Sompo plucks PartnerRe CFO; top leader exits after 20 years
Bermuda-based specialty re/insurer Sompo International has hired the chief financial officer (CFO) of PartnerRe following the departure of Michael McGuire after 20 years.
Nicolas Burnet (pictured) joins as new CFO and part of the executive team and will be based in Boston, Massachusetts, reporting to James Shea, CEO of Sompo International.
Burnet joins from Partner Re, where he most recently served as CFO. Before that, he spent nearly 16 years with Zurich Insurance Group in various leadership positions, including group head of planning and performance management, CFO for general insurance and global life CFO. He began his career in financial services with various companies, including Neuberger Berman, JP Morgan and Price Waterhouse.
At Sompo, he takes over from McGuire, who, after 20 years with Sompo International, formerly Endurance Specialty, has decided to step down from the role.
“I am very pleased to welcome Nick to Sompo,” said Shea. “With his considerable expertise and strong background from multiple financial positions overseeing both P&C and Life business on a global basis, Nick will play a key part in driving our ambitious growth plans and shaping the future of our company. He is a well-known and dedicated leader in the insurance industry who will make an immediate impact.”
“I’m thrilled to join Sompo International at such an important time in the organisation’s growth journey,” said Burnet. “I’m looking forward to building on its record of exceptional delivery in close collaboration with the leadership team and colleagues globally.”
Shea thanked McGuire for his exceptional contributions on various strategic initiatives. He said: “It has been a great pleasure working with Mike since I joined Sompo in 2021 and I’ve seen up close his dedication and passion to lead with our core values and put our people, clients and trading partners at the center of everything we do. Mike has been integral to the growth of our organisation and has played a key role in bringing us to where we are today.”
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