Four former General Re employees have dropped appeals against their disqualification from working in the industry because of their dealings with FAI Insurance.

They are two former employees of General Re’s Dublin-based Alternative Solutions Group, John Houldsworth and Tore Ellingsen, and two former executives of General Re’s operations in Australia, Andrew Smith and John (Lindsay) Self.

Former General & Cologne Re Australia MD Geoffrey Barnum and Christopher Byatt, the former GM of Finance, are continuing their appeals. They are expected to be heard by the Administrative Appeals Tribunal in November.

In January the Australian Prudential Regulation Authority (APRA) revoked its disqualification order against former General Re employee Milan Vukelic, who was until recently CEO of the London-based Faraday Group. In a filing with the Financial Services Authority in the UK, General Re owner Berkshire Hathaway said it terminated Mr Vukelic’s employment in July.

Stephen Glenfield, APRA’s GM of the Specialised Institutions division for the south-west region, said the regulator doesn’t shy away from doing its job properly.

Answering a question about the length of APRA’s bans – they are for life – he said such bans prove “we do have a presence and APRA does have teeth”.

Mr Glenfield also said it is important for APRA to encourage more whistleblowers within financial services companies.