LeStrange quits as Endurance chief exec

KEN LeStrange is to step down as chief executive of Endurance Specialty Holdings at the beginning of next month, a move that will see the Bermudian firm split its three top roles.

LeStrange, the company’s chairman, president and chief executive since its formation in 2001, will continue as chairman of the board until March 2, 2011.

LeStrange said it had been “a privilege” to build Endurance from scratch into one of the premier insurers and reinsurers in the industry, but added he was “at a point in my own career when, if I want to do something outside the industry, this is the time”.

Endurance has named David Cash as its new chief executive, with William Jewett assuming the presidency. Jewett will report to Cash, and both men will be nominated for election to Endurance’s board of directors in May.

”LeStrange has done an outstanding job during his tenure,” said William Bolinder, Endurance’s lead director and chairman of the nominating and corporate governance committee of the board.

“Cash and Jewett are the ideal individuals for their new roles, having proven themselves with consistent performance over the past several years. We are very pleased to have such strong executives within our ranks and look forward to the company’s continued success under their leadership.”

Cash has been with Endurance since its inception, serving as chief actuary/chief risk officer, president of the Bermuda operating company and, most recently, as chief underwriting officer.

He counts Zurich Financial Services and Tillinghast-Towers Perrin as former employers.

Jewett has been at Endurance since December 2002, in which time he has served as president and chief executive of worldwide reinsurance and president of US reinsurance subsidiary, Endurance Reinsurance Corporation of America. He has previously worked for Converium Reinsurance (North America), Centre Reinsurance Company of New York, NAC Re and Prudential Re.