O'Donnell Named CUO In RenRe Reorganization

NU Online News Service, Jan.11, 3:11 p.m. EST

RenaissanceRe Holdings Ltd. announced the retirement of two key executives and the promotion of Kevin J. O'Donnell to executive vice president and global chief underwriting officer.

The firm said Mr. O'Donnell, who had been serving as senior vice president of RenaissanceRe and the company's reinsurance operations, in a consolidation of operations was being given responsibility for RenRe's global reinsurance and insurance underwriting businesses, effective immediately.

The Bermuda-based reinsurer also announced that John D. (Jay) Nichols Jr., who has served as executive vice president of RenaissanceRe since February 2003 and most recently as president of RenaissanceRe Ventures Ltd., and William J. Ashley, president, chief executive officer and chief underwriting officer of the company's insurance operations, have both announced their intention to retire from the company.

Within the Reinsurance segment, Ross Curtis and Jon Paradine, each senior vice presidents having served with the company for over ten years, will be promoted to chief underwriting officer of European Operations and chief underwriting officer of Renaissance Reinsurance Ltd., respectively.

Within the Individual Risk segment, Travis Lewis, chief operating officer of RenRe Insurance, will now report to Mr. O'Donnell.

Mr. Nichols, who will retire when he is eligible to do so on June 30, will commence immediately the transition of his executive vice president responsibilities to Aditya Dutt, senior vice president, the company said.

As head of RenaissanceRe Ventures Ltd., Mr. Dutt will have ongoing responsibilities for Joint Ventures and Venture Capital and will also assume responsibility for RenRe Energy Advisers Ltd. (REAL), which will continue to be led by Mark Tawney. Mr. Dutt will report to Jeffrey D. Kelly, executive vice president and chief financial officer.

Neill A. Currie, CEO of RenaissanceRe, said the reorganization will assure "the underwriting excellence that has been the foundation of RenaissanceRe's success since its inception continues to be applied consistently as we grow our global business."

He said Mr. O'Donnell has built "top-tier underwriting teams in both Bermuda and London. We are confident that the further integration of all of our underwriting businesses under Kevin will lead us to even higher levels of business performance and risk management excellence."