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Mario Bonaccorso appointed CFO; Bill Babcock to step down
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Charles Goldie, CEO Global and Marvin Pestcoe, CEO Life, Health and
Strategic Ventures to join PartnerRe’s executive management team
PartnerRe Ltd. (NYSE:PRE) today announced that Mario Bonaccorso,
formerly Managing Director at EXOR SpA, has been appointed Chief
Financial Officer, subject to Bermuda Immigration approval.
Bill Babcock, who has served as Executive Vice President and Chief
Financial Officer at PartnerRe since October 2010, will leave the
Company to pursue other opportunities.
Mr. Bonaccorso has resigned from his position as Managing Director at
EXOR and from the PartnerRe Board, and will immediately assume
responsibility for all of PartnerRe’s financial operations and
investments, reporting to PartnerRe’s President and CEO, Emmanuel
Clarke. With his appointment, Mr. Bonaccorso joins PartnerRe’s executive
management team and will be based at the Company’s main offices in
Bermuda. In order to ensure a smooth transition, Mr. Babcock will remain
as Executive Vice President through the summer to support Mr. Bonaccorso
during the transition period.
In addition to this change, Charles Goldie, CEO PartnerRe Global, and
Marvin Pestcoe, CEO Life, Health and Strategic Ventures, have been
appointed to PartnerRe’s executive management team. Other executive
managers, Tad Walker, President and CEO PartnerRe North America, and
Laurie Desmet, Executive Vice President and Chief Operations Officer,
will continue in their current roles.
Commenting on today’s announcement Mr. Clarke said, “I would like to
welcome Mario to PartnerRe. His financial acumen and broad experience in
managing EXOR’s portfolio of companies will be extremely valuable. The
additions of Mario, Charlie and Marvin to the Executive Committee
further strengthen our leadership team, bringing new skills, deep
experience and a fresh outlook as we seek to take PartnerRe to the next
level.”
Mr. Clarke added, “At the same time, we are sorry to see Bill go. He has
been a highly valuable CFO and member of our executive team, having
successfully led a number of strategic initiatives during his tenure at
PartnerRe. We will miss his deep knowledge of the industry, his sound
judgement and his unflagging energy. We thank him for his considerable
contribution to PartnerRe and we wish him the very best in his future
endeavors.”
Mr. Bonaccorso was appointed Managing Director of EXOR in October 2007
where he was responsible for investments and for the management of
EXOR’s portfolio of companies. During that time he served on behalf of
EXOR on the boards of directors of Cushman & Wakefield, Banijay Holding
and Banca Leonardo. He has a Master of Science cum laude in
Telecommunications Engineering at Politecnico di Torino University and
an MBA with honors from INSEAD. For Mr. Bonaccorso’s biography, visit
PartnerRe’s website at: www.partnerre.com/about/our-people/mario-bonaccorso.
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PartnerRe Ltd. is a leading global reinsurer, providing multi-line
reinsurance to insurance companies. The Company, through its wholly
owned subsidiaries, also offers capital markets products that include
weather and credit protection to financial, industrial and service
companies. Risks reinsured include property, casualty, motor,
agriculture, aviation/space, catastrophe, credit/surety, engineering,
energy, marine, specialty property, specialty casualty, multi-line and
other lines in its Non-life operations, mortality, longevity and
accident and health in its Life and Health operations, and alternative
risk products. For the year ended December 31, 2015, total revenues were
$5.4 billion. At December 31, 2015, total assets were $21.4 billion,
total capital was $7.7 billion and total shareholders’ equity
attributable to PartnerRe was $6.9 billion.
PartnerRe on the Internet: www.partnerre.com
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