped down as the Company's Chief Executive Officer and as a member of the Board.
Mr. Cash has been a director of the Company since May 2010, has been Chief Executive Officer of the Company since March 2010 and served as Chief Underwriting Officer of the Company from December 2005 until his appointment as Chief Executive Officer. Previously, Mr. Cash was President of Endurance Bermuda from December 2004 to December 2005 and the Company's Chief Actuary/Chief Risk Officer from December 2001 to June 2005.
Mr. Cash joined the Company from Centre Solutions Ltd. in Bermuda where he was a Vice President focused on structured finance and insurance programs since 1996. Mr. Cash was a member of the board of directors of Centre Life Finance, Centre Solutions' senior settlement financing company. From 1993 to 1996, Mr. Cash was Vice President and Underwriter at Zurich Re Centre. Prior to Zurich Re, Mr. Cash served as a consulting actuary at Tillinghast-Towers Perrin in New York.
Mr. Cash received an Msc. in mathematics from Oxford University, which he attended as a Rhodes Scholar. Mr. Cash is a Fellow of the Casualty Actuarial Society and a Member of the American Academy of Actuaries.
William H. Bolinder, the current Chairman of the Board, has become the Company's Lead Director.
Mr. Bolinder has been a director since December 2001. He held a role of Lead Director between November 2006 and March 2011. Mr. Bolinder served as Chairman of the Board from March 2011 to May 2013. In June 2006, Mr. Bolinder retired as President, Chief Executive Officer and a director of Acadia Trust N.A., positions he had held since 2003. He had previously been a member of the Group Management Board for Zurich Financial Services Group.
He was the head of the North America business division (excluding U.S. - Personal Lines) from 1994 to 2002, and the Latin America business division from 1996 to 2002, as well as the Corporate and Commercial Customer Division of Zurich Financial Services Group since 1998. In 1994, he was elected to the Group Executive Board at Zurich Financial Services Group's home office and became responsible for managing the Zurich Financial Services Group companies in the United States and Canada as well as Corporate/Industrial Insurance, Zurich International (Group) and Risk Engineering. ■