Bermuda-based RenaissanceRe Holdings Ltd. announced on Wednesday that Neill Currie will retire from his position as chief executive officer, and that the current president, Kevin O’Donnell, will succeed Currie in the top spot.
O’Donnell will also join the board of directors.
The moves take effect on July 1.
In a statement, the company that Currie would continue in an advisory capacity to facilitate the transition until the completion of his contract in February 2014.
Currie, who co-founded RenaissanceRe with James Stanard in 1993, actually retired from the company once before—in 1997. He re-joined the company in July 2005 as an executive vice president to oversee the firm-wide marketing and client relations activities, and to lead a specialty underwriting business.
(Editor’s Note: At that time in 2005, RenRe announced that the Securities and Exchange Commission was investigating an earlier earnings restatement and that the federal securities regulator had served Stanard and other executives with Wells Notices.)
In November 2005, Currie assumed the role of CEO and became a director. He became president and CEO in 2008.
O’Donnell joined RenRe in 1996 as an international and ceded reinsurance underwriter and has served in positions of increasing leadership since then. Prior to taking on the role of president in November last year, O’Donnell served as executive vice president and global chief underwriter. In addition, he acted as President of Renaissance Reinsurance Ltd. from 2005, overseeing the company’s reinsurance lines, including property catastrophe, ceded reinsurance, and specialty reinsurance.
According to the company statement, in his various roles, O’Donnell has managed all of the company’s reinsurance operations, had responsibility for direct insurance operations, including at Lloyd’s, and supervised all assumed risk across the enterprise, including the Company’s ventures unit.
RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance. The company’s business consists of two reportable segments. The first is the reinsurance segment, which includes catastrophe reinsurance, specialty reinsurance and certain property catastrophe and specialty joint ventures managed by the company’s ventures unit. The second is the Lloyd’s segment, which includes reinsurance and insurance business written through Syndicate 1458.
Source: RenaissanceRe Holdings Ltd.