PEMBROKE, Bermuda, July 13, 2022 – PartnerRe Ltd. today announced that, in connection with the close of the transaction announced on July 12, 2022, Thierry Derez, Chief Executive Officer of Covéa Group, will replace Brian Dowd as Chairman of the Company’s Board of Directors. Mr. Dowd will remain on the Board as an independent director, along with existing independent directors Mary Ann Brown and Hermann Pohlchristoph. PartnerRe President and CEO, Jacques Bonneau will also remain on the Board.
At the same time, the Company announced that Enrico Vellano and António Horta-Osório have resigned from the Board, in connection with the close.
Joining the Board are Maud Petit, Chief Financial Officer and deputy CEO Covéa Group, and Thierry Francq, General Manager for Transformation and International Activities Covéa Group. Ms. Petit was named Chief Financial Officer and deputy CEO of Covéa Group in 2018 and brings more than 25 years of experience in the re/insurance industry. Mr. Francq, former General Secretary of the French Financial Markets Supervisory Authority, joined Covéa in 2018 as Chief of Staff to the Chairman and Chief Executive Officer, before being appointed General Manager Strategy and Transformation in December 2019 and then Group General Manager for Transformation and International Activities in 2020.
Commenting on the appointments, Jacques Bonneau said, “On behalf of the Board, I would like to thank Enrico and Antonio for their valuable contributions during their time on the PartnerRe Board. I would also like to welcome our new Chairman and Board members, who will further strengthen the Board’s breadth and depth of talent and will bring a new and valuable perspective.”
With these changes the PartnerRe Ltd. Board will comprise seven directors of which three are independent directors.
PartnerRe Ltd. is a leading global reinsurer that helps insurance companies reduce their earnings volatility, strengthen their capital and grow their businesses through reinsurance solutions. Risks are underwritten on a worldwide basis through the Company’s three segments: P&C, Specialty, and Life and Health. For the year ended December 31, 2020, total revenues were $7.4 billion. At September 30, 2021, total assets were $28.3 billion, total capital was $9.1 billion and total shareholders’ equity was $7.2 billion. PartnerRe maintains strong financial strength ratings as follows: A.M. Best A+ / Moody’s A1 / Standard & Poor’s A+.
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