PEMBROKE, Bermuda--(BUSINESS WIRE)--RenaissanceRe Holdings Ltd. (NYSE:RNR) (“RenaissanceRe”) announced today the following succession changes at RenaissanceRe Syndicate Management Limited (“RSM”) effective for 2016.
At that time, Hugh Brennan, currently RSM’s Finance Director, will be appointed to the role of Chief Executive Officer of RSM. Mr. Brennan joined RenaissanceRe in Bermuda in 2009, subsequently moving to London and assuming a series of positions of increasing responsibility. Previously, Mr. Brennan spent nine years with a global public accounting firm working in Dublin, New York and Bermuda.
Richard Murphy, who has served as Chief Executive Officer of RSM and its successors since its formation in 2002, will retire from that position and be appointed Chairman of the Board of RSM. The appointments are subject to customary Lloyd's and regulatory approvals.
Kevin O’Donnell, Chief Executive Officer of RenaissanceRe Holdings Ltd., said: “We want to thank Richard for bringing his deep expertise in the Lloyd’s market to our Syndicate since our founding, and are delighted he will continue as Chairman of RSM.
Hugh is an ideal successor as he brings many years of global finance experience to the role, and has been a valued part of our team in both our Bermuda and London platforms.
Our Syndicate has developed into a meaningful franchise of RenaissanceRe and enhances our ability to serve clients, and to match risk and capital on a global basis. I am pleased that we have established a strong presence in the market due to the investments we have made in people, technology and infrastructure.”
RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance. The Company’s business consists of three reportable segments: (1) Catastrophe Reinsurance, which includes catastrophe reinsurance and certain property catastrophe joint ventures managed by the Company’s ventures unit; (2) Specialty Reinsurance, which includes specialty reinsurance and certain specialty joint ventures managed by the Company’s ventures unit; and (3) Lloyd’s, which includes reinsurance and insurance business written through RenaissanceRe Syndicate 1458, of which RSM is the managing agent.
For more information, visit www.renre.com