PEMBROKE, Bermuda, September 22, 2020 – PartnerRe Ltd. (“PartnerRe”) today announced the appointment of Nicholas Hughes as Head of Retrocession along with two new hires which further expand the Company’s Retrocession Team.
In this newly created role, Mr. Hughes will lead PartnerRe’s strengthened retrocession team as part of its strategic growth plan for Global Catastrophe. Based in PartnerRe’s Bermuda office, Mr. Hughes will continue to report to Greg Haft, CEO Global Catastrophe.
Mr. Hughes most recently held the position of Head of Global Catastrophe at PartnerRe, including responsibility for assumed retrocession and the global accounts portfolio. He joined the Company in 2008 specializing in U.S., international and retro catastrophe underwriting and portfolio management.
Aaron Coates and Guy Hengesbaugh will join PartnerRe’s retrocession team as Assumed Retrocession Underwriters, effective November 7, 2020, and October 1, 2020 respectively. Mr. Coates will relocate to Bermuda, subject to immigration approval and Mr. Hengesbaugh will be based in Bermuda. Both will report to Nicholas Hughes, as will Mark Mitchell, who already works as VP, Senior Underwriter within the retrocession team.
Mr. Coates joins us from Twelve Capital, most recently as Executive Director, ILS sourcing, responsible for developing the underwriting strategy within the retro market and delivery of profitable private ILS investment portfolios to third-party investors.
Mr. Hengesbaugh, who joins on a consultancy basis, brings over 35 years of reinsurance experience – and more than 26 years in the Bermuda market – where he has most recently served as Managing Director at Guy Carpenter Bermuda, focusing on reinsurance and retrocessional business for Bermuda and U.S. clients.
“I am excited to welcome Aaron and Guy to the PartnerRe team. As the catastrophe market shifts, we anticipate an increasing demand in the retrocession space for known and trusted providers with well-rated paper. We are thus adding to our incumbent talent to build a powerhouse retro team under Nick’s leadership, to fill this important market need,” said Mr. Haft.
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, 2019, total revenues were $7.9 billion. At June 30, 2020, total assets were $25.2 billion, total capital was $8.3 billion and total shareholders’ equity was $6.9 billion. PartnerRe maintains strong financial strength ratings as follows: A.M. Best A+ / Moody’s A1 / Standard & Poor’s A+.
|Media Contact: Elizabeth Deacon|