Gerhardt takes the reins at ACR Capital
John Tan, group chief executive of ACR Capital Holdings, has retired from his executive positions in the company due to medical advice.
Hans-Peter Gerhardt, a member of the company’s board, will assume the role of ACR Group chief executive and chief executive of subsidiary, Asia Capital Re, pending regulatory approvals.
Gerhardt joined ACR as an independent director in 2011. He began his reinsurance career as an underwriter in Hannover Re, Germany. He was also the CEO and founding member of Paris Re (acquired by PartnerRe in 2009), CEO of AXA Re, vice chairman of the board of General Cologne Re and chairman of Faraday and Europa Re.
Tan has been given the newly created role of non-executive founder and senior advisor.
Chairman of the board, Hsieh Fu Hua, said: “In the nine years since ACR was set up in 2006, John has worked tirelessly to build ACR up into a preeminent reinsurance group with an unwavering commitment to serving the needs of our Asian clients.
“He has been committed to institutionalising the group’s infrastructure, policies and practices so that our clients will always enjoy service continuity from ACR. The board wishes to express our deepest appreciation to John for his immense contributions to ACR.”
“I am both excited and humbled by this opportunity to helm ACR. As the group enters its 10th year of operations in 2016, I am reminded of how resilient ACR has been despite the many challenges in its operating environment through the years. Its capitalisation today is in fact not only more robust than before, its portfolio today also comprises much more diversified and better quality risks,” said Gerhardt.
“The decision was not an easy one and was many months in the making. Establishing ACR is the most significant chapter of my reinsurance career so far and has been central to my professional life. It is however time for me to rebalance my priorities and focus on my health and family,” Tan said.
“That ACR is today a significant contributor to Asia’s risk management landscape would not have been possible without the incredible support of our shareholders, board directors, business partners and colleagues. I am immensely proud of ACR’s growth through the years and I’m happy to hand the baton over to Hans-Peter.
“I look forward to working with Hans-Peter in my new capacity as founder and senior advisor to ensure our business partners co ntinue to enjoy the same level of committed service they have grown accustomed to from ACR.”
