Emmanuel Clarke, CEO of PartnerRe
Emmanuel Clarke, chief executive officer of PartnerRe, explains to Intelligent Insurer how he is building on the stability achieved through private ownership by Exor to create secure, long-term partnerships with cedants.
It has been two years since PartnerRe signed the agreement that led to its acquisition by Italian investment company Exor for $6.9 billion. The deal, which took another six months to be fully ratified, ended a prolonged battle for the reinsurer, which had previously been set to merge with Axis Capital.
Such wrangling and periods of uncertainty are not good for staff morale or for staff and client retention. CEO Emmanuel Clarke is the first to admit it was an uncertain time for the company.
“There were some 14 months of uncertainty in all but we responded by focusing on taking care of clients,” he says. “The stability of private ownership has been very much welcomed by clients and employees. It is now a question of how we use that to our competitive advantage.”
PartnerRe, Exor, M&A, Emmanuel Clarke, Insurance, Reinsurance, Life&Health, P&C