PartnerRe adds Exor CFO to board as Elkann steps aside

Bermuda-based reinsurer PartnerRe has appointed Enrico Vellano as Exor's representative on its board of directors, succeeding John Elkann.

Vellano is the chief financial officer (CFO) of Exor, the owner of PartnerRe. He started his career in 1997 at IFIL, the investment company controlled by the Agnelli Family and since that time, has held increasingly senior positions until he was named CFO in 2006.

PartnerRe's board comprises five directors of which three are fully independent from the company.

Elkann, chairman and chief executive of Exor, said: “It has been my privilege to serve on the Board of PartnerRe Ltd. for the past 5 years. Under the leadership of Brian Dowd as Chairman and Jacques Bonneau as President and CEO, PartnerRe is in excellent shape for the next phase of its development: the recent appointments both at the Board level and in the management team have strengthened the Company, which now boasts a very deep pool of experience, insight and talent.

“Enrico Vellano has been closely involved in all aspects of our investment in PartnerRe since the very beginning and I’m delighted that he is succeeding me on the Board in a further signal of our long-term commitment to the Company and its independent strategy.”

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.