Fairfax president Paul Rivett to retire

Fairfax Financial Holdings, the property and casualty re/insurance conglomerate which includes OdysseyRe, Allied World and Brit, has announced that its president Paul Rivett has decided to retire after 17 years at the company.

Rivett will continue as the chair of certain Fairfax investees, including Fairfax Africa and Recipe Unlimited.

Rivett was appointed as the company's president in 2013. Prior to that, he held the positions of vice president, chief legal officer and vice president, operations at Fairfax.

Fairfax CEO Prem Watsa said: “Paul told me recently that for family reasons, he wanted to retire as President of Fairfax. It was with great sadness that I accepted his decision. For 17 years, Paul has given his all and has been instrumental in our success over that time. I have had the pleasure of working very closely with Paul all those years and I will miss him greatly. He retires with our gratitude and best wishes to him, his wife and his children in his retirement. I and other Fairfax executive personnel will be assuming Paul’s responsibilities.”

Rivett commented: “There is no better place to work than Fairfax. Working with Prem and the entire Fairfax family has been a joy, an honour and a privilege. It has been incredible participating in helping grow the company over the years, working with such talented people, and assisting other organizations and individuals along the way. I am so grateful for my time at Fairfax, and I look forward to watching the exciting future of the organization continue to unfold.”