Everest
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Jaymin Patel joined Berkley Specialty London in 2021 as senior engineering underwriter. -
The underwriter will fill a newly created role at AIG.
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Habayeb will start next May following Kociancic's retirement.
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The appointment follows Everest’s $2bn renewal rights sale of its commercial retail business to AIG.
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Everest’s AIG deal meaningfully cuts its primary exposure.
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The revised outlooks reflect the difficult moment as Everest moves away from retail.
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Sources said that the businesses in Canada and LatAm were part of Everest’s original plans to sell its retail book.
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AIG has agreed to pay Everest $10mn per month for nine months for transition services.
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The company’s stock fell nearly 9% as the market digested news of an ADC, renewal rights deal and reserve charge.
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Jason Keen joined Everest in 2022 as head of international.
