S&P: Endurance view to positive

S&P said it revised the outlook on Endurance Specialty Holdings Ltd. and its operating companies to positive from stable.

The agency also said it affirmed the BBB+ long-term counterparty credit rating on Endurance Specialty Holdings and A long-term counterparty credit and financial strength ratings on Endurance's operating subsidiaries.

The outlook revision reflects a view that Endurance will become a cornerstone within Sompo Holdings Inc.'s international strategy, S&P said.

Endurance's executive leadership will remain and manage all non-Japan based operations in the U.S. and Europe, which will become Sompo International, the agency said.

The ratings reflect a view that under Sompo's ownership Endurance will preserve its extremely strong capitalization with an intact balance sheet, S&P said.

Endurance will continue to focus on enhancing its product and geographic mix, increasing diversification by line of business, the agency said, and expanding its international presence by leveraging Sompo's worldwide license network.

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