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Endurance buys Galileo Weather Risk Management

Bermuda-based property and casualty insurance and reinsurance specialty provider Endurance Specialty Holdings has acquired Galileo Weather Risk Management (Galileo) assets.

Weather risk management products and services provider, Galileo will now be the foundation of Endurance’s launch of a newly formed Endurance Global Weather unit.

Martin Malinow and Scott Edwards have been appointed as Endurance Global Weather’s president as well as managing director and chief operating officer respectively.

Endurance Global Weather will provide a suite of customized weather risk management products aimed to assist clients manage the weather variability impact on their businesses.

Malinow has 15 years of experience in weather risk management industry and more than 20 years of capital markets experience.

Prior to co-founding Galileo, Malinow co-founded XL Weather & Energy and headed their global weather business.

Currently serving as Board of Directors, Malinow held service with Weather Risk Management Association from 2008 to 2010 as president.

In addition to serving as COO of XL Life & Annuity, Edwards had co-founded and served as CFO of XL Weather & Energy as well as Galileo.