SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* AON CORP (Last) (First) (Middle) AON CORPORATION - CORPORATE LAW DEPT 200 EAST RANDOLPH STREET, 8TH FLOOR (Street) CHICAGO IL 60601 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol ENDURANCE SPECIALTY HOLDINGS LTD [ enh ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 12/22/2003
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Ordinary Shares, par value $1.00	12/22/2003		S		18,256	D	$19.72	427,905	D
Ordinary Shares, par value $1.00	12/22/2003		S		48,054	D	$20.81	379,851	D
Ordinary Shares, par value $1.00								11,552,265	I	By Subsidiaries and Aon Pension Plan(1)(2)(3)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person* AON CORP (Last) (First) (Middle) AON CORPORATION - CORPORATE LAW DEPT 200 EAST RANDOLPH STREET, 8TH FLOOR (Street) CHICAGO IL 60601 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* COMBINED SPECIALTY INSURANCE CO OF AMERICA (Last) (First) (Middle) AON CORPORATION - CORPORATE LAW DEPT 200 EAST RANDOLPH STREET, 8TH FLOOR (Street) CHICAGO IL 60601 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* COMBINED INSURANCE CO OF AMERICA (Last) (First) (Middle) AON CORPORATION - CORPORATE LAW DEPT 200 EAST RANDOLPH DRIVE, 8TH FLOOR (Street) CHICAGO IL 60601 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* RESOURCE LIFE INSURANCE CO (Last) (First) (Middle) AON CORPORATION - CORPORATE LAW DEPT 200 EAST RANDOLPH STREET, 8TH FLOOR (Street) CHICAGO IL 60601 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* LONDON GENERAL INSURANCE CO LTD (Last) (First) (Middle) AON CORPORATION - CORPORATE LAW DEPT (Street) CHICAGO IL 60601 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* STERLING LIFE INSURANCE CO INC (Last) (First) (Middle) AON CORPORATION - CORPORATE LAW DEPT 200 EAST RANDOLPH STREET, 8TH FLOOR (Street) CHICAGO IL 60601 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* COMBINED LIFE ASSURANCE CO OF EUROPE LTD (Last) (First) (Middle) AON CORPORATION - CORPORATE LAW DEPT 200 EAST RANDOLPH STREET, 8TH FLOOR (Street) CHICAGO IL 60601 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. The designated Reporting Person, Aon Corporation ("Aon"), is filing this Form 4 on behalf of itself, Virginia Surety Company (formerly known as Combined Specialty Insurance Company)("VSC"), Combined Insurance Company of America ("CICA"), Resource Life Insurance Company ("Resource"), London General Insurance Company ("London General"), Sterling Life Insurance Company ("Sterling") and Combined Life Assurance Company of Europe Ltd. ("CLACE").

2. Aon, VSC, CICA, Resource, London General, Sterling and CLACE share the address reported herein. The I.R.S. Identification Numbers for the entities are as follows: VSC - 36-3186541, CICA - 36-2136262, Resource - 47-0482911 and Sterling - 13-1867829. Neither London General nor CLACE has been assigned an I.R.S. Identification Number, as London General is incorporated under the laws of the United Kingdom and CLACE is incorporated under the laws of Ireland.

3. Aon indirectly beneficially owns the securities being reported herein due to its status as the parent corporation of VSC, CICA, Resource, London General, Sterling and CLACE. Aon's subsidiaries own the following number of ordinary shares of Endurance: VSC - 8,735,294, CICA - 1,769,471, Resource - 150,000, London General - 115,000, Sterling - 100,000 and CLACE - 75,000. Aon also is deemed to indirectly beneficially own 607,500 ordinary shares of Endurance held by the Aon Pension Plan.

	/s/ Jennifer L. Kraft pursuant to a power of attorney from Aon Corporation	12/23/2003
	/s/ Jennifer L. Kraft pursuant to a power of attorney from Virginia Surety Company	12/23/2003
	/s/ Jennifer L. Kraft pursuant to a power of attorney from Combined Insurance Company of America	12/23/2003
	/s/ Jennifer L. Kraft pursuant to a power of attorney from Resource Life Insurance Company	12/23/2003
	/s/ Jennifer L. Kraft pursuant to a power of attorney from London General Insurance Company Ltd.	12/23/2003
	/s/ Jennifer L. Kraft pursuant to a power of attorney from Sterling Life Insurance Company, Inc.	12/23/2003
	/s/ Jennifer L. Kraft pursuant to a power of attorney from Combined Life Assurance Company of Europe Ltd.	12/23/2003
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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