Everest
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The case is the latest US suit regarding whether physical damage is required to trigger BI payouts. -
The changing reinsurance market dynamics are impacting reinsurers' ability to raise rates.
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New CEOs were not able to consistently create higher book value growth than their predecessors, and any growth achieved wasn’t maintained after five years.
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The executive’s responsibilities will be taken on by chief operating officer Jim Williamson.
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Maria Grace had been with Everest since 2016, and was previously an executive within AIG’s Lexington unit.
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Several (re)insurer reporters do not anticipate the rate momentum to slow down materially even as they build on exposure growth.
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Rates for Japanese wind treaties increased between 5% and 10% at the April renewal, while quake pricing was up 5%.
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Premiums grew by 14%, led by 16% growth in reinsurance and a 14% expansion in insurance.
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The carrier has also named Matt Gallagher as head of executive solutions and Ayesha West as head of cyber liability.
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The insurance group says the Texas winter storms will likely cost the industry about $15bn in total.
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The CEO said the company will become more balanced and diversified under his watch.
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Michael Cipolla has worked at the carrier for nearly five years.
Related
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Q1 earnings roundup April 30: Everest, Markel, Axis and more
April 30, 2025 -
Everest Evolution announces three leadership appointments
April 24, 2025