PartnerRe CFO retiring, successor named

PartnerRe Ltd. has named Nicolas Burnet to succeed Mario Bonaccorso, executive vice president and chief financial officer, who will retire from the company on March 31, the reinsurer said in a statement Friday.

Mr. Burnet will join PartnerRe on Feb. 3, the statement said.

He joins the reinsurer from the Zurich Insurance Group, where he was most recently chief risk officer and chief financial officer.

Mr. Bonaccorso, who is leaving to pursue an entrepreneurial venture with financial support from PartnerRe owner and Turin, Italy-based Exor S.p.A, will be invited to join the PartnerRe board of directors as a non-voting observer, the statement said.

“Nick brings deep experience in risk, capital, and finance functions in both the Life and Non-Life businesses that will benefit us as we continue to grow as a composite reinsurance company,” PartnerRe President and CEO Emmanuel Clarke said in the statement.

Additionally, Andrew Gibbs was named to the newly created role of executive vice president and chief operations officer, effective Oct. 14, with responsibility for the company’s end-to-end underwriting processes, including underwriting support, reinsurance accounting, claims, payments and collections, as well as its legal, compliance and internal audit services, the statement said.

He joins from Maiden Reinsurance Ltd., where he most recently was executive chairman, the statement said.

Mr. Burnet and Mr. Gibbs will be based at the company’s Bermuda headquarters, the statement said.