Everest
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The executive, Everest CEO from 1994 to 2013, has served as board chair since 1994. -
John Howard was appointed as an independent, non-executive member.
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Deteriorating CoRs, GWP growth and fears over wildfire impacts were common themes.
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At 1 January renewals, prices dropped 5%-15% for loss-free programmes.
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The Bermudian’s wildfire loss estimate was based on an industry loss range of $35bn-$45bn.
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CEO Jim Williamson said social inflation was a “growing barrier” to a vibrant economy.
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The (re)insurer recorded a reserve charge of nearly $1.3bn within its casualty insurance book.
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He was appointed acting CEO earlier this month, after Andrade’s departure.
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Carlos Becerra will succeed Delgado as Miami-based LatAm fac head.
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The carrier tapped the run-off market in Q4 for a US casualty insurance-focused portfolio.
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He succeeds Wayne Peacock, who retires this year after four years of service.
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Andrade is taking up a CEO role at another “prominent financial services firm”, Everest said.
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