Global reinsurer PartnerRe Ltd. has revealed an executive leadership shuffle, with two new CEOs in its non-life business. Effective June 01, Philippe Meyenhofer will be appointed CEO of specialty lines, while Greg Haft will assume the newly created role of CEO global cat.
Meyenhofer (pictured above left) joined PartnerRe in August 2010 and held several leadership positions prior to his current role as CEO P&C EMEA, including acting as head of P&C Europe from July 2016 to April 2019. He’s described by Partner Re CEO Emmanuel Clarke as having “a proven track record of leading technical, complex businesses” with the skills needed to lead the specialty lines unit.
Haft, who is currently CEO specialty lines and a member of PartnerRe’s executive leadership team, is taking the CEO reins of a newly formed global catastrophe unit. The unit will bring together the reinsurer’s centrally managed property cat portfolio and the group cat technical functions of research, modelling and portfolio management. Haft has experience in the area, having led PartnerRe’s catastrophe unit for five years as head of global cat and property North America, after joining the company in 2013.
“Specialty lines and global cat are critical to our performance and success as a global diversified reinsurer, with unique leadership requirements,” said Clarke. “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.
“At the same time, the newly created global cat unit will enhance our ability to deploy our cat capacity with a more centralised 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.”
The reinsurer also announced that 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. Furthermore, Nick Hughes, head of global cat, will report to new CEO Haft and will be responsible for an expanded cat portfolio, including US cat as well as specific, large monoline relationships.
“I’m pleased we can fill these roles with our existing talent and leadership,” Clarke added. “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 organisation and our business partners.”