PEMBROKE, Bermuda, May 15 /PRNewswire-FirstCall/ -- PartnerRe Ltd. (NYSE:PRE) today announced two executive changes in the PartnerRe Global operations. (PartnerRe Global refers to underwriting operations outside the U.S., and is comprised of the Global P&C, Global Specialty and Global Catastrophe units as well as our Life Reinsurance unit).
Costas Miranthis, currently Deputy CEO, PartnerRe Global, will be appointed to the position of CEO, PartnerRe Global, effective July 1, 2008. In conjunction with the appointment of Mr. Miranthis, Bruno Meyenhofer, currently CEO, PartnerRe Global, will be appointed to the newly created position of Chairman, PartnerRe Global, effective the same date. Both positions will report to Patrick Thiele, President and CEO of PartnerRe Ltd.
In July 2007, Costas Miranthis assumed the role of Deputy CEO, Global, and has been responsible for the executive management of PartnerRe's Global business units. Prior to that, Mr. Miranthis served as the Group's Chief Actuarial Officer from 2002-2007. With his promotion to CEO, PartnerRe Global, Mr. Miranthis will expand his responsibility to include all Global operations, including finance, accounting and all support functions.
Bruno Meyenhofer has held the position of CEO, PartnerRe Global and has been a member of the PartnerRe Executive Committee since 1998, when he joined PartnerRe through the Company's acquisition of Winterthur Re. In his role as Chairman, Mr. Meyenhofer will remain a member of PartnerRe's Executive Committee, where he will continue to provide advice and counsel on strategic initiatives as well as corporate and business development for the Group. He will also oversee Global business development and will represent PartnerRe in the external regulatory and insurance communities.
PartnerRe President and CEO Patrick Thiele said, "Costas' strong executive skills and operational experience, demonstrated first as Chief Actuarial Officer and reinforced in the past year as Deputy CEO, Global, position him well for this role and I know that Costas will continue to lead the Global operations effectively.
"We are also fortunate to continue to have Bruno's executive guidance, advice and counsel going forward. His excellent leadership skills and dedication to the organization and its people have helped lead PartnerRe to its current position of strength and profitability. Bruno will continue to play an essential role in PartnerRe's future development." PartnerRe Ltd. is a leading global reinsurer, providing multi-line reinsurance to insurance companies. The Company, through its wholly owned subsidiaries, also offers alternative risk 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, life/annuity and health, and alternative risk products. For the year ended December 31, 2007, total revenues were $4.2 billion. At March 31, 2008, total assets were $17.3 billion, total capital was $5.3 billion and total shareholders' equity was $4.5 billion.
PartnerRe on the Internet: http://www.partnerre.com/ Contacts: PartnerRe Ltd. Sard Verbinnen & Co. (441) 292-0888 (212) 687-8080
Investor Contact: Robin Sidders Drew Brown/Jane Simmons
Media Contact: Celia Powell
DATASOURCE: PartnerRe Ltd.
CONTACT: Investor Contact: Robin Sidders, or Media Contact: Celia Powell, +1-441-292-0888, both of PartnerRe Ltd.; or Drew Brown, or Jane Simmons, both of Sard Verbinnen & Co., +1-212-687-8080, for PartnerRe Ltd.
Web site: http://www.partnerre.com/
|