- Appoints Emmanuel Clarke Head of Specialty Lines, Global
PEMBROKE, Bermuda, June 2 /PRNewswire-FirstCall/ -- PartnerRe Ltd. (NYSE:PRE) today announced several leadership changes in its Global (Non-U.S.) Operations.
Emmanuel Clarke has been appointed Head of Specialty Lines, Global, effective September 1, 2008. Mr. Clarke will be responsible for all of PartnerRe's specialty lines business outside of the U.S. including agriculture, credit & surety, specialty casualty, and specialty property, as well as on a worldwide basis for aviation / apace, credit, energy onshore, engineering, marine / energy offshore and facultative property. He will report to Costas Miranthis, CEO of PartnerRe Global.
Mr. Clarke succeeds Kurt Angst, who has decided to retire in December 2008, after 40 years in the reinsurance industry. Mr. Angst joined PartnerRe in 1999 through the acquisition of Winterthur Re, and since that time has been leading the Specialty Lines business unit in PartnerRe Global.
With 14 years experience in the reinsurance industry, Mr. Clarke is currently Head of Property and Casualty, Global. Mr. Clarke joined PartnerRe in 1997, with the acquisition of SAFR, and was appointed Head of the Credit and Surety department in 2001, and additionally Deputy Head of Specialty Lines in 2002. Although his appointment is effective September 1, 2008, Mr. Clarke will be working closely with Kurt Angst, until his retirement at the end of the year, to ensure a smooth transition.
Concurrent with Mr. Clarke's appointment, Alain Flandrin will be appointed Head of Property and Casualty, Global, also reporting to Costas Miranthis. Mr. Flandrin has led the France/Benelux/Canada team for Global P&C since 2006. Mr. Flandrin joined PartnerRe in 2002, when he established the Specialty Casualty department for the Company's non-U.S. markets. Prior to joining PartnerRe, Mr. Flandrin was General Manager for France for The St. Paul Companies.
PartnerRe Ltd. President and CEO, Patrick Thiele said, "First, I would like to thank Kurt Angst for his dedication and leadership during his time at PartnerRe. He has made a valuable contribution to our successful transition from a mono-line catastrophe reinsurer to a well diversified reinsurance partner for clients and brokers worldwide. At the same time, he has made sure that we have the underwriting and leadership talent in place to maintain our current position of strength.
"Second, I want to extend my congratulations to Emmanuel and Alain on their new roles. Emmanuel has successfully held a number of important positions, most recently executing PartnerRe's P&C strategy outside the U.S. Alain's strong reinsurance background and knowledge of the property and casualty markets will be essential in maintaining and strengthening our position going forward. Both will be very valuable members of the senior management team." As a result of these appointments, there are several additional leadership changes in the Global P&C business unit, also effective September 1, 2008: Scott Altstadt, currently Chief Pricing Actuary, Property & Casualty, Global, will be appointed to the newly created position of Deputy Head of Property and Casualty, Global, while retaining his current role. As the deputy head of the business unit, Mr. Altstadt will provide support to Mr. Flandrin in all underwriting and portfolio management matters.
Patrick Chevrel, currently senior underwriter for Netherlands, will succeed Alain Flandrin as Head of P&C France/Benelux. In his current role, Mr. Chevrel has been supporting Mr. Flandrin in the management of the France/Benelux/Canada team.
Francis Blumberg, Head of PartnerRe's Canada operations, will be appointed to the newly created position of Head of P&C Canada. Mr. Blumberg will continue in his current role.
Patrick Thiele concluded, "I would also like to congratulate Scott, Patrick and Francis on their new appointments. I am confident that together, they will lead the Global P&C teams effectively." 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, Media Contact: Celia Powell, PartnerRe Ltd., +1-441-292-0888; or Drew Brown, or Jane Simmons, Sard Verbinnen & Co, +1-212-687-8080 Web site: http://www.partnerre.com/
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