Reinsurer PartnerRe has announced the hiring of a new Chief Risk and Actuarial Officer, appointing Turab Hussain to the role effective December 4th 2017.
Hussain joins PartnerRe from The Hartford Financial Services Group, where he has served as Chief Insurance Risk Officer since 2014. He will replace Marvin Pestcoe when he retires in 2018.
In the role, he will join the PartnerRe executive management team, having executive responsibility for risk management, capital modeling and reserving, and will work from PartnerRe’s Stamford office.
PartnerRe President and CEO Emmanuel Clarke commented on the hire, “I am delighted to welcome a risk and actuarial professional with Turab’s technical background and experience to PartnerRe. This position represents functions that play an important role in both our business and strategic decision-making. Turab’s experience in leading teams of actuaries and risk professionals as well as multi-disciplinary teams across segments and business lines, make him an excellent fit for this role.”
Hussain has held a number of senior positions in actuarial and underwriting functions in the re/insurance industry, with responsibility for reserving, risk assessment, capital allocation and analysis at The Hartford as well as Arch Insurance Group and American Reinsurance.
Hussain will replace Marvin Pestcoe, who will retire in 2018 following a handover period. Pestcoe has worked at PartnerRe since 2001 in a number of executive positions, including, CEO Life & Health, Chief Investment Officer, and Head of Strategic Ventures. He then retired in 2014 but rejoined the firm in 2015 at the time of the EXOR acquisition, again as CEO of Life and Health, and committed himself to the reinsurer in 2016 taking on the new role of Chief Risk and Actuarial Officer.
Clarke continued, “I am grateful to Marvin for returning to the Company, first to transition leadership of our Life and Health operations to Marc Archambault and then to establish the role of Chief Risk and Actuarial Officer. Since Marvin first assumed the leadership of Life & Health in 2011, we have significantly expanded our offering to clients, most recently with the acquisition of Aurigen Re in North America. As Chief Risk and Actuarial Officer, Marvin has also strengthened our risk, capital and reserving teams and processes, ensuring they are well positioned for a new executive leader to build upon.”
