General Re Corp., the reinsurance subsidiary of Berkshire Hathaway, announced that Andrew D’Arcy will become head of Gen Re International Property & Casualty.
D’Arcy will relinquish the role of CEO of Faraday, Gen Re’s Lloyd’s operation, which manages Syndicate 435. D’Arcy will join the General Reinsurance AG executive management board.
In his new role, D’Arcy will oversee Gen Re’s international direct property and casualty reinsurance business as well as the broker market business handled through the Faraday platforms. The appointment is effective May 1, 2019 and subject to regulatory approvals.
In the announcement, Gen Re described the move as a consolidation of its international P/C management.
In a separate appointment, Tom Shelley will assume the role of Faraday CEO and Chris Thorne will assume the position of Faraday chief underwriting officer. Gen Re Chairman Charles Shamieh will join the Faraday board of directors.
Gen Re and Faraday will continue to offer their reinsurance and insurance solutions in their respective markets.
Source: Gen Re
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