Press release form PartnerRe - July 6th 2016 - Source: click here
Pembroke, BERMUDA July 6, 2016 -- PartnerRe has announced a series of appointments, following the reorganization of its business units announced on June 30, 2016.
As previously announced, PartnerRe has restructured its business units in order to better align its global expertise with the needs of its clients and brokers.
As a result of the changes, which took effect on July 1, 2016, PartnerRe now has three worldwide business segments: Property & Casualty, led by Tad Walker; Specialty Lines, led by Charles Goldie; and Life & Health, which continues to be led by Marvin Pestcoe. Further to these executive appointments, the Company has selected the leaders for each of the business sub-segments as follows:
Property & Casualty
Life & Health
In addition, PartnerRe has appointed Scott Altstadt to the newly created role of Chief Underwriting Officer. Reporting to the CEO, the Chief Underwriting Officer will be responsible for ensuring a consistent approach to risk and return across the Group, with responsibility for pricing, modelling and non-Catastrophe retrocession.
Finally, Herve Castella continues to be responsible for sourcing third party capital and catastrophe retrocession, as Head of Third Party Capital, reporting to Tad Walker.
“We are delighted to appoint such highly experienced professionals to lead our underwriting teams,” said Mr. Clarke. “All of these individuals bring a wealth of knowledge and a strong client orientation to their roles. I am confident that together with their teams they will help ensure we are achieving our ambition to build meaningful partnerships with our clients and brokers.”
PartnerRe Ltd. is a leading global reinsurer that helps insurance companies reduce their earnings volatility, strengthen their capital and grow their businesses through reinsurance solutions. Risks are underwritten on a worldwide basis through PartnerRe’s three business segments: Property & Casualty, Specialty Lines and Life & Health. For the year ended December 31, 2015, total revenues were $5.4 billion. At March 31, 2016, total assets were $22.0 billion, total capital was $7.7 billion and total shareholders’ equity attributable to PartnerRe was $6.9 billion. PartnerRe enjoys strong financial strength ratings as follows: A.M. Best A / Moody’s A1 / Standard & Poor’s A+ / Fitch A+
Posted on Friday Jul 8