Mike Sapnar is stepping down as president and CEO of Transatlantic Holdings Inc. and might be changed by Kenneth Brandt, co-president of worldwide underwriting, the reinsurer stated in an announcement Monday.
Mr. Sapnar, who has headed the reinsurer since 2012, is leaving “to pursue one other alternative” and can stay with New York-based TransRe till April 30, the assertion stated.
Mr. Brandt joined the reinsurer in 2006 and has held numerous govt positions.
As well as, Paul Bonny, co-president of worldwide underwriting at TransRe, was named govt vice chairman of the corporate.
Earlier this month, father or mother firm Alleghany Corp. introduced a management change.