Endurance appoints global reinsurance head

Bermuda-based Endurance has appointed Stephen Young as chief executive officer (CEO) of global reinsurance.

He succeeds Jerome Faure who will step down from his position on January 1, 2016.

Young currently serves as executive vice president, chief underwriting officer and head of global catastrophe reinsurance. He will retain his role as head of global catastrophe reinsurance.

Young is based in Bermuda and has been with Endurance since 2002.

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."

John Charman, chairman and CEO of Endurance, added: "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."

"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.”