Endurance Launches U.S. Contract Binding Authority Unit
PEMBROKE, Bermuda, Nov. 30, 2010 (GLOBE NEWSWIRE) -- Endurance Specialty Holdings Ltd. (NYSE:ENH), a Bermuda-
based specialty provider of property and casualty insurance and reinsurance, today announced that it has launched a new
U.S. Contract Binding Authority Unit to operate within Endurance American Specialty Insurance Company, Endurance's U. S.
surplus lines insurer. This launch marks Endurance's entry into a significant distribution channel with initial access to nearly
one hundred fifty surplus line agent offices.
Endurance's new Contract Binding Authority Unit will be led by Glenn R. Yanoff, Senior Vice President, who has 30 years of
experience in the insurance industry, most recently managing a portfolio of general liability and property insurance written
through a nationwide network of surplus line agents. Mr. Yanoff will report to William M. Jewett, President of Endurance
Specialty Holdings Ltd., and will be responsible for underwriting, marketing and compliance, supported by Ronald Yanoff and
Thomas Mannion, both Vice Presidents, and additional underwriting and operations staff.
Mr. Jewett commented, "This initiative marks another significant step forward in realizing Endurance's strategy of further
diversifying our portfolio of products and the distribution channels through which we access our clients. We are confident that
with the commitment and expertise of Glenn and his team, Endurance will deliver increased and more efficient capabilities that
will benefit both the widespread wholesale broker network and clients that they
Mr. Yanoff added, "The team and I are excited to be backed by the financial strength, excellent reputation and management
capabilities that have become hallmarks of Endurance. We believe that our new relationship with Endurance will be beneficial to
our clients as we expand our offerings, extend our strong relationships with our producers and build new distribution networks."
John Zachry, President and Head of U.S. Insurance Wholesale Operations, remarked, "We welcome Glenn and his team to
Endurance as their product offerings and producer network complement the business that we currently write with wholesale
brokers in the U.S. The addition of this new unit will strengthen our insurance operations and enable us to offer a more
comprehensive range of coverages to the market."
In 2008, Mr. Yanoff established a contract binding authority unit, MMO Agencies, an operating subsidiary of NYMAGIC, INC.,
and served as both President of the subsidiary and Executive Vice President of NYMAGIC, INC. since May 2008. Prior to that,
he was a Director of NYMAGIC, INC. from 2005 to March 2008. From 2004 to 2008, he was Area President of Risk Placement
Services, Inc., a subsidiary of the Arthur J. Gallagher & Co. insurance brokerage. Mr. Yanoff started his career in 1980 as an
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.
CONTACT: Endurance Specialty Holdings Ltd.