RenaissanceRe Extends Contract with CEO
Thursday, Mar 05,2009, 3:57:04 PM Click:
RenaissanceRe Extends Contract with CEO Meg Green
RenaissanceRe Holdings Ltd has blocked President, CEO and Director Neill A. Currie for a longer contract.
The extended enterprise Currie contact, which was to expire on 22 February 2010 until 22 February 2014.
When Currie prior to employment expired in 2010, he was subject to automatic renewals for a term of one year. Currie, co-founder of RenaissanceRe (NYSE: RNR), served as CEO since November 2005. Currie will also continue to serve on the company board of directors.
"This long-term agreement ensures continuity of management of RenaissanceRe least one person who has placed our business for the long-term success," W. MacGinnitie James, president, said in a written statement.
Currie became CEO in 2005, when then-President and CEO James N. Stanard has left the company was under investigation by the U.S. Securities and Exchange Commission.
Earlier this month, Stanard was found liable for securities fraud and for making false or misleading statements to auditors, providing false official certificates, and rape and aiding or abetting of violations of securities laws, the SEC said. Stanard, an actuary by training with a Ph.D. in finance from the University of New York, served as president and CEO of RenRe since its founding in 1993 until he left in 2005.
Stanard has been fined $ 100,000 for his role in a sham finite reinsurance transaction, but will not be prevented from serving as an officer or director in a public company, according to court documents (BestWire, Feb. 3, 2009) .
Two years ago, RenaissanceRe agreed to pay $ 15 million to settle allegations that the SEC has created a sham reinsurance transaction to correct $ 26 million in revenues from 2001 to 2002 and 2003 (BestWire, Feb. 9, 2007 ).
RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance.
Renaissance Re Ltd., a subsidiary of RenaissanceRe Holdings, currently has a Best's financial strength rating of A + (Superior). Company's shares traded at $ 45.45 on the morning of 23 February, up 0.02% from the close.
(By Meg Green, senior editor, BestWeek: Meg.Green @ ambest.com)
Copyright © 2009 hours Best Company, Inc., RenaissanceRe Holdings Ltd. has blocked President, CEO and Director Neill A. Currie for a longer contract. The extended enterprise Currie contact, which was to expire on 22 February 2010 until February
RenaissanceRe Holdings Ltd has blocked President, CEO and Director Neill A. Currie for a longer contract.
The extended enterprise Currie contact, which was to expire on 22 February 2010 until 22 February 2014.
When Currie prior to employment expired in 2010, he was subject to automatic renewals for a term of one year. Currie, co-founder of RenaissanceRe (NYSE: RNR), served as CEO since November 2005. Currie will also continue to serve on the company board of directors.
"This long-term agreement ensures continuity of management of RenaissanceRe least one person who has placed our business for the long-term success," W. MacGinnitie James, president, said in a written statement.
Currie became CEO in 2005, when then-President and CEO James N. Stanard has left the company was under investigation by the U.S. Securities and Exchange Commission.
Earlier this month, Stanard was found liable for securities fraud and for making false or misleading statements to auditors, providing false official certificates, and rape and aiding or abetting of violations of securities laws, the SEC said. Stanard, an actuary by training with a Ph.D. in finance from the University of New York, served as president and CEO of RenRe since its founding in 1993 until he left in 2005.
Stanard has been fined $ 100,000 for his role in a sham finite reinsurance transaction, but will not be prevented from serving as an officer or director in a public company, according to court documents (BestWire, Feb. 3, 2009) .
Two years ago, RenaissanceRe agreed to pay $ 15 million to settle allegations that the SEC has created a sham reinsurance transaction to correct $ 26 million in revenues from 2001 to 2002 and 2003 (BestWire, Feb. 9, 2007 ).
RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance.
Renaissance Re Ltd., a subsidiary of RenaissanceRe Holdings, currently has a Best's financial strength rating of A + (Superior). Company's shares traded at $ 45.45 on the morning of 23 February, up 0.02% from the close.
(By Meg Green, senior editor, BestWeek: Meg.Green @ ambest.com)
Copyright © 2009 hours Best Company, Inc., RenaissanceRe Holdings Ltd. has blocked President, CEO and Director Neill A. Currie for a longer contract. The extended enterprise Currie contact, which was to expire on 22 February 2010 until February
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