Partner Re restructures its business lines

PartnerRe, the Bermuda-based reinsurer, has reorganised the structure of the company with the aim of better aligning its expertise with the needs of its client base.

PartnerRe has restructured its business units, which have been consolidated into three important worldwide business segments: property and casualty, specialty lines, and life and health.

The property and casualty segment will be led by Tad Walker, and will provide holistic access to property and casualty risks, including property catastrophe and facultative through five regional units: North America; Europe; Asia; Latin America; and Middle East, Africa and Russia.

The specialty lines segment, led by Charles Goldie, will leverage PartnerRe’s technical expertise on a worldwide basis through a centralised specialty unit offering specialty lines treaty and facultative solutions.

The life and health segment, which continues to be led by Marvin Pestcoe, will operate as a worldwide specialist unit, taking an integrated approach to client needs.

“As part of a process to review how to best serve our clients and brokers, we have taken the time to listen to what they need and the demands they face,” said Emmanuel Clarke, president and chief executive officer of PartnerRe. “As a result, we have implemented changes to our structure to make it easier for our partners to do business with us.”

Clarke added: “With a highly diversified product offering of non-life and life reinsurance worldwide and solid financial strength, PartnerRe is already well positioned to meet our clients’ evolving reinsurance needs.

“Over time, our clients will also experience PartnerRe as an organisation that lives up to its name - able to build meaningful partnerships that help our clients address their risk needs and grow their business.”