PartnerRe
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The segment’s underwriting results halved to $532mn in 2024 from $1.07bn in the prior year. -
The executive has worked in a variety of senior underwriting roles at the reinsurer.
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The executive will replace retiree Michael Miller.
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The executive has also served as agriculture reinsurance VP at Navigators.
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The results were impacted by cat events and reserve strengthening in US casualty.
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Markel executive Alan Rodrigues will lead the unit.
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Richard Chu joins from PartnerRe, where he was head of financial risks for Asia Pacific.
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The reinsurer experienced a “notable decrease” of catastrophe losses last year.
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The company has improved performance and brought in new top management – but its direction under Covéa remains to be seen.
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Jon Colello will become president in the management shake-up.
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Benjamin Weber is set to retire in early 2024 after 25 years at the carrier.
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The company said the NEP expansion reflected 6% growth in P&C, 7% in specialty lines and 21% in L&H.
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