Faraday CEO to step down

The chief executive officer of Faraday, the Gen Re owned group which consists of Syndicate 435 and Faraday Re, is set to step down in March 2016.

Paul Ceurvorst will be succeeded by Pietro Toffanello, subject to UK regulatory approval.

Toffanello will remain in his current role as Gen Re’s property and casualty regional manager for Asia-Pacific and managing director of Gen Re Australia until August 2015, when he will join Faraday.

Damon Vocke, president of General Re Corporation and chairman of Faraday, said: “Paul has made many valuable contributions during his years of service for Faraday, and we wish him all the very best in retirement next year.

“I am confident that Pietro’s proven track record of leadership, business acumen and client focus will ensure that we continue to build upon Faraday’s success as a market leader with a strong record of profitability.”