Endurance Specialty, a Bermuda-based provider of property and casualty insurance and reinsurance, has named David Cash as the new chief executive officer and William Jewett as the President the company.
Kenneth LeStrange, the Company’s chairman, president and chief executive officer since its formation in 2001, will continue as chairman until March 2, 2011.
Most recently, Mr Cash served as chief underwriting officer of Endurance. He previously worked for various Zurich Financial Services subsidiaries and prior to that he served as a consulting actuary at Tillinghast-Towers Perrin.
Mr Jewett has joined Endurance in December 2002. He served as president and CEO of worldwide reinsurance and president of the company’s US reinsurance subsidiary, Endurance Reinsurance Corporation of America. He previously served Converium Reinsurance, Centre Reinsurance Company of New York, NAC Re and Prudential Re.
William Bolinder, lead director and chairman of nominating and corporate governance committee of the board of directors at Endurance, said: “Ken LeStrange has done an outstanding job during his tenure, as evidenced by the company’s 2009 results announced just yesterday. David Cash and Bill Jewett are the ideal individuals for their new roles, having proven themselves with consistent performance over the past several years.
“Ken decided that with Endurance in great shape and with a solid foundation, this was the right time for him to begin to evolve his role and the Board determined to implement the company’s existing succession plan. As part of the transition, the board also determined to separate the roles of CEO and chairman. We are very pleased to have such strong executives within our ranks and look forward to the company’s continued success under their leadership.”