RenaissanceRe senior vice president and treasurer Todd Fonner has been promoted to the positions of chief risk officer and chief investment officer.

RenaissanceRe CEO Neill Currie said: ?We are fortunate to have someone of Todd?s calibre to manage these critical aspects of our business and are pleased to recognise his many contributions to Renaissance with this promotion.

?Risk management is a cornerstone of our business and as senior vice president and treasurer, Todd has played a key role in the work we do to manage risk as an organisation and continually improve upon that function.?

?In addition, Todd has done an excellent job acting in the capacity of the chief investment officer since July 2005. It?s more than appropriate that we make that role formal and we look forward to his continued sound stewardship of our investment portfolio.?

In the newly established position of chief risk officer, Mr. Fonner will be responsible for leading the ongoing assessment of the overall risk profile of RenaissanceRe Holdings Ltd.

He will also work closely with business unit leaders to enhance processes to identify, assess, and manage business unit level risks.

To manage the overall enterprise wide risk profile, Mr. Fonner will also work with the chief financial officer, chief compliance officer and chief accounting officer, who will remain responsible for the operational, compliance and regulatory risk and the financial controls of the company.

As chief investment officer, Mr. Fonner will have management and oversight responsibility of the investment portfolio of RenaissanceRe Holdings Ltd., and its subsidiaries and affiliates.

Mr. Fonner will report to Mr. Currie, and will be a member of the Operating Committee. He will continue to serve as senior vice president and treasurer while an external search is undertaken for a successor.

Mr. Fonner, 39, joined RenaissanceRe in 2001 as vice president and treasurer. Prior to joining RenaissanceRe, he served as vice president of Centre Solutions, responsible for underwriting and structuring finance and credit related transactions.

From 1993 to 1996 he served as Manager of Strategic Planning for USF&G. He has over 15 years of insurance and reinsurance industry experience.

Mr. Fonner graduated with a Bachelor of Arts degree in Mathematics from Middlebury College and received an M.B.A. in Finance from the University of Chicago.