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.
Topics Excess Surplus
Was this article valuable?
Here are more articles you may enjoy.
Bumble, Panera Bread, CrunchBase, Match Hit by Cyberattacks 
Hot Sauce Company Sues Manufacturer Over Exploding Bottles 
Kin Moves Into Florida and Texas With Home-Auto Bundle Products 
GEICO Settles Call-Center Worker Suits for $940,000; Attorneys Get Half 
