Endurance Specialty Holdings Ltd. (Endurance Holdings) is a holding company. Through its operating subsidiaries based in Bermuda, the United Kingdom and the United States, the Company underwrites specialty lines of personal and commercial property and casualty insurance and reinsurance on a global basis. The Company’s portfolio of specialty lines of business is organized into two business segments: Insurance and Reinsurance. As of December 31, 2008, Endurance Holdings’ seven wholly owned operating subsidiaries are Endurance Bermuda, Endurance Worldwide Insurance Limited (Endurance U.K.), Endurance Reinsurance Corporation of America (Endurance U.S. Reinsurance), Endurance American Insurance Company (Endurance American), Endurance American Specialty Insurance Company (Endurance American Specialty), American Merchants Casualty Company (American Merchants) and American Agri-Business Insurance Company (ARMtech).