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 The Faraday Group comprises two risk bearing entities, Faraday Re, a AA+ rated London market reinsurance company, and Faraday Syndicate 435 at Lloyd’s; both part of General Re Corporation, a wholly owned subsidiary of Berkshire Hathaway. Legal relationships are depicted below:
The senior management team overseeing Faraday consists of Henry Ashton, Chief Executive Officer, Paul Ceurvorst and Mark Rayner, Joint Chief Underwriting Officers and Active Underwriters. Business is underwritten through three teams: Aviation, Casualty and Property, fully supported by experienced Actuarial, Claims, Underwriting Services and Wordings personnel. Premium for 2011 is forecast to be circa £360m, on a GAAP basis, being sourced from both the Lloyd's and company markets and a diverse Faraday is a market leader in all classes of business underwritten. |
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