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Everest Re’s Germano exits weeks after move to reinsurance

Everest logo New York.jpg

Everest Re executive Connie Germano, who recently took up a senior casualty treaty post after serving as Everest’s head of specialty casualty insurance division, has left the carrier, this publication can reveal.

Her destination was not immediately known, although sources indicated she would be headed to an InsurTech that currently sells software but is looking to establish an MGA.

Germano joined Everest in 2015 and served as president of specialty casualty for its insurance division until late last month.

Everest announced that she would take up a senior casualty treaty post, alongside its announcement that Jill Beggs had been recruited from Munich Re to lead Everest’s North America operation.

Germano was one of the earliest hires by former Everest Insurance CEO Jonathan Zaffino, who left the company last year to become group president at Ascot.

Her exit is the latest among an extended series of departures at the reinsurer, as Everest’s management team continues to put its stamp on the company.

Earlier this month, this publication revealed that Everest’s head of casualty in Bermuda, Mario Binetti, had left the firm.

Prior to that, the company recruited Tony Izzo from Guy Carpenter as its new global head of facultative reinsurance. Also in October, the reinsurer said its head of LatAm, Middle East, and Africa, Ron Diaz, would retire.

Melissa Ford, a senior vice president for Middle East and Africa, replaced him as interim head of LatAm.

In July, Peter Bell was named CEO of the company’s Bermuda operations.

All of these moves came after Everest’s COO, Jim Williamson, replaced former reinsurance CEO John Doucette in the top reinsurance post.

A spokesperson for Everest confirmed Germano's departure and said that the current head of casualty and surety treaty, Dennis Alba, who plans to retire in 2022, will remain in the role on an interim basis.

The spokesperson also emphasized that it remained Everest's priority to continue to strengthening its leadership talent in support of ongoing growth and momentum.

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