The chairman of Italian investment giant Exor today became chairman of the board at PartnerRe.

John Elkann’s firm completed a $6.9 billion deal to take over the Bermuda reinsurer after a takeover battle with Axis Capital Holdings.

Emmanuel Clarke, president of PartnerRe, will become president and CEO, subject to approval by the Department of Immigration.

Mr Elkann said: “I am honoured to assume the role of chairman of PartnerRe and very pleased that we can appoint from within the company a CEO of the calibre and experience of Emmanuel Clarke.

“His intimate knowledge of PartnerRe and his deep understanding of the sector will prove crucial as we embrace the challenges and the many exciting opportunities we have in front of us.”

Mr Clarke, who was previously CEO of PartnerRe Global, has been a member of the firm’s executive team since 2010.

He has been with the company 19 years and worked in a variety of senior roles, becoming head of specialty lines, global in 2008.

Mr Clarke said: “I am thrilled to accept the board’s appointment.

“PartnerRe is at an exciting place in its evolution and I look forward to working with the board and our talented teams to build on the success we have achieved so far.”