PartnerRe has named Chris Shanahan (pictured above) as the new CEO of its life and health division, effective Jan. 1.
Shanahan will succeed Marc Archambault, who is retiring after serving in the role. Shanahan will also join the company’s executive leadership team.
Shanahan has been with PartnerRe for more than six years, holding several leadership roles within the company. He currently serves as CEO of North America life, a position he has held since 2021. Prior to that, he was president of US life operations and executive vice president of life corporate development.
His career spans over three decades in the reinsurance and insurance industries, including leadership roles at Hannover Re, Scottish Re, and Lincoln Financial Group. He holds a degree in actuarial science from Drake University.
PartnerRe CEO Philippe Meyenhofer highlighted Shanahan’s qualifications, citing his expertise across the industry as a key attribute.
"Chris' deep technical expertise, industry knowledge, and collaborative leadership style make him a valuable addition to our leadership team," Meyenhofer said.
Meyenhofer also acknowledged the contributions of Archambault, crediting him with building a strong foundation for the life and health division.
"I would like to personally acknowledge and thank Marc for his invaluable contributions and the strong foundation he leaves behind, positioning us well for future growth and as a preferred reinsurance partner to our clients," Meyenhofer said.
Earlier this year, the reinsurer reported its financial results for the first half of 2024, showing significant activity across its segments.
The company recorded gross premiums written of US$5.3 billion and a net income attributable to the company of US$358 million. Operating income stood at US$366 million, translating to an operating income return on equity of 8.9%.
The company's performance in the first half was influenced by a higher frequency of mid-sized natural catastrophe events and reserve strengthening in US casualty lines. Nonetheless, the non-life business managed a positive underwriting result.
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