Faraday underwriting chief seen as `squeaky clean' and `his own man'

Lloyd's has named its first franchise performance director as Rolf Tolle

Tolle is currently Faraday Group's chief underwriting officer. Before working at Faraday he was chief executive of Europa Re in Cologne for ten years.

His is the final appointment to the franchise board, a central initiative of the Chairman's Strategy Group (CSG) proposals.

The appointment has been keenly awaited, as it is thought that the board's director will have a strong influence over the direction it takes.

Tolle commented: "I am looking forward to playing a key role in implementing those [CSG] reforms and modernising the market during this exciting time and hope to help it to capitalise on today's strong performance.

"This should ensure Lloyd's is better prepared for any future downturn ."

It is understood that Lloyd's has negotiated with Faraday for Tolle to take up his new position in February.

One senior Lloyd's insurer said: "Tolle is prepared to be his own man. He has good attention to detail and the ability to be an independent-thinker.

"He is not a gambler - but that is what we are trying to stop with the franchise."

Another Lloyd's player said Tolle's image was "squeaky clean" and that he was "obviously highly competent".

Faraday congratulated Tolle and said it will deal with his by departure by broadening the responsibilities of underwriting managers Mark Rayner, Paul Ceurvorst and Christopher Hancock.