24 March 2023Insurance

Former Munich Re reinsurance CEO to join RenRe’s management board

Bermuda-based reinsurer  RenaissanceRe has nominated the former Munich Re reinsurance CEO to stand for election as an independent director following the retirement of Anthony (Tony) Santomero.

Torsten Jeworrek will be nominated at the company's annual general meeting of shareholders in May 2023. He has decades of global reinsurance leadership experience.

RenRe believes as a former member of the board of management and the CEO reinsurance of Munich Reinsurance AG, Torsten will bring a global perspective, and wealth of risk understanding and reinsurance experience to its board. He stepped down from Munich Re’s board of management at the end of 2022.

“We believe that the diverse skills, viewpoints, experience, knowledge, and abilities of our directors have helped us successfully execute our strategy as we have expanded globally. As the Board evolves, we continue to look for ways to build on these perspectives and experiences,” management said in a filing to investors.

In May this year, Santomero will retire from RenRe Board at the end of his term. “On behalf of the management team, I would like to thank Tony for his 15 years of distinguished service to RenaissanceRe, in particular in his role as the Chair of the Investment and Risk Management Committee. Tony brought deep financial acumen to the Board, with a broad academic, macroeconomic and banking perspective,” said Kevin O’Donnell, president and chief executive officer of RenRe.

Other changes following the company’s annual meeting will see David Bushnell (if elected) step down from the Audit Committee, and be appointed to the Governance and Human Capital Committee and the Investment and Risk Management Committee.

Jeworrek (if elected) will be appointed to the Investment and Risk Management Committee.

Shyam Gidumal will step down from the Corporate Governance and Human Capital Management Committee and be appointed to the Audit Committee.

RenaissanceRe will celebrate its 30th anniversary in 2023. Established in 1993 and headquartered in Bermuda, the company now has offices in Australia, Ireland, Singapore, Switzerland, the UK and the US.

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