Turab Hussain has been appointed to the position of chief risk and actuarial officer at PartnerRe, starting from December 4, 2017. He succeeds Marvin Pestcoe, who will retire in 2018 after working to ensure a smooth transition.
According to the company, Hussain will have executive responsibility for risk management, capital modeling and reserving. He will be based in PartnerRe’s Stamford office.
“I am delighted to welcome a risk and actuarial professional with Turab’s technical background and experience to PartnerRe,” said Emmanuel Clarke, president and CEO of PartnerRe. “This position represents functions that play an important role in both our business and strategic decision-making. Turab’s experience in leading teams of actuaries and risk professionals as well as multi-disciplinary teams across segments and business lines, make him an excellent fit for this role.”
Hussain has more than 20 years of experience in the insurance and reinsurance industries. He was previously at The Hartford Financial Services Group, where he has served as chief insurance risk officer since 2014. Hussain has previously held several senior actuarial and underwriting roles with responsibility for reserving, risk assessment, capital allocation and analysis at The Hartford as well as Arch Insurance Group and American Reinsurance.
Pestcoe first joined PartnerRe in 2001 and held several executive positions with the company, including, CEO life & health, chief investment officer, and head of strategic ventures, before retiring in 2014. In 2015, Pestcoe rejoined PartnerRe at the time of the EXOR acquisition, to resume his role as CEO of life and health, and extended his commitment in 2016 by assuming the new role of chief risk and actuarial officer.
“I am grateful to Marvin for returning to the company, first to transition leadership of our life and health operations to Marc Archambault and then to establish the role of chief risk and actuarial officer,” said Clarke. “Since Marvin first assumed the leadership of Life & Health in 2011, we have significantly expanded our offering to clients, most recently with the acquisition of Aurigen Re in North America. As chief risk and actuarial officer, Marvin has also strengthened our risk, capital and reserving teams and processes, ensuring they are well positioned for a new executive leader to build upon.”
PartnerRe, Appointment, Turab Hussain, Insurance risk, Bermuda