Bermuda-based reinsurer PartnerRe has announced changes to the responsibilities of executive leadership within Specialty Lines and has created the new role of chief executive officer for Global Cat.
Greg Haft will assume the role of CEO Global Cat, effective 1 June 2020. This is a newly created unit which will see him bring together the firm’s centrally managed property cat portfolio and the group cat technical functions of research, modeling and portfolio management.
Haft is currently CEO of Specialty Lines and a member of the Executive Leadership Team.
Philippe Meyenhofer will replace Haft as CEO of Specialty Lines. He is currently CEO P&C EMEA and a member of the Executive Leadership Team. Meyenhofer joined the company in 2010 and held several leadership positions prior to his current role, most recently as Head of P&C Europe from July 2016 to April 2019.
Christian Mitterer, currently head of specialty casualty in P&C EMEA, will assume the role of head of P&C EMEA, reporting to Emmanuel Clarke.
Mitterer has been leading PartnerRe’s Specialty Casualty unit within P&C EMEA since 2016.
Nick Hughes, head of global cat, will report to Haft and be responsible for an expanded Cat portfolio, including US Cat as well as specific, large monoline relationships.
Joe Hooks, head of the North America Cat team, will report to Hughes.
With these changes, the composition of the Company’s Executive Leadership Team remains the same.
Clarke commented: “Specialty Lines and Global Cat are critical to our performance and success as a global diversified reinsurer, with unique leadership requirements. Going forward, as markets improve, we need to ensure the Specialty book can deliver sustainable profitability and we can fully leverage our expertise and relationships to grow profitably in this diverse segment. Philippe has a proven track record of leading technical, complex businesses and has the skills needed to lead this unit.”
“At the same time, the newly created Global Cat unit will enhance our ability to deploy our Cat capacity with a more centralized steering of our portfolio management. Greg’s deep knowledge of the catastrophe business, his franchise in the Cat market and his experience in leading our Cat unit make him the right choice to help advance our strategy and performance.”
Adding: “I am pleased we can fill these roles with our existing talent and leadership. As a result, this allows us to act now, ensuring we are well positioned as we respond to a fast-improving market, with leaders who are well known to the organization and our business partners.”