PartnerRe Ltd. Announces Changes in its Global Non-Life Operations
PEMBROKE, Bermuda -- April 16, 2013
PartnerRe Ltd. (NYSE:PRE) today announced changes to the structure of its
Global Non-Life Operations, and as a result, made new management appointments.
The changes take effect on May 1, 2013.
PartnerRe’s Global Property & Casualty Business Unit will be split into two
dedicated teams in order to meet the respective needs of the Company’s clients
in both mature and high-growth markets. Both teams will report directly to
Emmanuel Clarke, CEO PartnerRe Global. As a result of this change:
*Christophe Renia, Head of Credit & Surety, Global Specialty Lines, has
been promoted to the new position of Head of Mature Markets, P&C. Mr.
Renia joined PartnerRe in 2009.
*Salvatore Orlando, Head of P&C Mediterranean Europe, Middle East, Africa
and Latin America, has been promoted to the new position of Head of High
Growth Markets. Mr. Orlando joined PartnerRe in 1998.
In addition, the Company announced several new appointments:
*Scott Altstadt, Chief Underwriting Officer for P&C Global, has been
promoted to Chief Underwriting Officer for all Global business units. He
will report to Emmanuel Clarke, CEO PartnerRe Global. Mr. Altstadt joined
PartnerRe in 2001.
*Patrick Chevrel, Head of Specialty Property Lines, has been promoted to
head the newly formed Global Accounts team, which will focus on providing
holistic reinsurance solutions to the Company’s largest worldwide clients.
Mr. Chevrel will co-report to Emmanuel Clarke, CEO PartnerRe Global, and
Tad Walker, CEO PartnerRe North America. Mr. Chevrel joined PartnerRe in
*Alain Flandrin, Head of Property & Casualty, will relocate to Singapore to
lead the Company’s growing Asia Pacific platform. Mr. Flandrin joined
PartnerRe in 2002.
Commenting on these changes, Emmanuel Clarke, CEO PartnerRe Global, said,
“These organizational changes reflect our focus on providing efficient
solutions to meet the evolving needs and reinsurance buying preferences of our
clients. I congratulate Christophe, Salvatore, Scott, Patrick and Alain on
their appointments and I am confident that they will provide excellent
leadership in their respective new roles."
PartnerRe Ltd. is a leading global reinsurer, providing multi-line reinsurance
to insurance companies. The Company, through its wholly owned subsidiaries,
also offers capital markets products that include weather and credit
protection to financial, industrial and service companies. Risks reinsured
include property, casualty, motor, agriculture, aviation/space, catastrophe,
credit/surety, engineering, energy, marine, specialty property, specialty
casualty, multiline and other lines in its Non-life operations, mortality,
longevity and accident and health in its Life operations, and alternative risk
products. For the year ended December 31, 2012, total revenues were $5.6
billion. At December 31, 2012, total assets were $23.0 billion, total capital
was $7.7 billion and total shareholders’ equity was $6.9 billion.
Robin Sidders, +1 441 292-0888
North America/Bermuda: Celia Powell, +1 441 292-0888
Europe: Eija Tuulensuu, +41 44 385 3627; Natalia Vayner-Heyraud, +33 1 44 01
Sard Verbinnen & Co
Drew Brown/Daniel Goldstein, +1 212 687-8080
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