Miranthis Named CEO For PartnerRe Global Unit

Bermuda-based PartnerRe Ltd. said today it will promote Costas Miranthis to chief executive officer of global non-U.S. operations and the current CEO, Bruno Meyenhofer, will become PartnerRe Global chairman.

PartnerRe Global conducts underwriting operations outside the United States and is comprised of the Global P&C, Global Specialty and Global Catastrophe units as well as the firm's Life Reinsurance unit.

Mr. Miranthis, currently deputy CEO, PartnerRe Global, will take his new post July 1, the reinsurer said. The firm said the post of chairman that Mr. Meyenhofer will assume is a new one for the company.

Both men will report to Patrick Thiele, president and CEO of PartnerRe Ltd.

Mr. Miranthis assumed the role of deputy CEO, Global, last July and has been responsible for the executive management of PartnerRe's Global business units.

Prior to that, Mr. Miranthis served as the group's chief actuarial officer from 2002-2007. With his promotion to CEO, PartnerRe Global, Mr. Miranthis will expand his responsibility to include all Global operations, including finance, accounting and all support functions, PartnerRe said.

Mr. Meyenhofer has been PartnerRe Global CEO and a member of the PartnerRe Executive Committee since 1998, when he joined PartnerRe through the company's acquisition of Winterthur Re.

As chairman, the company said Mr. Meyenhofer will remain a member of PartnerRe's Executive Committee, where he will continue to provide advice and counsel on strategic initiatives as well as corporate and business development for the group.

Mr. Meyenhofer will also oversee Global business development and will represent PartnerRe in the external regulatory and insurance communities.

Mr. Thiele said that “Costas' strong executive skills and operational experience, demonstrated first as chief actuarial officer and reinforced in the past year as deputy CEO, Global, position him well for this role, and I know that Costas will continue to lead the Global operations effectively.

“We are also fortunate to continue to have Bruno's executive guidance, advice and counsel going forward. His excellent leadership skills and dedication to the organization and its people have helped lead PartnerRe to its current position of strength and profitability. Bruno will continue to play an essential role in PartnerRe's future development.”

PartnerRe Ltd. provides multiline reinsurance to insurance companies. As of March 31, the company reported total assets of $17.3 billion, total capital of $5.3 billion and total shareholders' equity of $4.5 billion.