TransRe, the international reinsurance arm of Alleghany Corporation, has actually announced that it is promoting Ken Brandt to President and Chief Executive Officer (CEO), as incumbent Mike Sapnar has announced his intention to leave the company.Sapnar signed up with TransRe in 1995, working as a specialty casualty underwriter, underwriting D&O, E&O and Medical Malpractice.
In between 1998 and 2002, he worked as the Underwriting Manager of TransRes London branch office prior to going back to the US as Chief Underwriting Officer for the reinsurers Domestic Operations.
Sapnar handled the CEO function in 2012 and has assisted the reinsurance business construct its franchise into a leading global gamer.
Sapnar is to leave TransRe at the end of April and is moving on to pursue another chance, according to the business.
In his location, Ken Brandt, a member of the senior leadership group at TransRe given that 2006 and presently TransRes Co-President of Global Underwriting, will prosper Sapnar in the President and Chief Executive Officer functions and will continue to sit on the Board.
As this modification, TransRe has revealed that Paul Bonny, also a Co-President of Global Underwriting, has been named Executive Vice Chairman of TransRe.
” In early 2012, Alleghany had the great fortune to obtain TransRe and over the following 9 years, TransRe produced $849 countless underwriting revenues and a 97.5% combined ratio regardless of a plethora of considerable catastrophes throughout this period. This strong record is due in no small part to the huge contributions from Mike, who is a fantastic leader, a market statesman, and an exceptional manager,” described Weston Hicks, President and Chief Executive Officer of Alleghany Corporation. “Mikes management over the previous years has left TransRe wonderfully positioned for success in the years to come and its culture will forever carry the imprint of Mikes 26 years of service, including over 9 years as CEO. We thank Mike for everything he has provided for TransRe and Alleghany and want him all the best as he turns the page to begin the next chapter of his extraordinary career.”
” Ken is an exceptional leader and a proven reinsurance executive with global experience who understands TransRes unique culture and the requirements of our clients and brokers,” included Joe Brandon, Chairman of TransRe. “Ken has substantial market knowledge, deep underwriting know-how, a thorough understanding of TransRes operations and has played a critical function in assisting establish and execute on TransRes crucial strategic efforts. We are delighted to raise Ken to CEO and everyone at Alleghany eagerly anticipates continuing to work with him and his TransRe coworkers.”
” TransRe has developed an amazing franchise by providing best in class services for insurance providers worldwide,” Brandt likewise said. “Our knowledgeable team brings underwriting discipline, longstanding relationships, local choice making and a steady commitment to our consumers and brokers. I am happy to have become part of TransRe for the past 15 years and look forward to leading the business as we develop on our success.”
Brandt has held the role of Co-President of Global Underwriting and likewise President of the Americas at TransRe, supervising the reinsurance firms U.S, Canada, Bermuda, Latin America and Caribbean teams.
Before signing up with TransRe in 2006, Brandt worked for Employers Reinsurance Corporation (subsequently GE Insurance Solutions) initially as a facultative casualty underwriter in 1993 and subsequently in a number of considerable management positions in the U.S. and Germany before ending up being President of the Americas & & Asia Pacific Division.
Bonny has worked for TransRe since 1982.
Brandt commented, “Ive enjoyed working closely with Paul for several years and quite appearance forward to continuing to do so.”
” In early 2012, Alleghany had the great fortune to obtain TransRe and over the following nine years, TransRe produced $849 million of underwriting profits and a 97.5% combined ratio despite a plethora of substantial catastrophes throughout this duration. “Mikes management over the past decade has actually left TransRe superbly positioned for success in the years to come and its culture will forever bring the imprint of Mikes 26 years of service, consisting of over 9 years as CEO. We are thrilled to raise Ken to CEO and everybody at Alleghany looks forward to continuing to work with him and his TransRe colleagues.”