Faraday chief underwriting officer (CUO) Michael Lange is to leave the Lloyd's underwriter just six months after joining from Cox.

A Faraday source said: "The CUO role hasn't worked out and we expect Lange to leave sometime in November."

Faraday has yet to decide whether it will be appointing a new CUO to replace Lange.

Lange was formerly chief executive of Cox's commercial division before he joined Faraday.

While at Cox, Lange was responsible for managing the run-off of the insurer's commercial division.

Lange left Cox in May after the successful completion of the first phase of the run-off.

Prior to joining Cox, Lange was vice president of Chubb Europe, based in London.