Bermuda-based White Mountains Insurance Group Ltd. announced the election of Steven Fass as president and chief executive officer, effective immediately. He remains a director of the company.
Fass succeeds Ray Barrette, who has decided to retire from his management positions with the company, and, since he is no longer an executive, to leave the Board.
Fass has been a senior partner at White Mountains for nearly a decade as head of reinsurance operations. Under his leadership, White Mountains Re has become one of the largest reinsurance operations in the world. Fass led the company’s acquisition of Sirius International in 2004 and has overseen the development of Esurance over the past five years. Fass is also a director of OneBeacon Insurance Group, White Mountains’ largest operating subsidiary.
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