Everest Names Kelly Abeles as Head of Affinity, Accident & Health at Everest Insurance®
Everest Group, Ltd. (NYSE: EG), a global underwriting leader providing world-class reinsurance and specialty insurance solutions, announced Kelly Abeles has been named Head of Affinity, Accident & Health (A&H), effective immediately. She will report to Shawn Austin, Head of A&H, North America.
Bringing more than 30 years of insurance industry experience, Ms. Abeles will lead the development and execution of Everest’s Affinity strategy, enhancing the Company’s A&H offerings across diverse distribution channels, including associations, membership groups, digital platforms, and other strategic partners.
“Kelly’s deep expertise in affinity markets and proven track record of driving strategic growth initiatives make her an outstanding addition to Everest,” said Shawn Austin, Head of A&H, North America. “Her leadership will be instrumental as we strengthen our A&H platform, enter new markets, and deliver innovative, customer-centric solutions to our partners.”
Ms. Abeles’ work has spanned public, private, and non-profit sectors. She was most recently Vice President of Association Strategy, Underwriting, and Distribution at Prudential where she led its successful strategic growth plan. Ms. Abeles was previously Vice President, Affinity Practice Lead at American International Group (AIG) and has held leadership roles at subsidiaries of the American Bar Association and American Dental Association.
Everest Reports Second Quarter 2025 Results
Everest Group, Ltd. (NYSE: EG), a global underwriting leader providing best-in-class property, casualty, and specialty reinsurance and insurance solutions, reported its second quarter 2025 results.
Second Quarter 2025 Highlights
Net Income of $680 million; Net Operating Income of $734 million
Total Shareholder Return of 14.8% annualized 1; Annualized 18.2% Net Income ROE and 19.6% Net Operating Income ROE
$4.7 billion in gross written premium, a year-over-year decrease of 0.7% for the Group, an increase of 1.6% for Reinsurance, and a decrease of 3.3% for Insurance on a comparable basis; Growth in property and specialty lines across both segments was offset by reductions in certain casualty lines
Combined ratios of 90.4% for the Group, 85.6% for Reinsurance and 102.0% for Insurance. Aviation losses associated with the Russia / Ukraine war contributed 2.5 points and 3.2 points to the Group and Reinsurance combined ratios, respectively.
Attritional combined ratios of 88.6% for the Group, 84.1% for Reinsurance and 100.7% for Insurance
Net favorable development of approximately $39 million in prior year loss reserves in Reinsurance, resulting in a 1.0 point decrease on the combined ratio for the Group.
Pre-tax underwriting income (loss) of $385 million for the Group, $436 million for Reinsurance, ($18) million for Insurance, and ($33) million for Other
$20 million of pre-tax catastrophe losses net of recoveries and reinstatement premiums for the Group versus $135 million in Q2 2024
Net investment income increased to $532 million versus $528 million in the prior year quarter, reflecting strong alternative investment returns in both periods.
Operating cashflow for the quarter of $1.1 billion versus $1.3 billion in Q2 2024
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Everest Insurance Launches in Australia, Expands Asia Pacific Business
Everest announced it has officially launched its Australian Insurance operations after receiving approval from the Australian Prudential Regulation Authority. The business will operate under the name Everest Insurance Australia® with offices established in Sydney and Melbourne.
Christian Colombera, Managing Director, Australia and Head of the Pacific Region will lead the business alongside a team of best-in-class regional underwriters to serve the growing needs of corporations across the Australian market.
“As we continue enhancing our global presence, we bring Everest’s customer-first model and decades of underwriting discipline and financial strength to address the unique and growing needs of the Australian market,” said Mr. Colombera. “We have assembled a deeply experienced team with a keen understanding of local market dynamics and the challenges facing businesses demanding the capacity and expertise across a wide range of insurance needs that Everest will deliver.”
Everest’s breadth of bespoke insurance products will help fill a crucial void for tailored risk solutions in the property, casualty, financial lines, professional lines, and energy and construction sectors with the speed and agility required in the current insurance landscape.
Commenting on the announcement, Scott Leney, Head of Asia Pacific, Everest Insurance International® said, “Australia is a top-ten global insurance market ripe for Everest’s agile and entrepreneurial approach to risk. Australian clients and brokers need Everest’s financial support, top industry talent and broad suite of specialty products and capabilities.”
