Reinsurer PartnerRe has announced that John Elkann is to be replaced as Chairman of the firm’s Board of Directors by Brian Dowd, effective September 1st, 2018.
Elkann, who is Chairman and Chief Executive Officer (CEO) of EXOR, is to remain on the PartnerRe Board after he steps down as its Chairman.
His replacement, Dowd, was previously Vice Chairman of ACE Limited and also a member of the ACE Group’s Office of the Chairman, before he retired in 2015.
Elkann, commented: “Over the past two years, under Emmanuel Clarke’s leadership, our company has performed strongly notwithstanding challenging market conditions. Our new Chairman Brian Dowd brings with him deep, relevant experience to a further strengthened Board and leadership team, moves which confirm our commitment as EXOR to build an even more successful PartnerRe.”
The Bermuda-based reinsurer has also announced that Board member Nikhil Srinivasan, previously Group Chief Investment Officer (CIO) of Generali and Chairman of Generali Real Estate, is to step down from the Board and take on the role of CIO, subject to customary governmental approvals.
Srinivasan will report to PartnerRe’s President and CEO, Emmanuel Clarke, and will join the reinsurer’s Executive Leadership team.
Clarke, commented: “As a director since August 2016, Nikhil has been a great contributor to our company’s progress, and has provided valuable insight for our investments. I am confident that his extensive career experience in investments will contribute further to the success of our investment operation.”
Srinivasan takes over from Andrea Casarotti, who is to assume the new position of Head of Corporate Planning, and also reporting to Clarke.
Furthermore, PartnerRe has revealed that effective September 1st, 2018, Mary Ann Brown, who was most recently Chair of Pacific Life Re, will join the Board as an independent director. Before Pacific Life, Brown held numerous executive roles at New York Life, MetLife, and Swiss Re.