PartnerRe shuffles specialty lines leadership structure in growth push

Bermuda-based reinsurer PartnerRe has made changes to its executive leadership for specialty lines, including creating a new role of CEO global catastrophe, in a move it hopes will help deliver sustainable profitability.

Philippe Meyenhofer will be appointed CEO specialty lines. Currently CEO P&C EMEA and member of the executive leadership team, Meyenhofer joined the company in August 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.

Greg Haft will assume the role of CEO global cat, a newly created unit which will bring together its centrally managed property cat portfolio and the group cat technical functions of research, modeling and portfolio management. Haft, currently CEO specialty lines and member of the executive leadership team, led PartnerRe’s cat unit for 5 years as head of global cat and property North America, after joining the company in 2013.

Furthermore, 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.

Finally, Nick Hughes, head of global cat, will report to Haft and will 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.

PartnerRe CEO Emmanuel Clarke said: “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.”

Clarke added: “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.”