PEMBROKE, Bermuda--(BUSINESS WIRE)--PartnerRe Ltd. today announced the formation of a new organizational structure that will enable the Company to provide increased value to its clients around the world. The restructuring of PartnerRe’s business is aimed at better aligning its global expertise with the needs of its client base.
“As part of a process to review how to best serve our clients and brokers, we have taken the time to listen to what they need and the demands they face,” said Emmanuel Clarke, President and CEO of PartnerRe. “As a result, we have implemented changes to our structure to make it easier for our partners to do business with us.”
Effective July 1, 2016, PartnerRe’s business units have been consolidated into three important worldwide business segments:
- Property & Casualty, led by Tad Walker
- Specialty Lines, led by Charles Goldie
- Life & Health, which continues to be led by Marvin Pestcoe
The Property & Casualty segment will provide holistic access to property and casualty risks, including property catastrophe and facultative through five regional units: North America; Europe; Asia; Latin America; and Middle East, Africa & Russia.
The Specialty Lines segment will leverage the Company’s deep technical expertise on a worldwide basis through a centralized specialty unit offering specialty lines treaty and facultative solutions.
The Life & Health segment will operate as a worldwide specialist unit, taking an integrated approach to client needs.
“These changes are part of an ongoing evolution,” Mr. Clarke continued. “With a highly diversified product offering of non-life and life reinsurance worldwide and solid financial strength, PartnerRe is already well positioned to meet our clients’ evolving reinsurance needs. Over time, our clients will also experience PartnerRe as an organization that lives up to its name - able to build meaningful partnerships that help our clients address their risk needs and grow their business.”
PartnerRe Ltd. is a leading global reinsurer that helps insurance companies reduce their earnings volatility, strengthen their capital and grow their businesses through reinsurance solutions. Risks are underwritten on a worldwide basis through PartnerRe’s three business segments: Property & Casualty, Specialty Lines and Life & Health. For the year ended December 31, 2015, total revenues were $5.4 billion. At March 31, 2016, total assets were $22.0 billion, total capital was $7.7 billion and total shareholders’ equity attributable to PartnerRe was $6.9 billion. PartnerRe enjoys strong financial strength ratings as follows: A.M. Best A / Moody’s A1 / Standard & Poor’s A+ / Fitch A+.
PartnerRe on the Internet: www.partnerre.com