Reinsurance firm PartnerRe has recruited a top executive from Axis — the firm that made an unsuccessful bid to merge with PartnerRe.

Dan Bolgar, formerly chief executive officer at Axis Accident & Health Insurance, will become head of health at PartnerRe later this month.

The appointment follows the announcement by Dennis Heinzig, the head of health and president of PartnerRe America Insurance Co, that he will retire next year.

Marvin Pestcoe, the interim CEO of health and life at PartnerRe, said: “We welcome Dan’s experience and impressive track record in the accident and health sector and look forward to working with him at an exciting time for PartnerRe.”

Axis lost out earlier this year in a bidding war with Italian investment giant Exor, controlled by the billionaire Agnelli family, for control of PartnerRe.

Mr Pestcoe added: “While it is with regret that we say goodbye to Dennis, we wish him all the best in his retirement. He is an experienced and talented leader in the health reinsurance sector and has brought tremendous value to PartnerRe and to the industry over the years.”

Mr Bolgar, who will be based in PartnerRe’s Minneapolis office, said: “PartnerRe has an incredibly strong team and platform from which to build an even stronger presence around the world.

“I look forward to working with the team to deliver innovative accident and health solutions for PartnerRe’s clients and brokers.”