PartnerRe
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The Bermuda reinsurer has been active in ILS since launching in 2007. -
Benjamin Baltesar spent more than six years at Euler ILS.
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He replaces Andrew Hughes, who held the role since 2021.
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Theokli joined the company in 2021 as a senior underwriter.
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The carrier’s non-life combined ratio improved by 5 points to 81.6%.
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Jon Colello will become president in the management shake-up.
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Most forecasters predict below-average activity in the region – but opposing weather phenomena mean uncertainty is higher than usual.
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The ratings agency said PartnerRe would act as a ‘natural diversifier’ to Covéa’s operations.
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The company was recently licensed to expand into non-life insurance lines and now plans to expand into direct P&C insurance business in the US through partnerships with MGAs.
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The appointments to the board begin with immediate effect.
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Overall, the carrier posted $408mn of cat and man-made losses in Q3, up from $333mn a year earlier, of which $297mn related to Hurricane Ida and the European floods.
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She will succeed CFO and EVP Nick Burnet, who will be leaving the company to pursue other opportunities.
