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RenaissanceRe Names New CEO

Executive Kevin O'Donnell to replace co-fonder Neill Currie in July.

By Rich Smith – May 16, 2013 at 3:06PM EST

Insurer RenaissanceRe Holdings (RNR 0.32%) has named a new CEO.

On Wednesday after close of trading, RenaissanceRe announced that when Chief Executive Officer Neill Currie retires from the company on July 1, current company President and Global Chief Underwriting Officer Kevin O'Donnell will be promoted and fill his shoes as the company's new CEO. Currie will remain a consultant to the company through February 2014 before retiring. Currie was a co-founder of the company in 1993 and has been CEO since 2005. O'Donnell joined RenaissanceRe in 1996.

Praising his soon-to-be replacement in a press release, Currie expressed "absolute confidence that Kevin and his executive team will continue to build long-term value in RenaissanceRe."

Over the past year, RenaissanceRe shares have underperformed the S&P 500 by more than 10 percentage points -- rising just 17% in a market where "everyone else" seems to have gone up 27%.

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About the Author

Rich Smith
Rich Smith is a contributing Motley Fool defense and stock market analyst covering publicly traded and emerging companies in defense, space, aerospace, and other sectors. Prior to The Motley Fool, Rich practiced international corporate law for Clifford Chance in Russia, and for the Russian-Ukrainian Legal Group in Moscow, Kyiv, and Washington, D.C. He holds a bachelor’s degree in international relations from the College of William & Mary, a law degree from the University of Baltimore, and a language certification from the International Institute of Russian Language & Culture in Tver, Russian Federation. The Globe and Mail once featured him as “one of the best stock pickers since 2009.”
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Stocks Mentioned

RenaissanceRe Stock Quote
RenaissanceRe
NYSE: RNR
$293.24
(-0.32%)-$0.93

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

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