White Mountains senior partner is new president and CEO.

Steven E. Fass has been elected president and chief executive officer of the White Mountains Insurance Group Ltd. Fass, who has been a senior partner for nearly 10 years as head of reinsurance operations, will continue to serve as a director of the company.

Fass takes the place of Ray Barrette, who has retired from his management positions within the company and also has left its board of directors. Barrette will remain to work with Fass and help to facilitate a smooth changeover.

Jack Byrne, chairman of the executive committee of the White Mountains Group board of directors, noted Fass' experience in a statement: "Steve is a proven, talented executive with the right combination of industry and management experience to lead White Mountains. He brings a wealth of expertise built over an impressive 35-year career in the insurance industry."

Fass has held numerous leadership positions for the White Mountains Insurance Group, and was elected to the board of directors in 2000. His term expires in 2007. Prior to joining White Mountains, Fass was president and chief executive officer of Folksamerica Holding Company, Inc., which the White Mountains Group acquired in 1998.

In a statement, Fass said he looks forward to working with the board of directors in his new role: "White Mountains is a unique and exceptional company with a proven track record of success. I am confident ... the company will prosper and we will continue to create value for our shareholders," he said.