Everest Re Group has named the successor to its existing CEO who will start from the start of 2020.
Chubb's Juan Andrade will become chief operating officer (COO) effective September 1 and succeed Dominic Addesso as president and chief executive officer (CEO) of Everest Re from January 1, 2020.
Addesso, who has been with the company for over 10 years in top leadership roles, is set to retire at the end of 2019. He joined Everest in 2009 as EVP and CFO, was appointed president in June 2011, and became the CEO at the end of 2013.
Andrade was most recently president of overseas general insurance at Chubb, responsible for business in over 50 countries outside of North America, including commercial P&C, traditional and specialty personal lines, and accident and health insurance. Prior to ACE’s acquisition of Chubb in January 2016, he was an executive vice president, of ACE and the chief operating officer for ACE Overseas General with responsibilities in both the US and international.
Andrade has more than 25 years of experience in the insurance industry, working in the US and across Europe, Asia Pacific, Japan, Latin America and Africa, as well as the London wholesale market and Lloyd’s.
Joe Taranto, Everest Re chairman, said: “The Board is incredibly excited to have an executive with Juan’s strength, skillset and experience to chart our plan for success into the future. We also want to thank Dom for his leadership in strategically diversifying and growing Everest. He has positioned us exceedingly well for continued success.”
Addesso, CEO, commented: “I very much look forward to working with Juan for the remainder of 2019 and supporting his leadership in 2020 and beyond. I also wish to thank the Board for their support over the years and my Everest colleagues for their many achievements in our evolution.”
Everest Re Group, Appointment, Property and Casualty, Specialty Insurance, Reinsurance, Juan Andrade, Bermuda, North America