PEMBROKE, Bermuda--(BUSINESS WIRE)--Feb. 23, 2015--
RenaissanceRe Holdings Ltd. (NYSE:RNR) announced today that W. James
(“Jim”) MacGinnitie, 76, who has served as a member of the Board since
2000, will retire as a Director, and that William F. (“Bill”) Hagerty
IV, 55, will join the Board, each to occur in conjunction with the
Company’s Annual General Meeting of Shareholders in May 2015. Mr.
Hagerty’s election is subject to the approval of the Company’s
shareholders at the Annual Meeting. Mr. Hagerty served as Tennessee’s
Commissioner of Economic and Community Development and as a member of
the Governor’s Cabinet until retiring from these positions in January
2015 to rejoin Hagerty, Peterson & Company, LLC, a private equity
investment firm at which he had previously served as a Founder and
Managing Director since 1996.
Kevin J. O’Donnell, Chief Executive Officer, said, “It is a fitting time
in RenaissanceRe’s strategic evolution to celebrate Jim MacGinnitie’s
invaluable service to our company. As past non-Executive Chair of our
Board of Directors and throughout his tenure on our board, Jim has been
a valued adviser on key industry and business issues. Jim has my thanks
and appreciation and that of my entire management team. Bill brings to
our Board extensive experience drawn from both a distinguished career in
public service and as a successful financial and business executive. We
look forward to drawing on his judgment and expertise as we continue to
move our business forward.”
Ralph B. Levy, non-Executive Chairman of RenaissanceRe added, “Our
entire Board and management are deeply appreciative of the central role
Jim has played in RenaissanceRe’s development and success over more than
half of our Company’s history, including during his critical service as
our first non-Executive Chair. We are pleased to welcome Bill, whose
knowledge of and success in both the public and private sector will
bring fresh perspective to the Board’s oversight of this fine
organization at a time of accelerating industry change.”
Mr. Hagerty began his term as Tennessee Commissioner of Economic and
Community Development in January 2011. In addition to his leadership of
Hagerty Peterson, from 1996 to January 2011, he also served as the Vice
Chairman of National Electronics Warranty Corporation (now NEW Asurion
Corporation), an administrator of warranty programs based in Sterling,
Virginia. Prior to the time Hagerty Petersen was founded, Mr. Hagerty
was affiliated with Trident Capital, L.P., a private equity investment
firm based in Chicago, Illinois. From 1991 to 1993, Mr. Hagerty served
as a member of the White House Staff, including in the position of Chief
Economist for the President's Council on Competitiveness.
He began his career with the Boston Consulting Group, ultimately serving
as the senior expatriate in its Tokyo office with responsibility for the
firm's international activities in Japan.
Mr. Hagerty has also served on a number of public and private boards of
directors, including Sound Advice Inc. (NASDAQ:SUND) from February 1998
through its acquisition in June 2001; Houghton Mifflin Harcourt Inc.
(NASDAQ:HMHC) from May 2010 until through June 2012; and since December
2010 with R.J. O’Brien Inc., an independent futures brokerage and
clearing firm (privately held).
RenaissanceRe Holdings Ltd. is a global provider of reinsurance and
insurance. The Company’s business consists of three reportable segments:
(1) Catastrophe Reinsurance, which includes catastrophe reinsurance and
certain property catastrophe joint ventures managed by the Company’s
ventures unit; (2) Specialty Reinsurance, which includes specialty
reinsurance and certain specialty joint ventures managed by the
Company’s ventures unit; and (3) Lloyd’s, which includes reinsurance and
insurance business written through RenaissanceRe Syndicate 1458.
Source: RenaissanceRe Holdings Ltd.
RenaissanceRe Holdings Ltd.
Rohan Pai, 441-295-4513
of Investor Relations
Kekst and Company
Hill or Dawn Dover, 212-521-4800