RenaissanceRe has appointed James Gibbons as non-executive chair of its board of directors.
Gibbons has been a member of the board since 2008 and chair of the audit committee since 2013. He will take on the new role following the Bermuda-based firm’s annual general meeting of shareholders in May 2016.
Gibbons is also chairman of Harbour International Trust Company and is the treasurer of Edmund Gibbons. He further serves as a senior adviser and director of Clarien Group.
Ralph Levy, who has been a member of the board since 2007 and non-executive chair since 2011, will transition the role to Gibbons, and will continue to serve as a director of the company, subject to his re-election at the 2016 annual meeting.
"Ralph has played a central role in RenaissanceRe's development during his five year tenure as non-executive chair,” said Kevin O'Donnell, chief executive officer, RenaissanceRe.
“My management team, fellow directors and I are thankful for his service and valuable advice. We appreciate that he will be continuing to serve on the board in order to ensure a smooth transition.”
"We are pleased to welcome James to the new role of non-executive chair. He brings a breadth of skills and experiences in our industry and has a proven track record of building and leading businesses. He will be an instrumental partner in overseeing our strategy and pursuit of profitable growth."
Levy added: "It has been a privilege to have served as the non-executive chair of RenaissanceRe over the past five years. The company has achieved significant strategic milestones over that time and is well-positioned for the challenges of the current market, and those of the future.
“Our succession process was robust and the entire board joins me in congratulating James on his appointment. We are sure that James is the right person to chair RenaissanceRe for the next phase of our development."
RenaissanceRe, James Gibbons, Ralph Levy, Bermuda