Endurance Specialty Holdings Ltd has hired Mark Maritzen to build and lead a new property team within the company’s US insurance operation.

Bermuda-based Endurance said yesterday that Mr Maritzen would work in its New York city office and that his team would focus on retail distribution channels.

Mr Maritzen, who has nearly 20 years of both underwriting and broker roles in the insurance industry, becomes executive vice-president and head of Commercial Property within Endurance’s US insurance operation. He is joined by Sharon Herbert, vice-president, Commercial Property, who also has some two decades of experience in this market.

Mr Maritzen will report to Doug Worman, CEO of US Insurance, with a secondary reporting line to Richard Housley, Global Insurance Property leader.

Mr Worman said: “Mark’s extensive experience in the US property market and his wide network across the broker community will be critical as he and his team quickly build Endurance’s presence in this market. This new property unit complements our existing US wholesale portfolio and is a significant step in the expansion of our integrated global property capabilities.”

Mr Maritzen joins Endurance from Tokio Marine Global where he was senior vice-president, head of US Property. Prior to that, he held a series of management positions at Guy Carpenter in New York from 2005 through 2011, culminating in the role of managing director, head of Guy Carpenter Broking Inc.