Endurance Specialty Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced that Jerome Faure will step down from the position of chief executive officer, Global Reinsurance, on January 1, 2016 and will retire from Endurance at the end of the first quarter of 2016.
Stephen Young, currently executive vice president, chief underwriting officer and head of Global Catastrophe Reinsurance, will succeed Faure, effective January 1, 2016. Young will retain his role as head of Global Catastrophe Reinsurance in addition to his new role of CEO, Global Reinsurance. Young is based in Bermuda and has been with Endurance since 2002.
The Endurance Re global leadership team will report to Young upon his assumption of the role of CEO, Global Reinsurance. The members include:
- Christopher Donelan, president and chief underwriting officer, Endurance Re U.S. Donelan will also assume the role of chief underwriting officer, head of Global Casualty Reinsurance,
- Peter Mills, chief underwriting officer, head of Global Specialty Reinsurance & Europe Property & Casualty Reinsurance,
- Rene Lamer, chief executive, Singapore Branch, head of Asia Pacific Catastrophe Reinsurance.
Commenting on his retirement after nearly 30 years in the reinsurance industry, Faure said: “I have been very fortunate throughout my career to have worked with many talented individuals and have thoroughly enjoyed my time at Endurance. I am confident that I am turning over the keys to an exceptionally strong reinsurance leadership team who are more than capable to lead Endurance Re well into the future. While I look forward to my upcoming retirement and spending more time with my family, I will miss my colleagues at Endurance and wish them much future success.”
“Jerome has been a highly valued partner and an integral driver of the transformation of Endurance Re over the last few years. I want to thank him for his lasting contributions to our success and wish him much enjoyment and good health in his upcoming retirement,” said John R. Charman, chairman and CEO of Endurance.
“We are very fortunate to have in Stephen Young a distinctly qualified successor, with extensive global experience during his tenure at Endurance Re, to take the reins from Jerome. Over the next few months, I look forward to working closely with both Jerome and Stephen to ensure a smooth and seamless transition on January 1,” Charman said.
Source: Endurance Specialty Holdings Ltd.
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