-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0001169232-05-002545.txt : 20050509
<SEC-HEADER>0001169232-05-002545.hdr.sgml : 20050509
<ACCEPTANCE-DATETIME>20050509195620
ACCESSION NUMBER:		0001169232-05-002545
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20050505
FILED AS OF DATE:		20050509
DATE AS OF CHANGE:		20050509

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:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31599
		FILM NUMBER:		05813600

	BUSINESS ADDRESS:	
		STREET 1:		599 LEXINGTON AVE
		STREET 2:		36TH FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		2125834100

	MAIL ADDRESS:	
		STREET 1:		599 LEXINGTON
		STREET 2:		36TH FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>d05-63778_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2005-05-05</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <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>599 LEXINGTON AVE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Ordinary Shares, par value $1.00 per share</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1495733</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Perry Partners, L.P.,</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Ordinary Shares, par value $1.00 per share</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>4479637</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Perry Partners International, Inc.</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Ordinary Shares, par value $1.00 per share</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>63850</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Perry Commitment Fund International, L.P.</value>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Ordinary Shares, par value $1.00 per share</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>36150</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Perry Commitment Fund, L.P.</value>
                    <footnoteId id="F4"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Ordinary Share Purchase Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>22.14</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2003-08-25</value>
            </exerciseDate>
            <expirationDate>
                <value>2013-02-25</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Ordinary Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>1350</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Perry Partners, L.P.</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Ordinary Share Purchase Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>33.91</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2004-11-05</value>
            </exerciseDate>
            <expirationDate>
                <value>2014-05-05</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Ordinary Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>1350</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Perry Partners, L.P.</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Ordinary Share Purchase Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>22.14</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2003-08-25</value>
            </exerciseDate>
            <expirationDate>
                <value>2013-02-25</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Ordinary Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>3650</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Perry Partners International, Inc.</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Ordinary Share Purchase Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>33.91</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2004-11-05</value>
            </exerciseDate>
            <expirationDate>
                <value>2014-05-05</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Ordinary Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>3650</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Perry Partners International, Inc.</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Restricted Share Unit</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F6"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F5"/>
            </exerciseDate>
            <expirationDate>
                <value>2005-10-27</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Ordinary Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>420</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Perry Partners, L.P.</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Restricted Share Unit</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F6"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F5"/>
            </exerciseDate>
            <expirationDate>
                <value>2005-10-27</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Ordinary Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>1330</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Perry Partners International, Inc.</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The general partner of Perry Partners, L.P. is Perry Corp., of which Mr. Perry is the President and the sole shareholder.
Perry Corp. and Mr. Perry may be deemed to have voting and dispositive power with respect to the shares held by Perry
Partners, L.P. Mr. Perry disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest
therein, if any, and this report shall not be deemed an admission that Mr. Perry is the beneficial owner of the shares for
purposes of Section 16 of the Securities and Exchange Act of 1934 or for any other purpose.</footnote>
        <footnote id="F2">The investment manager of Perry Partners International, Inc. is Perry Corp., of which Mr. Perry is the President and the sole
shareholder. Perry Corp. and Mr. Perry may be deemed to have voting and dispositive power with respect to the shares held
by Perry Partners International, Inc. Mr. Perry disclaims beneficial ownership of such shares, except to the extent of his
pecuniary interest therein, if any, and this report shall not be deemed an admission that Mr. Perry is the beneficial owner
of the shares for purposes of Section 16 of the Securities and Exchange Act of 1934 or for any other purpose.</footnote>
        <footnote id="F3">The general partner of Perry Commitment Fund International, L.P. is Perry Commitment International Associates L.L.C., of
which Perry Corp is Managing Member. Mr. Perry is the President and the sole shareholder of Perry Corp. Perry Corp. and
Mr. Perry may be deemed to have voting and dispositive power with respect to the shares held by Perry Commitment Fund
International, L.P. Mr. Perry disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest
therein, if any, and this report shall not be deemed an admission that Mr. Perry is the beneficial owner of the shares for
purposes of Section 16 of the Securities and Exchange Act of 1934 or for any other purpose.</footnote>
        <footnote id="F4">The general partner of Perry Commitment Fund, L.P. is Perry Commitment Associates L.L.C., of which Perry Corp is Managing
Member. Mr. Perry is the President and the sole shareholder of Perry Corp. Perry Corp. and Mr. Perry may be deemed to have
voting and dispositive power with respect to the shares held by Perry Commitment Fund, L.P. Mr. Perry disclaims beneficial
ownership of such shares, except to the extent of his pecuniary interest therein, if any, and this report shall not be
deemed an admission that Mr. Perry is the beneficial owner of the shares for purposes of Section 16 of the Securities and
Exchange Act of 1934 or for any other purpose.</footnote>
        <footnote id="F5">The restricted share units convert into ordinary shares on October 27, 2005 unless Mr. Perry is no longer a member of the
Company's Board of Directors on that date.</footnote>
        <footnote id="F6">The restricted share units were delivered pursuant to the Amended and Restated 2003 Non-Employee Director Incentive Plan on
April 27, 2005. The closing price of the Company's Ordinary Shares on April 27, 2005 was $36.11.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Richard C. Perry, President</signatureName>
        <signatureDate>2005-05-09</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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