World reinsurer PartnerRe Ltd (PartnerRe) has confirmed that CEO Jacques Bonneau is about to retire from the corporate, efficient April 1, 2024, with Philippe Meyenhofer taking the reins as CEO and becoming a member of the board of administrators.

To make sure a easy transition, Jon Colello – at present serving as CEO of P&C Americas – will moreover assume the function of PartnerRe president, overseeing all non-life underwriting and reporting on to Meyenhofer. Within the interim, Bonneau will delegate nearly all of his duties to Meyenhofer and Colello.

New CEO

Meyenhofer, who has been with PartnerRe since 2010, has ascended by way of the ranks over time. His journey has included appointments as head of specialty casualty PartnerRe world in 2013, head of Europe P&C in 2016, and deputy CEO P&C in 2018. In 2020, Meyenhofer assumed the function of CEO of PartnerRe’s specialty traces.

In his new function, Meyenhofer will proceed to be based mostly within the firm’s Zurich workplace.

New president

Colello, a member of PartnerRe’s government management staff, has been chargeable for main the property & casualty enterprise within the US, Canada, and Latin America, together with overseeing the corporate’s well being enterprise within the US since becoming a member of in 2019.

In his new function, Colello will proceed to be based mostly in Stamford.

Different appointments

With fast impact, Christian Mitterer assumed government duty for specialty traces as specialty traces CEO, whereas Ingrid Gjonaj joined the chief management staff as P&C EMEA CEO.

Mitterer, a member of the chief management staff since 2012, beforehand served as CEO P&C EMEA.

Gjonaj, who has been with PartnerRe since 2006, has held senior positions in authorized and underwriting and at present serves as head of area for Western and Southern Europe.

Board welcomes management staff overhaul

Commenting on the appointments, PartnerRe chairman Thierry Derez emphasised the organisation’s inner expertise pool.

“The truth that we’re within the place to nominate PartnerRe’s subsequent CEO and president from inside the firm speaks to the energy and depth of expertise within the organisation. Collectively, Philippe and Jon carry a wealth of business expertise, confirmed enterprise and management expertise, and powerful monitor document in underwriting mixed with a deep data of PartnerRe’s purchasers, brokers, and workers,” he mentioned.

Derez expressed gratitude to Bonneau for his management over the previous three and a half years, emphasising the strengthening of the corporate’s enterprise, strategic positioning, monetary outcomes, and operational excellence below his stewardship.

“Jacques additionally led the profitable transition to Covéa possession. Jacques has been a really devoted and powerful chief and we want him all the very best in his retirement,” he mentioned.

Bonneau mentioned: “I’m happy with what we’ve achieved and the progress we have made in our numerous enterprise and help items and operations with the advance in our executional efficiency and supply for our quite a few stakeholders.

“I’m assured PartnerRe is properly positioned for future success and Philippe, Jon, and the chief management staff present continuity with their in-depth data and perception of PartnerRe’s folks and enterprise.”