Chris Shanahan is to succeed Alan Ryder as chief executive officer, North America Life, at PartnerRe Ltd.

Mr Ryder is to retire on August 31, with Mr Shanahan’s appointment effective the next day.

Mr Shanahan has been serving as president, US Life, for the Bermudian-based global re/insurer.

Marc Archambault, CEO of Life & Health, said: “Alan has had a very full and highly successful career in our industry. As an entrepreneur, he raised $500 million and launched Aurigen, a North American life reinsurance company which PartnerRe acquired in 2017.

“For over a decade Alan has led what has become PartnerRe’s Life & Health operations in North America, developing a successful Canadian franchise and establishing our US platform for future long-term growth in the world’s largest life reinsurance market.”

He added: “I will miss Alan’s clear thinking, strong vision, leadership qualities and passion for our business, and would like to thank him for his invaluable contributions to PartnerRe.”

Mr Shanahan joined PartnerRe in May 2018 as executive vice-president, corporate development, US Life and was appointed president, US Life operations in July 2019.

The company said he has extensive experience in life reinsurance gained over his 25-year career in the industry.

Prior to joining PartnerRe, Mr Shanahan was executive vice-president, Mortality Solutions and Corporate Marketing at Hannover Re in the US, where he had overall responsibility for managing the traditional life reinsurance business, including business development, operations and marketing.

Mr Shanahan will report to Mr Archambault, who said: “I am delighted that Chris has accepted the appointment to CEO, North America and I am confident that under his leadership our Canadian business will continue to thrive and that we will be successful in further developing our US franchise by delivering on our commitment to provide our clients with value, and shareholders with attractive returns.”

Concurrent with this change, the company said André Piché, president, Life & Health Canada has been appointed CEO, Life & Health Canada, effective September 1, and will continue to be responsible for the Canadian life & health business.

Mr Piché will report to Mr Shanahan, who is located in the company’s Charlotte, North Carolina office.