PartnerRe to replace two retiring executives
Reinsurer PartnerRe is on the lookout for two senior executives to fill the shoes of two of its top managers who will retire next year.
Tad Walker, CEO of property and casualty, and chief risk and actuarial officer Marvin Pestcoe will step down at the end of March next year.
Emanuel Clarke, PartnerRe president and CEO, said: “Tad has been an important member of PartnerRe’s executive team during a critical period as we transitioned PartnerRe to private ownership and established a new strategy and structure.”
He added Mr Walker had been instrumental in establishing a new property and casualty global leadership team.
Mr Pestcoe, who retired from PartnerRe in 2014 as CEO of life and health, rejoined the firm after it was taken over by Italian investment giant Exor in 2015 as interim CEO in the same role.
He extended his commitment in 2016 and took over the new role of chief risk and actuarial officer.
Mr Clarke said: “Since Marvin first assumed the leadership of life and health in 2011, we have significantly expanded our offering to clients, most recently with the acquisition of Aurigen Re in North America.
“Marvin has also strengthened our risk, capital and reserving teams and processes, ensuring they are well positioned for a new executive leader to build upon.”
Mr Clarke added that the firm is conducting searches for successors to the two executives.
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