A.M. Best Co. has commented that the financial strength ratings, issuer credit ratings and debt ratings of Bermuda-based Endurance Specialty Insurance Ltd. and its affiliates are “unaffected by the recent announcement that Endurance’s chief executive officer (CEO), David Cash, has stepped down from his position effective May 28, 2013.”
Endurance’s board has announced the election of John Charman, as its new Chairman and CEO. He is well known and highly regarded as a successful leader in the insurance industry, most recently holding the positions of CEO and President of AXIS Capital Holdings Limited.
Best said it “expects that Mr. Charman will be an agent of change at Endurance.” Best also indicated it would continue to “monitor future developments and assess any rating implications as they are implemented.”
Source: A.M. Best
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