Lloyd’s Faraday Announces Underwriting Appointments

February 2, 2006

Faraday Group, the broker-focused Lloyd’s managing agent and London-based reinsurance group, announced the approval of the appointments of Mark Rayner and Paul Ceurvorst as joint Chief Underwriting Officer and Active Underwriter by Lloyd’s and the U.K.’s Financial Services Authority.

The Faraday Group is the Lloyd’s vehicle ultimately controlled by General Re Corporation, a wholly owned subsidiary of Berkshire Hathaway. It includes the operations of Cologne Re of London, a London market reinsurance company, and DP Mann Syndicate 435 at Lloyd’s.

“Rayner and Ceurvorst have each been with Faraday in senior underwriting roles for over ten years,” said the announcement. “In their new role, they will take on responsibility for the underwriting strategy of Faraday Underwriting Limited, managing agency for Lloyd’s Syndicate 435, and Faraday Reinsurance Co. Limited.

“Rayner, who is also made a Board Director of both Faraday companies, will continue to act as Underwriting Director of the Property Team responsible for all aspects of underwriting strategy for both insurance and reinsurance activities.

“Ceurvorst, who is already a Director of Faraday Reinsurance Co. Limited, will become a Board Director of Faraday Underwriting Limited. He will also continue to undertake his activities as Underwriting Director for the Casualty Team.”

Commenting on the appointments Milan Vukelic, Faraday’s Chief Executive stated: “Mark and Paul will bring, not only, a wealth of valuable underwriting experience but, also, a clear understanding of the strengths of the Faraday business. This combination and their focus on underwriting excellence and commitment to underwriting discipline will, I am sure, deliver excellent results for the group going forward.”

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