“Our disciplined expansion strategy positions Everest as a preferred market leader, bringing the full strength of Everest resources to key regions like Australia and globally,” said Jason Keen, co-lead of Everest Insurance International®.
Everest Insurance® North America Names Key Executives to Support Regionalized, Customer-Focused Growth Strategy
Everest Insurance®, the insurance division of Everest Group, Ltd. (NYSE: EG), announced the appointment of four key United States regional executives as part of a strategic realignment of its retail business into four distinct regions: Northeast, South, Central, and West. The organizational change supports the Company’s customer-focused mission and objective to become the preferred global P&C insurance leader.“Continuous growth demands deeper relationships that inspire confidence through engagement and accountability,” said Mike Mulray, President of Everest Insurance North America. “By establishing localized, collaborative teams that enhance client access to our best talent, expertise, and full range of risk management resources, Everest can scale its customer service excellence, delivering more for our clients, brokers, and colleagues alike.”Everest has named the following US Regional Executives to the North America Insurance leadership team:
Craig Hanrahan, Regional Executive, US Northeastern Region joins Everest from Chubb, where he was Executive Vice President, Major Accounts. With over three decades of industry experience, including tenures with Marsh and AIG, Mr. Hanrahan brings a considerable breadth of insurance expertise to guide and execute the Company’s ambitious growth program in the critical, opportunity-rich Northeast region.
Marissa Jennings, Regional Executive, US Southern Region joins the Company from Zurich Insurance Group, where she most recently led the strategic growth strategy for the Southeast region. She previously held roles of increasing responsibility with The Hartford Insurance Group and Progressive, and brings a wealth of experience in building key relationships in the high-growth Southern region.
Marcus Cooper, Regional Executive, US Central Region was previously Head of Distribution for Everest Insurance® North America. Before joining Everest in 2021, Mr. Cooper’s 20-year career included leadership roles at Liberty Mutual, AIG, and Zurich North America, providing a superior range of experience to enable success in leading the Company’s growth strategy across the Midwestern states and elsewhere.
Michael Cellura, Regional Executive, US Western Region was previously Head of International Facultative Reinsurance for Everest. Prior to joining Everest in 2022, Mr. Cellura spent more than 15 years with Chubb, where he held various executive positions including Northern California Executive, overseeing insurance underwriting and operations, the ideal preparation for leading Everest’s long-term growth strategy in the West.
“Bringing decades of industry expertise and region-specific experience, these accomplished leaders empower Everest to meet our customers where they are, positioning us to go deep in each market and drive continued growth,” continued Mulray. “This strategic realignment brings us closer to our customers while reinforcing our commitment to being the partner of choice to our clients and brokers.”
Everest Insurance® Launches Dedicated U.S. Wholesale and Programs Market Division
Everest Insurance®, the insurance division of Everest Group, Ltd. (NYSE: EG), a global underwriting leader providing best-in-class property, casualty, and specialty reinsurance and insurance solutions, has established a dedicated U.S. Wholesale and Programs Division to serve the distinct and evolving needs of this market.
“This dedicated offering reflects Everest’s decades of experience and exceptional support for our wholesale partners,” said Mike Mulray, President of North America Insurance. “We are further strengthening our commitment by bringing our customers and distribution partners highly customized capabilities and greater access to the full breadth of our products and services, with the customer-first culture they expect from Everest.”
Everest Insurance® Division Names Charlie Higham Head of Everest Underwriting Partners
Everest Group, Ltd. (NYSE: EG), a global underwriting leader providing best-in-class property, casualty, and specialty reinsurance and insurance solutions, has appointed Charlie Higham Senior Vice President and Head of Everest Underwriting Partners. He succeeds Brian Drum who will retire from Everest on September 1, 2023, after 16 years with the company.
Mr. Higham will lead all program administrator and digital distribution partnerships to support the growth and expansion of the Company’s highly diversified, high growth portfolio.
“Everest is fortunate to have the caliber of underwriting talent like Charlie who is well suited to lead one of our most profitable portfolios,” said Mike Mulray President, Everest Insurance North America. “Charlie’s portfolio management expertise combined with a deep understanding and appreciation for our distribution relationships brings a unique perspective to this important business line and the partners we serve.”
