TransRe announces leadership changes as Sapnar leaves

Mike Sapnar (left) and Kenneth Brandt

Mike Sapnar is stepping down as president and CEO of Transatlantic Holdings Inc. and will be replaced by Kenneth Brandt, co-president of global underwriting, the reinsurer said in a statement Monday.

Mr. Sapnar, who has headed the reinsurer since 2012, is leaving “to pursue another opportunity” and will remain with New York-based TransRe until April 30, the statement said.

Mr. Brandt joined the reinsurer in 2006 and has held various executive positions.

In addition, Paul Bonny, co-president of global underwriting at TransRe, was named executive vice chairman of the company.

Earlier this month, parent company Alleghany Corp. announced a leadership change.