PartnerRe’s Exec. VP, CFO Benchimol to Step Down in December

July 12, 2010

Bermuda-bsed PartnerRe Ltd. announced that Executive Vice President and Chief Financial Officer Albert Benchimol will leave the Company, effective December 31, 2010.

He has served as EVP & CFO since he joined PartnerRe in 2000. In 2007, he took on the additional role of CEO of the Company’s Capital Markets Group. The bulletin noted that “over the past decade, the Company has solidified its position as a top 5 global reinsurer.”

Under Benchimol’s leadership, Partner Re has “built one of the strongest balance sheets in the industry with over $8 billion in capital and $18 billion in invested assets and cash, reflected by the second highest ratings package in the industry,” said the announcement.

Benchimol commented: “Over the past ten years, I have been part of PartnerRe’s evolution to a truly first class reinsurer, and I am proud to have been part of that success. PartnerRe is about to enter a new phase, with a new executive management team. I am confident they and the rest of my friends at PartnerRe will continue to build on the progress we have achieved. As for me, this transition marks a new beginning, and I look forward to new challenges and opportunities in the next phase of my career.”

CEO Patrick Thiele described Benchimol as an “important member of the Executive team at PartnerRe for more than a decade.” He added that his “financial acumen, demonstrated leadership, good judgment and dedication to the people in the organization have made him a significant contributor to the success of the Company.

“I am confident that all of these qualities will ensure Albert’s success in whatever he chooses as the next stage of his career and we wish him well.”

Source: PartnerRe

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