Faraday Group chief executive Milan Vukelic has been suspended as the US probe into finite reinsurance deals at General Re gathers strength.
Faraday Group is the London market reinsurance operation of General Re.
On Friday Berkshire Hathaway confirmed in a securities filing that Vukelic had been placed on “administrative leave with pay.”
Last year Vukelic faced suspension by the Australian regulatory authorities over his involvement with finite reinsurance deals with HIH subsidiary FAI.
The suspension was dropped when the Australian regulatory authority concluded that there was insufficient evidence to support it.
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