PartnerRe Ltd.'s board of directors announced today that Costas Miranthis has been named president and COO, subject to approval by Bermuda immigration. Miranthis will succeed Patrick Thiele as CEO, effective Jan. 1, 2011. PartnerRe previously announced Thiele's decision to retire, effective Dec. 31, 2010. Miranthis will maintain his current responsibilities until a successor is announced.
Miranthis is currently CEO of PartnerRe Global, and is a member of the PartnerRe Group Executive Committee. Appointed to his current role in May 2008, he is responsible for the executive management of the company's life operations, all non-life reinsurance operations and support functions outside the United States. In 2007, Miranthis was appointed deputy CEO, PartnerRe Global, and was responsible for the management of all global business units. He originally joined the company in 2002 as chief actuary, with responsibility for PartnerRe's actuarial and IT functions. Prior to joining PartnerRe, Miranthis spent 16 years with Tillinghast-Towers Perrin in London, most recently as principal.
"The selection of Costas as Patrick's successor is the result of a long-term succession planning process focused on ensuring PartnerRe's next leader has the experience, skill sets and intellectual capital to lead the company forward, with the knowledge of the core values and strengths that make PartnerRe successful," said Jean-Paul Montupet, chairman of the PartnerRe board. "We are fortunate to have had strong internal candidates.
"I am very happy to accept the Board's offer to succeed Patrick," said Miranthis. "I have enjoyed working together with Patrick and my executive colleagues to build this company into the reinsurance leader it is today. I look forward to continuing to work with the Board and management team to build on the success we have achieved so far."
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