Shackleton Re Ltd.

This deal consists of three separate tranches of coverage; $125 million Class A notes of reinsurance for earthquake risk in California, $60 million Class B notes of protection for hurricanes in the U.S. Northeast, Gulf Coast and certain inland states and $50 million Class C notes of reinsurance for losses resulting from hurricanes or California earthquakes following occurrence of a major hurricane or California earthquake during the same year.

President, Chairman & CEO of Endurance Kenneth LeStrange said; “These transactions provide Endurance with significant catastrophe reinsurance protection while continuing to optimize the use of our capital. The $235 million of new protection provided by this multi-year collateralized reinsurance, when combined with our existing capital, reinsurance and retrocessional protection, provides us with significant capital strength to provide for our clients and to continue to build our business.”