Mr. Higham is a seasoned underwriting leader with 20 years of specialty insurance experience. He most recently served as Everest’s Head of Financial and Professional Lines where he led the strategy and built a dedicated financial lines team from the ground up. Prior to Everest, Mr. Higham ran the financial institutions group at Zurich North America. Earlier in his career, he held underwriting and management positions in the international and financial institution departments at both Arch Insurance Group and The Hartford. Mr. Higham holds a Bachelor of Science degree in Finance from the University of Dayton.
“In addition to congratulating Charlie, we also want to thank Brian for the significant impact he made on our business and wish him all the best in his retirement,” continued Mulray. “His underwriting discipline, professionalism and integrity has set an extremely high bar we will proudly carry forward working alongside Charlie and his team.”
Everest Insurance sets up branches in Paris and Düsseldorf
Everest Insurance®, the Insurance division of Everest Re Group, Ltd. announced its further expansion into the European market with official opening and regulatory approval to operate two new branches in Paris, France (Everest Insurance (Ireland), DAC France Branch) and Düsseldorf, Germany (Everest Insurance (Ireland) DAC, Niederlassung für Deutschland). Plans for a third European branch opening in Madrid, Spain is also underway for later this year.
“Our international expansion is driven by an intentional focus to continue to diversify our business and grow in a robust global market with tremendous need and potential,” said Mike Karmilowicz, President & CEO, Everest Insurance®. “While clients and brokers face challenging and new emerging risks, Everest Insurance® is bringing a new commitment to the European market. Backed by the full strength and capital of Everest, we are well-positioned to deliver our customer-first model to these key markets, providing clients with access to first-class industry talent and the customized risk solutions they need.”
“The newly established branches are led by Anne Charon, Head of France and Bernd Wiemann, Head of Germany. Each branch will deliver local expertise and customized risk solutions to their respective markets, directly addressing the region’s unique market dynamics. Everest’s Paris office will service key sectors including property, casualty, energy and construction, professional lines/indemnity, cyber, accident and health, credit and surety, and financial lines. Everest’s Düsseldorf office will service key sectors including commercial property, casualty, and financial lines of business.
“Our expansion into the European market is a significant opportunity to continue our commitment to delivering superior customer service, underwriting excellence, and a distinct suite of products and services that clients and brokers depend on from a partnership with Everest,” said Adam Clifford co-lead of Everest Insurance International®. “We look forward to collaborating with Anne and Bernd as we expand our value proposition further throughout continental Europe and globally.”
Jason Keen, co-lead of Everest Insurance International® added, “Europe is a breeding ground for the industry’s top talent, and Anne and Bernd have each assembled an exceptional team of professionals. I am confident in their ability to deliver the value, local market expertise and experience deserving of our clients and brokers in each of these key regions.”
The European expansion of Everest’s primary insurance operations follows its recent entrance into the Latin American and Asia Pacific markets and continues the advancement of its international expansion strategy.
Everest Insurance® Division Continues Strategic Expansion of U.S. Wholesale With Key Leadership Appointments
Everest Insurance®, the Insurance division of Everest Re Group, Ltd. (“Everest”) (NYSE: RE), announced key appointments in its U.S. Wholesale division. Casey Hartley has been named Senior Vice President and Head of U.S. Wholesale Casualty and Danielle Stewart has joined the company as Vice President and National Head of Wholesale Distribution. These appointments build on the company’s recent strategic realignment of its U.S. Casualty business around the unique needs of retail and wholesale partners.
“The leadership appointments of Casey and Danielle underscore our investment in our wholesale offering and reflect our progress advancing Everest’s broader U.S. Casualty strategy and business,” said Dave Sandler, President of U.S. Casualty for Everest Insurance®. “With Casey at the helm and the addition of Danielle leading our distribution strategy, we are well positioned to address the evolving needs of the wholesale marketplace with the service, speed and customization our partners have come to expect from Everest.”
