(Bloomberg) — General Re Corp., one of the reinsurance units atWarren Buffett's Berkshire Hathaway Inc., named Robert M. Jones andCarole M. Ferrero to lead direct sales of property-casualtycoverage.

Jones will be in charge of marketing and Ferrero will be globalchief underwriter, according to a statement from the division ofOmaha, Nebraska-based Berkshire. The company said that Mo Tooker,who used to lead Gen Re's direct property-casualty business, hadresigned.

“I am confident Bob and Carole will lead our reinsurancebusiness to new heights, delivering differentiated products andservices as well as unparalleled underwriting expertise,” Gen ReChief Executive Officer Tad Montross said in the statement.

Hedge funds, pensions and other institutional investors havebeen plowing more capital into the reinsurance market to boostreturns and diversify beyond stocks and bonds. That's pushed downthe rates that companies like Gen Re, Munich Re and Swiss Re AGcharge to help insurance companies shoulder the costliest ofclaims.

Gen Re said Ken Lundgren was promoted to vice chairman and willreport to Montross. Martin G. Hacala, global chief claims managerfor the company, will take over some roles previously held byJones, according to the statement.

Buffett, 84, uses premiums held by insurance and reinsuranceunits at Berkshire to fund his stock picks and acquisitions. Inaddition to Gen Re, the company has a namesake reinsuranceoperation run by Ajit Jain. Berkshire also sells insurance throughother subsidiaries, like auto carrier Geico.

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