I. 2005-A Year in Review
This panel will review the tumultuous past year in the industry. They will begin with a review of the pre-Katrina underwriting and competitive environment. They will then review the devastating impact of the three hurricanes, the lessons learned from these events, and the subsequent flow of capital into the industry. Finally, they will discuss their views of the underwriting environment in 2006 and how they see the market evolving over the next year.

Moderator:
Michael E. Angelina, Chief Actuary, Endurance Specialty Holdings Ltd.
Panelists:
Kenneth J. LeStrange, Chairman, President and Chief Executive Officer, Endurance Specialty Holdings Ltd.
Rod Thaler, Executive Vice President and National Director, Willis Re

II. 2005-A Year in Review-The External Focus
This panel will review the events of 2005 and their impact from an outside perspective, including the rating agencies, capital markets, and modelling vendors. An analyst from one of the rating agencies and an investment firm will discuss how their view of capital requirements and other rating criteria has changed for existing companies as well as the new start-ups.

We will also hear from one of the modelling vendors and how their view of hurricane frequency, severity, and other loss modelling has changed with the new models released in late May.

Moderator:
Michael E. Angelina, Chief Actuary & Chief Risk Officer, Endurance Specialty Holdings, Ltd.
Panelists:
Damien Magarelli, Director, Standard & Poors
Peter Nakada, Managing Director, RMS Consulting
TBD