Endurance Tabs Kalaydijan as EVP; Pair of Promotions Made to U.S. Sub

June 30, 2005

Endurance Specialty Holdings Ltd., a global provider of property and casualty insurance and reinsurance, announced that Catherine Kalaydjian has been named executive vice president and Head of Claims for Endurance’s Bermuda subsidiary, Endurance Specialty Insurance Ltd., subject to Bermuda Department of Immigration approval. In addition, Kalaydjian will also serve as Chair of Endurance Specialty Holdings Ltd.’s Global Claims Committee.

Kalaydjian joined Endurance’s U.S. subsidiary, Endurance Reinsurance Corporation of America (Endurance Re) in September 2003 as the senior vice president of Claims. With nearly 25 years’ experience in handling and managing both reinsurance and insurance claims, Kalaydjian came to Endurance from QBE Reinsurance Corp., where she was a senior vice president and Head of Claims for both the U.S. reinsurance and insurance operations.

She has been active in a variety of industry organizations and currently serves on the Board of The Excess and Surplus Lines Claims Association, and is advisor emeritus and a past president of the Association of Professional Insurance Women (APIW).

In addition to Ms. Kalaydjian’s appointment, Endurance has also announced related promotions to its U.S. subsidiary, Endurance Re. Marc Karnell has been named senior vice president and Head of Claims and John O’Connor has been named senior claims counsel.

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