Endurance Specialty Holdings Ltd. (ENH), a Bermuda-based provider of property and casualty insurance and reinsurance, yesterday announced that its US and UK subsidiaries have expanded into the marine and energy business.

Mr. Paul Upton will be joining Endurance Worldwide Insurance Limited (Endurance Worldwide), Endurance's London-based operation, to lead the company's Marine & Energy business, including the development of global strategies. Mr. Upton will be joining Endurance in February 2004 from Advent Underwriting Agency. Most recently serving as Advent's principal Marine & Energy underwriter, Mr. Upton holds a BA from the University of Sussex and is an associate of the Chartered Insurance Institute (ACII).

Mark Boucher, CEO of Endurance Worldwide commented, "As a leading marine and energy underwriter with over 20 years of experience, Paul brings a valuable blend of market insight and respected analysis to the company. We are delighted to have him join us in developing a quality book of reinsurance marine and energy programmes." Mr. Upton commented, "I look forward to working with the talented staff at Endurance and helping to build a marine and energy book based around the company's standards and guiding principles. This is an exciting opportunity, and I am pleased to continue applying my experience in this changing market."

Endurance also announced the addition of a new specialty line of business, accident reinsurance.

Endurance's CEO, Kenneth J. LeStrange, commented: "Endurance's strategy is to build a balanced underwriting portfolio, and approach each business as a specialist. I am pleased to have Endurance entering this line and happy to have attracted leaders whose experience, knowledge, and client relationships, combined with Endurance's strong balance sheet and technology platform, allow for positive growth."

Ms. Donna Peterson has joined Endurance Reinsurance Corporation of America, Endurance's US platform, as senior vice president and will lead the company's overall development of Accident business. Ms. Peterson brings over 20 years of underwriting and management experience to Endurance. She joins Endurance from PMA Re where she built and implemented the company's underwriting strategy for their Accident Reinsurance book. Art Bocek, Assistant Vice President, has also joined Endurance Re in leading the new Accident area.

"Building on the success of our existing specialty businesses, Endurance's decision to grow and strengthen our underwriting portfolio through diversification into Accident Reinsurance is a reflection of our flexibility and focus on specialization," concluded LeStrange.