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FEATURE: Thiele earns right to be irresponsible
01 September 2010
Patrick Thiele is leaving PartnerRe after 10 years. He leaves his successor, Costas Miranthis, a much different firm to the one he inherited.
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PartnerRe
Patrick Thiele
Costas Miranthis
Patrick Thiele is leaving PartnerRe after 10 years. He leaves his successor, Costas Miranthis, a much different firm to the one he inherited.
After a decade of relative stability, give or take a hurricane here or there, PartnerRe suddenly finds itself facing uncertainty. Its chief executive officer, Patrick Thiele, is leaving at the end of the year and – if he is to be believed – will never be seen in the reinsurance industry again.
Thiele says 10 years is enough for any one man to lead a firm and promises he is getting out of the reinsurance business completely. In those 10 years he has overseen PartnerRe’s rise into a top five reinsurer globally.
“Overall Thiele has done a tremendous job,” says Douglas Mewhirter, equity analyst following PartnerRe for RBC Capital Markets. “He put out some pretty straightforward principles, didn’t mince words, grew book value at 10% a year, with...
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