Everest
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Jill Beggs has been named chief operating officer for reinsurance.
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The carrier said it has acted prudently on 2016-19 GL loss trends.
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Insurance Insider US runs you through the earnings results for the day.
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Chuck Volker has been with Everest for more than 20 years, most recently serving as SVP, head of US property and specialty.
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Bill Hazelton replaces David Sandler, who is leaving Everest after six years.
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The business will bring together aviation, marine, cyber, engineering and parametric solutions.
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Ratings could be lowered by one notch depending on regulatory restrictions on cash flow from Bermuda operating entities to non-operating holding companies, the ratings agency said.
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The executive will be responsible for all aspects of Everest’s retail, middle market and builder’s risk businesses.
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Everest is targeting a combined ratio of 89%-91% for 2024-2026, compared to the 91%-93% target range from its previous investor day event in 2021.
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This year, casualty pro-rata rates overall moved about 1 point, Everest’s Jim Williamson added, noting other deals in H2 where the numbers moved more than that.
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