Jerome Faure, who recently left his role as a Partner at ILS Capital Management, has reappeared in a new role at Bermuda-based specialty provider of property and casualty insurance and reinsurance Endurance Specialty Holdings Ltd. Faure joins the firm on the 11th March 2013 as Chief Executive Officer, Global Reinsurance, which will see him take responsibility for Endurance’s North America, Bermuda and international reinsurance operations.
Faure has a 25 year career in insurance and reinsurance, most recently with Bermuda based ILS Capital Management in Bermuda as a Partner focusing on Insurance Linked Securities, Industry Loss Warranties and collateralized reinsurance. Prior to that Faure was Director and Chief Underwriting Officer for Tokio Millennium Re, Ltd. where he managed their Bermuda-based reinsurance operations. He began his career with French reinsurer SCOR, who he held a number of positions with over the years resulting in Faure holding the role of President & Chief Executive Officer of SCOR US Corporation and becoming a member of the SCOR Group Executive Committee responsible for worldwide Property & Casualty.
David Cash, Chief Executive Officer of Endurance, commented on the appointment; “Jerome is highly regarded in the reinsurance industry for his ability to strategically build businesses across the full breadth of underwriting products. His extensive international experience and relationships will be a welcome addition to our leadership team and we look forward to working with Jerome to expand Endurance’s global reinsurance footprint.”
Mr. Faure said; “I am very pleased to have the opportunity to work with Endurance’s leadership, underwriting teams and business partners to build on the company’s many strengths and continue to grow Endurance’s reinsurance business.”
The hire is interestingly timed for Endurance as the firm is increasingly looking at collateralized reinsurance business and is looking to increase its use of third-party capital in its underwriting. Faure is very well placed, particularly with his experience in ILS, ILWs and collateralized covers, to lead this push for Endurance.