Everest

This will be the second senior appointment for Everest in LatAm after the (re)insurer hired Chubb’s Jaime Chaves as CEO in Mexico as part of its global build-out.

The chief executive also remarked on the strong rating environment in the property cat (re)insurance markets.

Everest’s reinsurance unit grew GWP nearly 27% to ~$2.8bn, driven by an increase of 34.7% in property pro-rata, 29.6% in property cat and 16.2% in casualty pro-rata.

Axa’s lack of success in selling its more volatile XL Re segment has led the insurer to cut back on those lines, but the current rate environment makes this a good time to revisit a sale.

The reaction to capital raising this year signals that investor belief in risk-takers is reinvigorated.

The executive will report to international segment co-heads Adam Clifford and Jason Keen.

Laval brings with him over three decades of insurance experience, including as chief distribution officer for Europe, Asia and the Pacific at Axa XL.

Maritzen joins Everest after less than six months as head of underwriting for Berkshire Hathaway’s property program business.

Sources said the (re)insurer held an equity interest of approximately 20% in the Miami-based MGA.

Early private deals have provided far more stability in this year’s renewal than last.

The company reiterated that net proceeds will be used for general corporate purposes, which may include expanding its existing business lines and operations.

The move follows a rebrand completed in November 2022.