8 November 2017Insurance

PartnerRe hires The Hartford chief insurance risk officer

Bermuda-based PartnerRe has appointed Turab Hussain to the position of chief risk and actuarial officer.

As a member of PartnerRe’s executive management team, Hussain will have executive responsibility for risk management, capital modelling and reserving, and will be based in PartnerRe’s Stamford office.

Hussain has more than 20 years of re/insurance experience. He will join PartnerRe from The Hartford Financial Services Group, where he has served as chief insurance risk officer since 2014. Previously, Hussain has held several senior actuarial and underwriting roles with responsibility for reserving, risk assessment, capital allocation and analysis at The Hartford as well as Arch Insurance Group and American Reinsurance.

Hussain succeeds Marvin Pestcoe who will retire in 2018. Pestcoe first joined PartnerRe in 2001 and held several executive positions with the company, including, CEO life and health, chief investment officer, and head of strategic ventures, before retiring in 2014. In 2015, Pestcoe rejoined PartnerRe at the time of the EXOR acquisition, to resume his role as CEO of life and health, and extended his commitment in 2016 by assuming the new role of chief risk and actuarial officer.

PartnerRe’s president and CEO Emmanuel Clarke, said: "I am delighted to welcome a risk and actuarial professional with Turab’s technical background and experience to PartnerRe. This position represents functions that play an important role in both our business and strategic decision-making. Turab’s experience in leading teams of actuaries and risk professionals as well as multi-disciplinary teams across segments and business lines, make him an excellent fit for this role."

Clarke added: "I am grateful to Marvin for returning to the Company, first to transition leadership of our Life and Health operations to Marc Archambault and then to establish the role of Chief Risk and Actuarial Officer. Since Marvin first assumed the leadership of Life & Health in 2011, we have significantly expanded our offering to clients, most recently with the acquisition of Aurigen Re in North America. As Chief Risk and Actuarial Officer, Marvin has also strengthened our risk, capital and reserving teams and processes, ensuring they are well positioned for a new executive leader to build upon."

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