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PartnerRe Names Costas Miranthis as President and COO

Source: PartnerRe

Posted on 13 May 2010

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The Board of Directors of PartnerRe Ltd. announced on Wednesday that Costas Miranthis has been named President and Chief Operating Officer of PartnerRe Ltd., subject to approval by Bermuda immigration. Mr. Miranthis will succeed Patrick Thiele as CEO, effective January 1, 2011.

Mr. Miranthis, 46, is currently CEO, PartnerRe Global, and is a member of the PartnerRe Group Executive Committee. Appointed to his current role in May 2008, Mr. Miranthis is responsible for the executive management of the Company's Life operations, all non-Life reinsurance operations and support functions outside the U.S. In 2007, Mr. Miranthis was appointed Deputy CEO, PartnerRe Global, and was responsible for the management of all Global business units. Mr. Miranthis joined the Company in 2002 as Chief Actuary with responsibility for PartnerRe's Actuarial and IT functions. Prior to joining PartnerRe, Costas spent 16 years with Tillinghast-Towers Perrin in London U.K., most recently as Principal.

Mr. Jean-Paul Montupet, Chairman of the PartnerRe Board, said, "The selection of Costas as Patrick's successor is the result of a long-term succession planning process focused on ensuring PartnerRe's next leader has the experience, skill sets and intellectual capital to lead the Company forward, with the knowledge of the core values and strengths that make PartnerRe successful. We are fortunate to have had strong internal candidates."

Patrick Thiele, current CEO of PartnerRe said, "I fully support the Board's decision to name Costas as my successor, and I am confident that I will leave PartnerRe in good hands when I retire at the end of this year. The fact that we are in the position to appoint PartnerRe's next CEO from within the Company is a testament to the strength and depth of talent at this organization. I know that Costas, with the support of the executive management, will continue to build a well managed company that provides unquestionable security for its clients and an appropriate return for its shareholders."

Mr. Miranthis commented, "I am very happy to accept the Board's offer to succeed Patrick. I have enjoyed working together with Patrick and my executive colleagues to build this company into the reinsurance leader it is today. I look forward to continuing to work with the Board and management team to build on the success we have achieved so far."