Everest
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The Spanish branch is part of Everest’s strategic expansion into international insurance. -
The former reinsurance CEO had previously parted ways with Bob Cooney after working together on a reinsurer start-up last year.
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The carrier is expanding its A&H appetite in London as part of its international insurance growth strategy.
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With a four-decade-long career in global financial services, McNeilage also serves on the boards of the Reinsurance Group of America and Scholarship America.
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Sources said Miami-based Everest fac VP Sean Berry is set to move to London as head of international property.
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David Mann joins from Axa XL, where he spent a decade, most recently leading the London liability team.
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In an interview, the CEO also addressed the carrier’s international expansion and portfolio remediation.
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The executive described the hardening property cat market as a “tremendous opportunity” for the Bermudian.
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The Bermudian’s operating loss per share, however, grew nearly four times from the prior-year quarter to $5.28 per share.
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The reinsurer attributed $600mn to Hurricane Ian, based on an estimate that the total insured industry losses would come to approximately $55bn.
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The carrier is pursuing a strategic expansion in primary insurance lines, and has also made several marine appointments.
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