NEW YORK ? Bermuda-based Insurance provider Endurance Specialty Holdings Ltd. said a subsidiary has acquired $235 million in collateralised catastrophic reinsurance.

Endurance Specialty Insurance Ltd. bought the reinsurance from Cayman Islands-based Shackleton Re Ltd. to grow its ability to manage risk related to large natural catastrophes in the United States. The reinsurance consists of $125 million in coverage for California earthquake risk over the next 18 months, $60 million in hurricane coverage for the US Northeast, Gulf Coast and certain inland states over the next two years and $50 million in coverage if more than one hurricane or earthquake hits California in the same year.