PartnerRe Ltd. Announces Changes in its Global Non-Life Operations

PEMBROKE, Bermuda–(BUSINESS WIRE)– PartnerRe Ltd. (NYSE:PRE) today announced changes to the structure of its Global Non-Life Operations, and as a result, made new management appointments. The changes take effect on May 1, 2013.

PartnerRe’s Global Property & Casualty Business Unit will be split into two dedicated teams in order to meet the respective needs of the Company’s clients in both mature and high-growth markets. Both teams will report directly to Emmanuel Clarke, CEO PartnerRe Global. As a result of this change:

Christophe Renia, Head of Credit & Surety, Global Specialty Lines, has been promoted to the new position of Head of Mature Markets, P&C. Mr. Renia joined PartnerRe in 2009.
Salvatore Orlando, Head of P&C Mediterranean Europe, Middle East, Africa and Latin America, has been promoted to the new position of Head of High Growth Markets. Mr. Orlando joined PartnerRe in 1998.

In addition, the Company announced several new appointments:

Scott Altstadt, Chief Underwriting Officer for P&C Global, has been promoted to Chief Underwriting Officer for all Global business units. He will report to Emmanuel Clarke, CEO PartnerRe Global. Mr. Altstadt joined PartnerRe in 2001.
Patrick Chevrel, Head of Specialty Property Lines, has been promoted to head the newly formed Global Accounts team, which will focus on providing holistic reinsurance solutions to the Company’s largest worldwide clients. Mr. Chevrel will co-report to Emmanuel Clarke, CEO PartnerRe Global, and Tad Walker, CEO PartnerRe North America. Mr. Chevrel joined PartnerRe in 1997.
Alain Flandrin, Head of Property & Casualty, will relocate to Singapore to lead the Company’s growing Asia Pacific platform. Mr. Flandrin joined PartnerRe in 2002.

Commenting on these changes, Emmanuel Clarke, CEO PartnerRe Global, said, “These organizational changes reflect our focus on providing efficient solutions to meet the evolving needs and reinsurance buying preferences of our clients. I congratulate Christophe, Salvatore, Scott, Patrick and Alain on their appointments and I am confident that they will provide excellent leadership in their respective new roles.”

PartnerRe Ltd. is a leading global reinsurer, providing multi-line reinsurance to insurance companies. The Company, through its wholly owned subsidiaries, also offers capital markets 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 in its Non-life operations, mortality, longevity and accident and health in its Life operations, and alternative risk products. For the year ended December 31, 2012, total revenues were $5.6 billion. At December 31, 2012, total assets were $23.0 billion, total capital was $7.7 billion and total shareholders’ equity was $6.9 billion.

PartnerRe Ltd.
Robin Sidders, +1 441 292-0888
North America/Bermuda: Celia Powell, +1 441 292-0888
Europe: Eija Tuulensuu, +41 44 385 3627; Natalia Vayner-Heyraud, +33 1 44 01 37 31
Sard Verbinnen & Co
Drew Brown/Daniel Goldstein, +1 212 687-8080

Source: PartnerRe Ltd.

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