As Head of U.S. Wholesale Casualty, Casey will lead the growth and strategy of Everest’s Wholesale Casualty business units, reporting directly to Dave Sandler, President of U.S. Casualty for Everest Insurance®. Casey joined Everest as a Wholesale Casualty Chief Underwriting Officer, bringing more than two decades of technical industry experience and deep relationships with key trading partners. Prior to joining Everest in 2021, Casey’s career includes a decade at Liberty Mutual, as well as roles at St. Paul Travelers. Casey received a Bachelor of Science in Risk Management & Insurance from The University of Georgia.
In Danielle’s newly created role, she will work closely with Casey and the broader wholesale underwriting leadership team to lead a comprehensive national go-to-market strategy with dedicated regional leaders to best serve our wholesale partners in their local markets. Danielle is based in Los Angeles and reports directly to Marcus Cooper, Senior Vice President and Head of North America Distribution for Everest Insurance®.
In Danielle’s newly created role, she will work closely with Casey and the broader wholesale underwriting leadership team to lead a comprehensive national go-to-market strategy. She will be supported by dedicated regional leaders to best serve wholesale partners in their local markets. Danielle is based in Los Angeles and reports directly to Marcus Cooper, Senior Vice President and Head of North America Distribution for Everest Insurance®.
Danielle joins Everest from Liberty Mutual, most recently as Director of Business Strategy where she was responsible for the development and execution of strategic initiatives for mid-sized commercial profit centers. Prior to that, she managed a portfolio of Primary Casualty E&S business for Liberty’s wholesale underwriting division as well as spent time in distribution leadership and underwriting roles for the wholesale and retail teams. Danielle holds a Master of Business Administration from Emory University’s Goizueta Business School and received a Bachelor of Science in Business Administration from the University of South Carolina.
Marcus Cooper, Senior Vice President and Head of North America Distribution for Everest Insurance® commented, “The combination of Danielle’s underwriting and distribution experience uniquely positions her to lead the development of a strong long-term strategic roadmap that’s focused on our wholesale commitments, investments, and solutions. I look forward to Danielle’s buildout of our wholesale distribution network and the sustained growth of our Wholesale Casualty business under Casey’s leadership.”
Everest Insurance® Expands Into Latin America With Official Opening in Santiago, Chile
Everest Insurance®, the Insurance division of Everest Re Group, Ltd. (“Everest”) (NYSE: RE) announced that it has officially entered the Latin American market after receiving approval from the Commission for the Financial Market (CMF) to operate in Chile under the name Everest Compañía de Seguros Generales Chile S.A. Senior Vice President and Regional President of Latin America Pablo Korze will lead operations and a team of seasoned underwriters uniquely positioned to serve the growing needs of corporations across the Latin American market, with a flagship office in Santiago, Chile.
“As we continue to expand our Everest Insurance® global footprint, we’re bringing our customer-first model, decades of underwriting discipline and financial strength to address the unique and growing needs of the Latin American market,” said Pablo Korze, Senior Vice President and Regional President of Latin America, Everest Insurance®. “We have assembled a deeply experienced team with a keen understanding of local market dynamics and challenges facing corporations who need the capacity and expertise across a wide expanse of insurance needs that Everest is known to deliver.”
Everest’s bespoke breadth of insurance products will help fill a critical void for tailored risk solutions in the property, marine, casualty and financial lines sectors with the speed and agility required in the current insurance landscape.
“Building on the success of our world-class specialty insurance operations, we’re bringing the full strength of Everest resources and capital position to key regions like Chile and around the world where our expertise is needed most,” said Mike Karmilowicz, President & CEO, Everest Insurance®. “We are well-positioned, with first-class industry talent and a broad suite of specialty insurance products and capabilities to lead local corporate segments in Latin America, as we continue to expand our position as a preferred market leader.”
Everest Insurance Promotes Wu to E&S Excess Casualty National Leader
Everest Insurance announced that Edward Wu has been promoted to the role of vice president and national leader, Excess & Surplus Excess Casualty.
In this role, Wu will be responsible for strategy, underwriting discipline and production for the E&S Excess Casualty team nationally. He will lead the team located in offices in Atlanta, Chicago, Stamford, Los Angeles and New York. Wu remains based out of the company’s Los Angeles office.
Wu joined Everest Insurance earlier this year as vice president, West Coast regional manager, for E&S Excess Casualty. Prior to joining Everest, he was a vice president and Casualty manager for the Western region at Sompo International. Previously, he was with Arch Insurance Group.