BONACCORSO will be invited to join the PartnerRe Ltd. Board of Directors as a non-voting observer as he would not be deemed an independent director per NYSE listing rules.
Nicolas BURNET will succeed BONACCORSO as Executive Vice President and new CFO, joining PartnerRe on February 3rd, 2020, subject to customary regulatory and immigration approvals.
BURNET joins from the Zurich Insurance Group, where over the past 15 years he has held a number of leadership positions, including Chief Risk Officer and Chief Financial Officer, Global Life, Chief Financial Officer, General Insurance, and most recently Group Head of Planning and Performance Management. Prior to joining Zurich Insurance Group, BURNET worked for Neuberger Berman, an employee-owned investment management firm.
PartnerRe also announced another important appointment. Andrew GIBBS was elected as Executive Vice President and Chief Operations Officer, effective October 14th, 2019. The newly created position will have responsibility over 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.
GIBBS brings more than 30 years' experience in insurance, reinsurance, regulatory compliance and financial services, having held senior positions with the Bermuda Monetary Authority, Validus Holdings Ltd., ACE Group of Companies (now Chubb Group of Companies) and Ernst & Young. He joins PartnerRe Ltd. from Maiden Reinsurance Ltd., where he has held the position of Executive Chairman since January 2019.
BURNET and GIBBS will be located in the Company's Headquarter office in Bermuda.