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EX-99.1 - EXHIBIT 99.1 - ENDURANCE SPECIALTY HOLDINGS LTD | c11921exv99w1.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 9, 2011
Endurance Specialty Holdings Ltd.
(Exact name of registrant as specified in its charter)
Bermuda | 1-31599 | 98-032908 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) | (IRS Employer Identification No.) |
Wellesley House, 90 Pitts Bay Road, Pembroke HM 08, Bermuda |
|
|
(Address of principal executive offices) | (Zip Code) |
Registrants telephone number, including area code: (441) 278-0440
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 7.01. Regulation FD Disclosure.
Attached hereto as Exhibit 99.1 are the 2010 Loss Development Triangles of Endurance Specialty
Holdings Ltd. (the Company), which provide greater detail on the Companys reserves for losses
and loss adjustment expenses. The 2010 Loss Development Triangles include loss development
triangles for gross paid and reported loss and loss adjustment expenses by accident year at annual
evaluation dates, with the most recent evaluation being as of December 31, 2010. In addition, the
2010 Loss Development Triangles include accident year summary exhibits containing gross, ceded and
net results by segment and triangle classes as of December 31, 2010. A copy of this document is
available in the Investor Relations section of the Companys website at www.endurance.bm.
The information in Item 7.01 of this report, including the Exhibit 99.1 furnished pursuant to
Item 7.01 of this report, is being furnished, not filed, pursuant to Regulation FD. Accordingly,
the information in Item 7.01 of this report will not be incorporated by reference into any
registration statement filed by the Company under the Securities Act of 1933, as amended, unless
specifically identified therein as being incorporated therein by reference. The furnishing of the
information in this report is not intended to, and does not, constitute a determination or
admission by the Company that the information in this report is material or complete, or that
investors should consider this information before making an investment decision with respect to any
security of the Company or any of its affiliates.
Safe Harbor for Forward-Looking Statements
Some of the statements in Exhibit 99.1 may include forward-looking statements which reflect
our current views with respect to future events and financial performance. Such statements may
include forward-looking statements both with respect to us in general and the insurance and
reinsurance sectors specifically, both as to underwriting and investment matters. Statements which
include the words expect, intend, plan, believe, project, anticipate, seek, will,
and similar statements of a future or forward looking nature identify forward-looking statements in
Exhibit 99.1 for purposes of the U.S. federal securities laws or otherwise. We intend these
forward-looking statements to be covered by the safe harbor provisions for forward-looking
statements in the Private Securities Litigation Reform Act of 1995.
All forward-looking statements address matters that involve risks and uncertainties.
Accordingly, there are or may be important factors that could cause actual results to differ from
those indicated in the forward-looking statements. These factors include, but are not limited to,
(i) changes in the size of the claims payable by the Company relating to natural catastrophes, (ii)
greater frequency or severity of claims and loss activity than the Companys underwriting,
reserving or investment practices anticipate based upon historical experience or industry data,
(iii) trends in rates for property and casualty insurance and reinsurance, (iv) changes in the
judicial, legislative or regulatory environments in which the Company operates, (v) changes in
general economic conditions, including foreign currency exchange rates, inflation and other factors
and (vi) the other factors described in our most recent Annual Report on Form 10-K and Quarterly
Reports on Form 10-Q filed with the U.S. Securities and Exchange Commission.
Forward-looking statements speak only as of the date on which they are made, and we undertake
no obligation publicly to update or revise any forward-looking statement, whether as a result of
new information, future developments or otherwise.
Item 9.01. Financial Statements and Exhibits
(c) Exhibits
The following exhibit is filed as part of this report:
Exhibit No. | Description | |||
99.1 | 2010 Loss Development Triangles |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Dated: February 9, 2011
By: | /s/ John V. Del Col | |||
Name: | John V. Del Col | |||
Title: | General Counsel & Secretary |
EXHIBIT INDEX
Exhibit No. | Description | |||
99.1 | 2010 Loss Development Triangles |