Golden Gate Capital Invests in Bermuda-Based Endurance Specialty Insurance

January 4, 2002

Golden Gate Capital, a private equity investment firm based in San Francisco, Calif., has invested in Endurance Specialty Insurance, a Bermuda-based start-up focusing on the commercial property and liability insurance and reinsurance markets.

The company is led by a management team including CEO Kenneth LeStrange, former Chairman and CEO of Aon Corporation’s retail brokerage operations for the Americas. Strategic investors include Aon, Zurich, and Capital Z Financial Services Fund II. The Company has approximately $1.2 billion in capital under management.

According to Jesse Rogers, a managing director of Golden Gate Capital, the opportunity in this market is very attractive. Rogers said with the significant capital drain on the system, Endurance is well-positioned to offer new business in a more attractive pricing environment, without the reserve liabilities associated with existing reinsurers.

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