Endurance Specialty Holdings Limited have promoted David S. Cash to the position of Chief Underwriting Officer and promoted Daniel M. Izard to the position of President of Endurance Specialty Insurance Limited.

Both promotions are effective upon approval by the Bermuda Department of Immigration. Mr. Cash, the current President of Endurance Bermuda, joined Endurance in December 2001.

Mr. Cash has been the President of Endurance?s Bermuda subsidiary since December 2004. Prior to assuming responsibility for Endurance Bermuda, he was Endurance?s Chief Actuary and Chief Risk Officer.

He came to Endurance from Centre Solutions Limited in Bermuda where he was a Vice President.

Prior to working in the insurance and reinsurance industry, Mr. Cash served as a consultant actuary at Tillinghast/Towers Perrin in New York.

Mr. Cash received a MSc (Masters in Science) in Mathematics from Oxford University which he attended as a Rhodes Scholar.

He is also a Fellow of the Casualty Actuarial Society and a Member of the American Academy of Actuaries and a native of Bermuda.

Mr. Izard joined Endurance in 2002 and has served as head of Endurance Bermuda?s Aviation Underwriting Department and, most recently, as the Chief Operating Officer of Endurance Bermuda.

Prior to joining Endurance, Mr. Izard served for 14 years as President and Chief Executive Officer of Associated Aviation Underwriters, Incorporated (AAU), a managing general underwriter owned by Chubb and CNA.

Mr. Izard held numerous positions within AAU including Director of Reinsurance, Senior Vice President/Director of National Accounts, and Executive Vice President and Chief Operating Officer.

He has also served as President of the London-based International Union of Aviation Insurers, and as Chairman of the Associate Member Advisory Council and member of the Board of Directors of the National Business Aviation Association.

Mr. Izard began his aviation career as a pilot and officer in the US Air Force. Mr. Izard is currently a Trustee of Embry-Riddle Aeronautical University and a member of the Board of Directors of Duncan Aviation, Incorporated.

In 1994, Mr. Izzard received the Flight Safety Foundation?s Business Aviation Meritorious Award and received his degree from the University of Illinois, where he graduated with honors.

Kenneth J. LeStrange, Chairman, President and Chief Executive Officer said: ?The promotions of David and Dan to their new positions at Endurance represent a recognition of their fine intellects, astute business sense and dedication to Endurance.?

?I look forward to the greater contributions each will be able to bring to Endurance through their broader roles within the company.?

Steven W. Carlsen, Chief Operating Officer and Chairman of the Underwriting Committee, said: ?David?s promotion to the position of Chief Underwriting Officer will ensure Endurance maintains its commitment to the highest underwriting standards.

?Dan?s 30 years of experience as both an underwriter and a manager will provide us with the leadership required at our largest subsidiary.?

Assured Guaranty Limited have appointed David Penchoff as President and Chief Operating Officer of Assured Guaranty Re Limited effective immediately.

Mr. Penchoff will report to Dominic Frederico, President and Chief Executive Officer of Assured Guaranty and will be responsible for AG Re?s underwriting and related administrative functions.

Mr. Penchoff?s appointment is subject to Bermuda Immigration approval.

Mr. Frederico said: ?We are pleased that David will be leading our reinsurance business going forward.

?He has provided strong leadership to our reinsurance underwriting team and will now be in a position to broaden his contributions to the company.?

Mr. Penchoff has more than 20 years of experience in the US and international fixed income markets, with a specialisation in public finance and was appointed Chief Underwriting Officer of AG Re in 2004.

Mr. Penchoff?s previous experience included 10 years at MBIA Insurance Corporation (MBIA), where he was a managing director of public finance with responsibility for business development and underwriting.

Prior to MBIA he was a vice president in the Bond Insurance Ratings Group at Standard & Poor?s.

Mr. Penchoff received his graduate degree in public administration from the University of Southern California and his undergraduate degree from the University of Connecticut.

He succeeds Pierre Samson, who will be leaving the company at the end of the year.