-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 ClVpQVoFNwxzHI3HiDlVduYT0mH0ChScyu1mr4jobncN8jndUl0zLNZiTp5pIu+M
 SKlCTCa/V74qUy0JxZHLjA==

<SEC-DOCUMENT>0001011438-09-000392.txt : 20090522
<SEC-HEADER>0001011438-09-000392.hdr.sgml : 20090522
<ACCEPTANCE-DATETIME>20090518163119
ACCESSION NUMBER:		0001011438-09-000392
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20090514
FILED AS OF DATE:		20090518
DATE AS OF CHANGE:		20090518

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ENDURANCE SPECIALTY HOLDINGS LTD
		CENTRAL INDEX KEY:			0001179755
		STANDARD INDUSTRIAL CLASSIFICATION:	FIRE, MARINE & CASUALTY INSURANCE [6331]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		4 PAR LA VILLE ROAD
		CITY:			HAMILTON HM 08 BERMUDA
		STATE:			D0
		ZIP:			00000
		BUSINESS PHONE:		441-278-0400

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			PERRY CORP
		CENTRAL INDEX KEY:			0000919085
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31599
		FILM NUMBER:		09837047

	BUSINESS ADDRESS:	
		STREET 1:		767 FIFTH AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10153
		BUSINESS PHONE:		2125834000

	MAIL ADDRESS:	
		STREET 1:		767 FIFTH AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10153
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edg09-0179_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2009-05-14</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001179755</issuerCik>
        <issuerName>ENDURANCE SPECIALTY HOLDINGS LTD</issuerName>
        <issuerTradingSymbol>ENH</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000919085</rptOwnerCik>
            <rptOwnerName>PERRY CORP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>767 FIFTH AVENUE, 19TH FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10153</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Ordinary Shares, par value $1.00 per share</value>
            </securityTitle>
            <transactionDate>
                <value>2009-05-14</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>703</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1868851</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Perry Partners, L.P.</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Ordinary Shares, par value $1.00 per share</value>
            </securityTitle>
            <transactionDate>
                <value>2009-05-14</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1983</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>5272295</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Perry Partners International, Inc.</value>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The restricted ordinary shares were granted pursuant to the terms of the 2007 Equity Incentive Plan of Endurance Specialty
 Holdings Ltd. and vest in full one year from the date of grant.</footnote>
        <footnote id="F2">The managing general partner of Perry Partners, L.P. is Perry Corp., of which Mr. Richard Perry is the President and sole
 shareholder.  Perry Corp. and Mr. Perry may be deemed to have voting and dispositive power with respect to shares held by
 Perry Partners, L.P.  Each of Mr. Perry and Perry Corp. disclaims beneficial ownership of such shares, except to the extent
 of his or its pecuniary interest therein, if any, and this report shall not be deemed an admission that either Mr. Perry or
 Perry Corp. is the beneficial owner of the shares for purposes of Section 16 of the Exchange Act or for any other purpose.</footnote>
        <footnote id="F3">The investment manager of Perry Partners International, Inc. is Perry Corp., of which Mr. Perry is the President and sole
 shareholder.  Perry Corp. and Mr. Perry may be deemed to have voting and dispositive power with respect to shares held by
 Perry Partners International, Inc.  Each of Mr. Perry and Perry Corp. disclaims beneficial ownership of such shares, except
 to the extent of his or its pecuniary interest therein, if any, and this report shall not be deemed an admission that either
 Mr. Perry or Perry Capital is the beneficial owner of the shares for the purposes of Section 16 of the Exchange Act or for
 any other purpose.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Richard C. Perry</signatureName>
        <signatureDate>2009-05-18</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----