Stamford, CT, June 4, 2014 … Gen Re announced several planned organizational changes at GR-NEAM today prompted by Gerard (Jerry) Lynch's announcement that he will be retiring on December 31, 2014. Jerry has been GR–NEAM’s Chairman and CEO since founding New England Asset Management (NEAM) in 1984.
Effective immediately, GR–NEAM’s current President, William (Bill) Rotatori, is promoted to Chief Executive Officer and Chip Clark is appointed to President. Jerry Lynch will remain Chairman until his retirement, at which point he will become Non-Executive Chairman of GR–NEAM.
Tad Montross, Chairman, CEO and President of Gen Re, commented, “It is hard to describe the respect and admiration I have for Jerry. He is, simply said, ‘a class act.’ Jerry founded NEAM in 1984 and went on to build NEAM into a boutique insurance investment manager with a sterling reputation. In 1995 NEAM was sold to Gen Re. Since then, unaffiliated assets under management increased from $9.4 billion to $63 billion while their insurance company client base has grown from 45 to 100. Jerry and his team’s combination of investment acumen, a superb technology platform and efficient investment accounting services, has driven their success.
I am very pleased with the transition to Bill and Chip as they will make a terrific team providing the leadership that will ensure GR–NEAM's next chapter is equally successful.”
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Gen Re, a Berkshire Hathaway Company, is one of the leading Property/Casualty and Life/Health reinsurers in the world, with a network of more than 40 branch and subsidiary offices in key reinsurance markets.