Endurance Specialty Holdings, a Bermuda-based specialty provider of property and casualty insurance and reinsurance, has intoduced a new US bond operation, initially offering primary surety contract bond obligations to small construction contractors as well as court, license and permit bonds.
Insurer said, this new business unit enhances Endurance’s specialty insurance retail underwriting capabilities and access to its network of dedicated independent agents.
The new business will be lead by Alfred Wright, who has joined Endurance in New York City as a vice president and Ronald Diggs, who recently joined the company as vice resident of Surety.
Wright and Diggs will report to Joseph O’Donnell, who assumes an expanded role as executive vice president and head of Financial and Professional Lines.
Before joining Endurance, Wright managed several regional offices for International Fidelity Insurance Company as a vice president for underwriting and assistant vice president of underwriting for ACE USA.
Diggs’ previous experience includes senior underwriting roles at HCC Surety Group and ACE USA. He was also vice president of Willis North America.
Endurance US Retail Insurance Operations president and head Sean Fitzpatrick said the team brings the advanced transactional tools, strong underwriting skills and extensive market relationships necessary to launch a successful surety bond operation for Endurance, further expanding the presence in the US specialty retail market.