Endurance Specialty Holdings Ltd.

Mr. D'Onofrio joins Endurance from AXA Corporate Solutions Reinsurance Corporation where he served as Senior Vice President, Multi-Line Team Leader. There, he was responsible for managing a substantial portfolio of multi-line treaty reinsurance, including property, automobile and general liability business. Prior to that, he served as Senior Vice President, Property Division Manager at Gerling Global Reinsurance Corporation of America. A graduate of Yale University, Mr. D'Onofrio has over 13 years of insurance, reinsurance, and research experience.

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Stephen Young joined Endurance in March of 2002. He is a Vice President in the Property Treaty department. From 1997 to 2002, Stephen was an underwriter at Scandinavian Re, a Bermuda based finite reinsurer. Stephen graduated from Babson College in 1993 with a Bachelor of Science degree in Finance/Investments. Stephen attained his Associate in Reinsurance designation in 2000 and is currently working towards his Chartered Property Casualty Underwriter designation.

Richard C. Perry currently serves as a director of PAV Republic and as one of Republic Engineered Products, Inc.'s directors. Mr. Perry is the President of Perry Capital, which he co-founded in 1988. Mr. Perry is also a director of Endurance Specialty Insurance Ltd. and Radio & Records, Inc., and a member of the boards of trustees of the Allen Stevenson School, Milton Academy, Facing History and Ourselves, Harlem Children's Zone and the Wharton Undergraduate Executive Board. Mr. Perry received a Bachelor of Science from the Wharton School of the University of Pennsylvania and a Masters of Business Administration from New York University's Stern School of Business. Mr. Perry has also served as an Adjunct Associate Professor at New York University's Stern School of Business.

Robert A. Spass has served as a Director since July 1999. Mr. Spass is the Chairman of the Board, Chief Executive Officer, a Partner and co-founder of Capital Z, which owns 23.5% of our voting stock, and Chairman of the Board, Chief Executive Officer, a Partner and co-founder of Union Square Partners Management, LLC, the successor firm of Capital Z Management, LLC. Union Square, an affiliate of Capital Z's successor fund, is the owner of approximately 4.9% of our voting stock, assuming that requisite clearances, approvals or waivers are obtained that would permit the exchange of the shares of series A preferred stock for shares of series B preferred stock. Prior to founding Capital Z in 1998, Mr. Spass was the Managing Partner and co-founder of Insurance Partners, L.P. from 1994 to 1998. Prior to the formation of Insurance Partners, L.P., Mr. Spass was President and CEO of International Insurance Advisors L.P. from 1990 to 1994. Prior to that, Mr. Spass was a Director of Investment Banking at Salomon Brothers from 1984 to 1990 and a Senior Manager for Peat Marwick Main & Co. from 1978 to 1984. Mr. Spass serves on the board of directors of Endurance Specialty Holdings, Ltd., and Lancashire Holdings Limited.

Therese M. Vaughan has been a director of the Company and Principal Life since November of 2005. Dr. Vaughan is the Robb B. Kelley Distinguished Professor of Insurance and Actuarial Science at Drake University. From 1994-2004, Dr. Vaughan served as the Iowa Insurance Commissioner, and was President of the National Association of Insurance Commissioners in 2002. Dr. Vaughan represents the American Academy of Actuaries at the Solvency and Regulation Committees of the International Actuarial Association, is a director of the Insurance Marketplace Standards Association and the National Council on Compensation Insurance. She is a member of the Board of Trustees of the American Institute for Chartered Property Casualty Underwriters and a director of Endurance Specialty Holdings Ltd., a public company that is a global provider of specialty lines property and casualty insurance and reinsurance. Dr. Vaughan is a member of the Audit Committee of the Board.