Endurance Announces Ratings Upgrade of American Agri-Business Insurance Company

PEMBROKE, Bermuda--(BUSINESS WIRE)--Endurance Specialty Holdings Ltd. (NYSE:ENH), a Bermuda-based specialty provider of property and casualty insurance and reinsurance, today announced that A.M. Best has upgraded the financial strength rating of its operating subsidiary, American Agri-Business Insurance Company, to A- (Excellent) with a stable outlook.

American Agri-Business Insurance Company (AA-BIC) and its affiliated company, ARMtech, are the 5th largest underwriter of U.S. federally sponsored crop insurance, and are headquartered in Lubbock, Texas. With extensive agribusiness experience, coupled with insurance expertise and high-tech software development, they offer traditional Multi Peril Crop Insurance (MPCI), Crop Hail, Livestock Risk Protection and other agribusiness risk management products through an independent agency network.

The ratings upgrade recognizes the depth of experience of AA-BIC’s management team with the federally subsidized MPCI program as well as the increased capitalization offered by the company’s recent affiliation with Endurance.

Kenneth J. LeStrange, Chairman, President and Chief Executive Officer of Endurance, commented “Under the direction of Sam and his management team, ARMtech has exceeded our performance expectations, complementing our portfolio of specialty insurance products.”

Samuel R. Scheef, President of ARMtech, indicated, “We are pleased that the increased financial strength that we enjoy from our affiliation with Endurance has been reflected in our new rating. Together with our leading technology and personalized service, we are better positioned to service our customers and agents.”

About Endurance Specialty Holdings

Endurance Specialty Holdings Ltd. is a global specialty provider of property and casualty insurance and reinsurance. Through its operating subsidiaries, Endurance writes property, casualty, healthcare liability, agriculture, workers' compensation, professional lines of insurance and property, catastrophe, casualty, agriculture, marine, aerospace, and surety and other specialty lines of reinsurance. We maintain excellent financial strength as evidenced by the ratings of A (Excellent) from A.M. Best (XV size category) and A (Strong) from Standard and Poor’s on our operating subsidiaries (other than American Agri-Business Insurance Company) and A- (Excellent) from A.M. Best for American Agri-Business Insurance Company. Endurance’s headquarters are located at Wellesley House, 90 Pitts Bay Road, Pembroke HM 08, Bermuda and its mailing address is Endurance Specialty Holdings Ltd., Suite No. 784, No. 48 Par-la-Ville Road, Hamilton HM 11, Bermuda. For more information about Endurance, please visit http://www.endurance.bm.