Peter Durhager to Step Down as Chief Administrative Officer; CFO Jeff
Kelly to Become Chief Operating Officer
PEMBROKE, Bermuda--(BUSINESS WIRE)--Nov. 13, 2014--
RenaissanceRe Holdings Ltd. (NYSE:RNR) today announced that Peter C.
Durhager has decided to step down as Executive Vice President and Chief
Administrative Officer, and that Jeffrey D. Kelly, the Company’s
Executive Vice President and Chief Financial Officer, will become Chief
Operating Officer while maintaining his current responsibilities as
Chief Financial Officer. These changes are effective on December 31,
Kevin O’Donnell, Chief Executive Officer, said, “Our entire team is
grateful to Peter for all he has accomplished over his more than ten
years at RenaissanceRe. He has continually raised the bar on our
operations functions and systems, which I believe are now key
competitive advantages for our Company. We are pleased that Peter has
agreed to serve in an advisory capacity at RenaissanceRe into the next
year, even as he focuses on his family, his intense involvement in the
economic development of Bermuda, his corporate directorships and other
“Jeff has significantly enhanced our financial and strategic planning
functions since joining us as Chief Financial Officer in 2009, and his
input and insight as a member of our executive team have contributed
meaningfully to our ongoing success. We look forward to his
contributions in his expanded role, as we position RenaissanceRe for
future growth, innovation and success,” Mr. O’Donnell concluded.
As Chief Operating Officer, Mr. Kelly will add to his current
responsibilities oversight of the Company’s Global Shared Services
functions, which includes Human Resources and Organizational
Development, Marketing, Operations, Information Technology and
Prior to joining RenaissanceRe as Executive Vice President and Chief
Financial Officer, Mr. Kelly served as Chief Financial Officer of
National City Corporation, a position he held from 2000 until his
retirement in 2008, and was named Vice Chairman of the Company in 2004.
Mr. Kelly serves as a member of the Board of Directors of The
Progressive Corporation. He earned a Bachelor’s degree in Business
Administration from Ohio State University and a Master’s degree in
Economics from the University of Akron.
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
– Corporate Finance
Kekst and Company
Hill or Dawn Dover, 212-521-4800