PartnerRe, in the process of being acquired by the Italian investment firm EXOR, has had an interim leader for months. The Bermuda-based reinsurer has finally addressed this, naming a new president from within its ranks.
Emmanuel Clarke assumed his latest executive role at the company as of Sept. 8, and will be tasked with leading and managing PartnerRe’s operations. David Zwiener, interim president and CEO since Jan. 26, will keep his position as interim CEO. He’ll work on bringing the $6.9 billion acquisition to a successful conclusion (by the 2016 first quarter) and then step down, PartnerRe said.
EXOR backs both appointments, according to PartnerRe.
PartnerRe board chairman Jean-Paul Montupet said in prepared remarks that Clarke has long been a standout over his 18-year career with the insurer. Clarke started as an underwriter in 1997 and held various executive positions before most recently becoming CEO of PartnerRe Global. In this role, he helped restructure the division to make it better aligned with PartnerRe client needs. PartnerRe said that Clarke was “instrumental” in building its global reinsurance business.
The rest of PartnerRe’s executive team will stay the same, including William Babcock as chief financial officer, Laurie Desmet as chief operations officer and Tad Walker as CEO of North America.
Clarke, in a statement, said he was honored to accept his new position “at this important time” in PartnerRe’s history.
Replacing Clarke as CEO of PartnerRe Global: Charles Goldie, who was previously deputy CEO of the division.
Walker, meanwhile will assume executive responsibility for PartnerRe’s catastrophe business unit. Also, Marvin Pestcoe is rejoining the insurer as interim CEO of life and health. He had retired in April 2014, but continued to work with the insurer as a consultant.