RenaissanceRe CIO and treasurer steps down

RenaissanceRe’s senior vice president, chief investment officer and treasurer, Todd Fonner is stepping down as of end of March 2017; the company is now assigning his responsibilities to two of its senior executives.

Sean Brosnan has been promoted to senior vice president, chief investment officer.

He most recently served as managing director of investment for Renaissance Services of Europe, and chief executive officer of Renaissance Reinsurance of Europe

Prior to this, Brosnan served as head of portfolio construction at Irish Life Investment Managers.

Aditya Dutt, the president of RenaissanceRe Ventures, is to take on the additional role as treasurer of RenaissanceRe.

Dutt currently structure and manages RenaissanceRe’s joint ventures, including DaVinci Re, Top Layer Re, Upsilon Fund and Medici Fund.

He also directs RenaissanceRe’s portfolio of strategic investments and insurance-linked securities.

Both of these appointments are effective March 1, 2017.

“These appointments are reflective of the strength of RenaissanceRe’s executive bench and underscore how comfortable Bob is with his senior leadership team,” said Kevin O’Donnell, CEO.

“Aditya is already a vital member of our executive team who will now take on additional responsibilities and we are confident that as chief investment officer, Sean will continue to execute our investment strategy.”

Robert Qutub, chief financial officer, commented: “Sean is a talented executive who has worked closely with Todd since joining the company in 2004 and has been very involved in the management of our investments.

“The role of Treasurer is a natural extension of Aditya’s responsibilities and one for which he is well qualified, with his deep knowledge of our capital structure and established relationships in the investment community.”
Qutub added: “We are grateful for the talent and dedication Todd brought to his roles at RenaissanceRe over the course of the past 15 years.

“We appreciate his decision to leave the company to pursue other opportunities and wish him all the best. Todd will support us in an advisory capacity for a period following his departure.”