Global insurance and reinsurance firm Everest Re has announced some changes in the leadership of the firms collateralized reinsurance, sidecar-like investment vehicle, Mt. Logan Re Ltd., with David Whiting promoted to President as CEO Rick Pagnani is set to leave the firm.
Rick Pagnani has been instrumental in the set-up and successful growth of the Mt. Logan Re vehicle, which now has around $1 billion of assets under managment, as well as Everest Re’s activities in managing third-party investor capital, acting as the Chief Executive Officer of Mt. Logan Re for the last five years since its inception.
Pagnani is now set to leave the company, destination currently unknown.
As a result, David Whiting, the Chief Underwriting Officer of Mt. Logan Re since its creation and launch in 2013, has been promoted to President and Chief Underwriting Officer of the company.
Pagnani will be working closely with the promoted Whiting to ensure a smooth handover and continuity for the Mt. Logan Re investor base, the company said.
A statement from Everest Re said, “Rick will be assisting David over the next several months to ensure a seamless transition of responsibilities and continuity for Mt. Logan’s investors.
“We would like to thank Rick for his many contributions as the founder of Logan in his efforts in building Mt. Logan, helping develop a strong value proposition for Logan investors and achieving a best in class track record of returns since 2013. We wish Rick success in his future endeavors.”
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