Elkann Steps Down as Chairman of PartnerRe, Succeeded by Dowd

PartnerRe Ltd. announced that Brian Dowd will succeed John Elkann as chairman of the company’s board of directors, effective Sept. 1. Elkann, who is chairman and CEO of PartnerRe’s parent company, EXOR, will remain on the board.

Before he retired in 2015, Dowd was vice chairman of ACE Ltd. – a role he had held since 2009. Dowd started at ACE in 1997, where he held various roles before becoming chairman of ACE’s Insurance – North America business segment in 2006.

Prior to 1997, Dowd held underwriting positions of increasing responsibility at Arkwright Mutual Insurance Co. over a seven-year period, according to his biography on PartnerRe’s website. He holds a Bachelor of Science in Finance from Northern Illinois University as well as the Chartered Property Casualty Underwriter (CPCU) professional designation.

“Over the past two years, under Emmanuel Clarke’s leadership, our company has performed strongly, notwithstanding challenging market conditions,” commented Elkann. “Our new chairman Brian Dowd brings with him deep, relevant experience to a further strengthened board and leadership team, moves which confirm our commitment as EXOR to build an even more successful PartnerRe.”

The company also announced that Nikhil Srinivasan will step down from the board in order to assume the role of chief investment officer, subject to customary governmental approvals. Srinivasan will report to President and CEO Emmanuel Clarke and will join the company’s executive leadership team. “As a director since August 2016, Nikhil has been a great contributor to our company’s progress, and has provided valuable insight for our investments,” said Clarke. “I am confident that his extensive career experience in investments will contribute further to the success of our investment operation.

Srinivasan will succeed Andrea Casarotti who will assume the new position of head of Corporate Planning, also reporting to Clarke, subject to Bermuda immigration approval.

Finally, effective Sept. 1, 2018, the company announced that Mary Ann Brown will join the Board as an independent director. Brown retired from her executive management role at Pacific Life Insurance Co. in 2017, where she most recently was chair of Pacific Life Re. Prior to Pacific Life, Brown previously held multiple executive roles at New York Life, MetLife and Swiss Re.

With these changes, the PartnerRe Ltd. board will comprise six directors of which four are independent directors.

Source: PartnerRe

Topics Mergers & Acquisitions