Bermuda-based reinsurer PartnerRe has announced that Philippe Meyenhofer will become its new Chief Executive Officer (CEO) when Jacques Bonneau retires from the company later this year, with Jon Colello set to assume the additional role of President of the company.
Bonneau took over as PartnerRe President and CEO in July 2020 following the departure of Emmanuel Clarke. He is set to retire from the company on April 1st, 2024, and during the interim, will delegate most of his duties to Meyenhofer and Colello to ensure a smooth transition.
“I am proud of what we have achieved and the progress we’ve made in our various Business and Support Units and operations with the improvement in our executional performance and delivery for our numerous stakeholders. I am confident PartnerRe is well positioned for future success and Philippe, Jon and the Executive Leadership Team provide continuity with their in-depth knowledge and insight of PartnerRe’s people and business,” said Bonneau.
Meyenhofer, who succeeds Bonneau as CEO and takes his place on the reinsurer’s Board of Directors, joined the company in 2010 and has held roles of increasing leadership, most recently as a member of the Executive Leadership Team and CEO of Specialty Lines.
In 2013, he was named Head of Specialty Casualty PartnerRe Global, before taking on the role of Head of Europe P&C in 2016, later assuming the additional responsibility of Deputy CEO P&C in 2018. He was appointed CEO of the firm’s Specialty Lines business in 2020.
In his new role as CEO of PartnerRe, he will continue to be based in the firm’s Zurich office.
Colello joined PartnerRe in 2019, and since then has served as a member of the Executive Leadership Team and has had executive responsibility for leading PartnerRe’s Property & Casualty business in the US, Canada, and Latin America, and also for the reinsurer’s Health business in the US.
He will remain PartnerRe’s CEO, P&C Americas, and from April 1st assumes the added role of President, taking over executive responsibility for all Non-Life Underwriting at the firm.
In his new role, Colello will report to Meyenhofer, and continue to be based in Stamford.
With Meyenhofer taking over as CEO, PartnerRe has revealed that Christian Mitterer assumes executive responsibility for Specialty Lines as CEO, and Ingrid Gjonaj joins the Executive Leadership Team as CEO, P&C EMEA, effective immediately.
Mitterer is a member of the firm’s Executive Leadership Team and has served in various senior roles since joining PartnerRe in 2012, most recently as CEO P&C EMEA.
Gjonaj started with the reinsurer in 2006, and during this time, has held senior positions in Legal, and underwriting in Specialty Casualty, P&C, and currently serves as Head of region, Western and Southern Europe.
Thierry Derez, Chairman of the PartnerRe Board of Directors, commented: “The fact that we are in the position to appoint PartnerRe’s next CEO and President from within the Company speaks to the strength and depth of talent in the organization. Together, Philippe and Jon bring a wealth of industry experience, proven business and leadership skills, and strong track record in underwriting combined with a deep knowledge of PartnerRe’ clients, brokers and employees.
“On behalf of the Board, I would like to express our gratitude and appreciation to Jacques for his stewardship as CEO and President over the past three and a half years. Under his leadership, the Company’s business, strategic positioning, financial results, and operational excellence have been strengthened in important ways. Jacques also led the successful transition to Covéa ownership. Jacques has been a very dedicated and strong leader and we wish him all the best in his retirement.”
