Everest Insurance taps former AIG for global chief actuary

Former AIG senior actuary Melissa McDermott has been named global chief actuary for Everest Insurance.

Bermuda-based Everest Group said McDermott will report to Mike Karmilowicz, president and chief executive officer of Everest Insurance. With extensive experience overseeing global teams and actuarial strategies across the property and casualty industry, Everest said she will partner with the actuarial, underwriting, and claims teams across the global insurance organisation, as well as Everest’s reserving teams.

McDermott was most recently chief actuary for North America general insurance at AIG where she led the pricing, reserving and portfolio management strategy for several lines of business. Prior to that, she was head of global specialty, insurance pricing at AXA XL and spent eight years at Travelers, where she held a variety of roles as part of the company’s actuarial and executive leadership rotational program.

“Melissa is a recognised leader in the actuarial world, known for shaping complex, global pricing and reserving strategies that drive profitable growth,” said Karmilowicz. “She is a strategic, trusted partner to underwriters, business leaders and brokers industry-wide and I am thrilled Melissa is here to support the continued success of our insurance portfolio at a time of ongoing growth and expansion.”