Tad Walker, Marvin Pestcoe to retire from PartnerRe

PartnerRe Ltd., Pembroke, Bermuda, said late Wednesday that Tad Walker, CEO of property/casualty, and Marvin Pestcoe, chief risk and actuarial officer, will both retire from the company at the end of the first quarter of 2018.

External searches are being conducted for Mr. Walker’s and Mr. Pestcoe’s successors, the company said in a statement.

Mr. Walker, who has been with the company for more than 15 years, joined PartnerRe as head of catastrophe in 2002. In June 2016, he assumed executive responsibility for PartnerRe’s property and casualty worldwide business segment.

“Tad has been an important member of PartnerRe’s executive team during a critical period as we transitioned PartnerRe to private ownership and established a new strategy and structure,” Emmanuel Clarke, PartnerRe president and CEO, said in the statement.

Mr. Pestcoe joined PartnerRe in 2001 and retired in 2014 before re-joining the company in 2015 at the time of its acquisition by Exor S.p.A. as interim CEO of life and health, and then extended his commitment in 2016 by assuming the new role of chief risk and actuarial officer.

“I am grateful to Marvin for coming out of retirement 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,” Mr. Clarke said in the statement.