Endurance opens new subsidiary in the UK

New Bermudian insurance and reinsurance group Endurance Specialty has set up a UK subsidiary, called Endurance Worldwide Insurance Ltd (EWIL), to write commercial insurance and reinsurance in the UK. The new subsidiary starts with a capitalization of £140mn, of which £100mn has been paid in. Initially EWIL will focus on commercial property risks, mostly from the UK, and international treaty reinsurance, sourced mainly from Europe. The company plans to write other lines of insurance and reinsurance at a later date.