Leaders Named for GE ERC Global P&C Business OVERLAND PARK, Kan.--(BUSINESS WIRE)--March 21, 2002--A diverse, experienced team has been selected to lead the newly formed Global Property & Casualty Reinsurance unit at GE's Employers Reinsurance (GE ERC) (NYSE: GE).
The Global P&C business unit includes direct reinsurer Employers Reinsurance Corporation and broker market reinsurer GE Reinsurance Corporation in the Americas and the GE Frankona Re Group in Europe and Asia. The unit's 1,000 employees serve more than 2,200 primary insurance company customers from 34 offices in 24 countries. Net written premiums for 2001 were $4.0 billion.
Rick Smith, President & CEO of Global P&C Re, announced the appointments today, pending appropriate regulatory approvals:
-- Samira Barakat has been named Global Property Leader with responsibility for underwriting and product development.
Barakat previously served for three years as Global Risk Leader for ERC, and has seven years of experience with GE Capital. Barakat is based in Kansas City, but will be relocating to London.
-- Ken Brandt will continue to lead ERC's direct market treaty reinsurance operations in the Americas. He will also assume responsibility for Latin American reinsurance operations. Herb Colon, Latin American reinsurance leader, will report to Brandt. Brandt has 14 years underwriting leadership experience and is based in San Francisco.
-- Eamon Brown has been named to head GE Frankona Re's London Market client group. Brown has worked in the insurance industry for 29 years and has seven years of experience with GE Frankona Re. He is based in London.
-- Tim Carroll will lead GE Reinsurance, the North American broker market reinsurer based in suburban Chicago. For the past seven years, Carroll has led GE Frankona Re's London Market operations. Carroll is currently President of the Insurance Institute of London, and former Chairman of the International Underwriting Association. Carroll will relocate from London to the Chicago area.
-- Robbie Klaus has been named Global Specialty Leader with responsibility for a global client and product group that includes products such as aviation, space and whole-account. Klaus has spent seven years with GE. He has 16 years of insurance experience, and is based in Munich.
-- Gerald Konig will remain head of the Munich Customer Team, which serves clients in Germany, Austria, Switzerland, Israel and other Central European countries. Konig has held a series of underwriting and account management roles with GE Frankona Re during the past seven years, and has 22 years of experience in the insurance industry. Konig is based in Munich.
-- Karl Mayr has been named Chairman of the board of management of GE Frankona Ruckversicherungs AG and head of the Munich operation. With his 22 years of reinsurance experience Mayr will support Rick Smith in setting the strategic direction of the company and manage selected large customer relationships.
He has been with GE for seven years, most recently as Chief Underwriting Officer for GE Frankona Re. He will continue to be based in Munich.
-- Mike Moncada will lead North America's Facultative Casualty reinsurance. Moncada previously served as chief underwriting officer for the company's P&C Americas business and has led underwriting teams at American Re, Aetna and Frankona Re during his 20 year career. Moncada is based in Kansas City.
-- Bill O'Donnell has been named to lead the global accounts team, a new role for the business. He will coordinate Global P&C Re's services and product offerings to large, global primary insurers. O'Donnell has 25 years in insurance and 17 years of GE experience, most recently as Senior Vice President and P&C Re Division Leader of North America.
-- Jean-Philippe Ravanel will continue to lead the European Branch Offices team for GE Frankona Re, which serves clients in France, Denmark, Spain, Italy, and the Middle East. Ravanel has five years of experience with GE, the past year with GE Frankona Re. Ravanel is based in Paris.
-- Mark Ricciardelli will be the Global Casualty Leader with oversight of underwriting and product development for liability products. Ricciardelli previously served as North American Facultative business leader for GE ERC, has led the company's Asia Pacific operations and has more than 25 years of industry experience. Ricciardelli is based in Hartford, Conn.
-- Grant Robson, Asia Pacific leader, will continue to lead customer teams in Australia, Japan, Singapore, Malaysia, Korea, China and the rest of the Far East. He has spent six years with GE ERC and over 29 years in the insurance industry.
Robson is based in Brisbane.
Smith also named nine key leaders for functional Centers of Excellence for Global P&C Re:
-- Adriaan Boon van Ostade will be Six Sigma Quality Leader for Global P&C Re. He previously was Six Sigma Leader for the Europe Asia team and has held other Six Sigma leadership roles with GE Appliances in Europe. He holds the Master Black Belt designation. Boon van Ostade has 16 years with GE, and three months with ERC. Boon van Ostade is based in Munich.
-- Tony Hill has been named Chief Pricing Actuary. Hill has a broad background in both reserving and pricing and most recently served as ERC's chief reserving actuary. Hill is a member of the Fellow Casualty Actuarial Society and the American Academy of Actuaries. Hill has been with GE for seven years. He is based in Kansas City.
-- Darren Huxol has been named Marketing Leader, expanding his previous role of marketing leader for P&C Americas. Huxol has experience in risk management and finance. He has over 30 years of industry experience, and has spent the past four with GE ERC. He is based in Kansas City.
-- Jonathan Isherwood has been named Risk & Underwriting Leader. He has been with GE for eight years in a variety of roles including the Corporate Audit Staff and two years as Risk Manager for GE Frankona Re in Europe and Asia. He is based in Munich.
-- Jeanne Mason has been named Human Resources Leader. She previously was human resources leader for GE Frankona Re in Europe and Asia. Mason has spent 13 years with GE and has one year insurance experience. She is based in Munich.
-- Randy Nordquist will lead the claims team. He previously was the P&C Re Americas Claims Leader. He holds a Black Belt in GE's Six Sigma Quality program. Nordquist has 25 years of experience in the insurance industry, and 12 years with GE ERC. Nordquist is based in Kansas City.
-- Jason Richards will serve as Billing & Collections/Technical Accounting Leader for the global team. He has held an array of leadership roles in operations for GE Frankona Re and has earned the Six Sigma Black Belt designation. Richards has spent 11 years with GE, and has ten years of insurance experience. He is based in Copenhagen.
-- Trevor Schauenberg will be Chief Financial Officer for the business unit. He previously was CFO for GE Frankona Re in Europe and Asia. Schauenberg has spent 11 years with GE. He is based in Munich.
-- Reinald Schulz will serve as Chief Reserving Actuary, expanding on his previous role of leading the reserving actuarial team for GE Frankona Re in Europe and Asia. Schulz was Chief Actuary with Gerling Insurance in Cologne, Germany, and Chief Actuary Europe with GE Frankona Re. Schulz has three years of experience with GE and 16 years in insurance. He is based in Munich.
With the new alignment, GE ERC now has three operating units: Global P&C Re, Global Life & Health and Commercial Insurance. GE Employers Reinsurance Corporation, a GE company (NYSE: GE), is the world's fourth largest reinsurer. The top financial security rating companies reaffirm ERC's strength and stability with the highest ratings in the industry: AAA from Standard & Poor's, A++ from A.M. Best Company and Aaa from Moody's. More information on ERC is available at http://www.ercgroup.com.
GE (NYSE:GE) is a diversified technology, services and manufacturing company with a commitment to achieving customer success. GE operates in more than 100 countries and employs approximately 310,000 people worldwide.
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