Jim Williamson has been named acting chief executive of Bermudian-based Everest Group Ltd after the resignation of president and CEO Juan C. Andrade.

Mr Andrade, who had served in those dual roles since 2020, has been appointed as the next president and chief executive officer of USAA, which provides insurance, banking and retirement solutions for nearly 14 million members of the US military, veterans and their families. The appointment is effective April 2.

Mr Williamson, the company’s executive vice-president and group chief operating officer, also joins Everest’s board of directors.

Joseph Taranto, chairman of the board at Everest, said: “The board of directors has great confidence in Jim and is pleased to have appointed him to take the helm at Everest.

“His appointment is consistent with the board’s succession planning process, and we believe that his deep experience spanning insurance and reinsurance sectors, functional areas and geography will deliver value for stakeholders and position Everest well for the future.

“Jim will continue to partner with an experienced and talented group of senior colleagues, including CFO Mark Kociancic, to achieve Everest’s long-term strategic goals. In addition, we wish Juan well in his new position.”

Mr Williamson is a 20-year veteran of the insurance industry. After joining Everest in 2020 as group COO, he assumed the expanded role as head of the company’s reinsurance division in May 2021 and was promoted to lead both the reinsurance and insurance businesses last March.

Over his career — spanning Everest, The Hartford, Chubb and Ace — Mr Williamson has held senior positions in all aspects of the P&C industry including commercial, specialty and consumer lines of business in the US and internationally.

Mr Andrade has served on the USAA’s board of directors for the last four years. He was also vice-chairman of the USAA’s advisory panel and is a member of the organisation.

Earlier in his career, the USAA said, Mr Andrade worked in national security, international affairs and drug policy within the US federal government’s executive branch and the executive office of the president.

During this time, he held various roles, including with the Office of the Secretary of Defence, the Drug Enforcement Administration and the White House Office of National Drug Control Policy.

Mr Andrade was awarded the Secretary of Defence Medal for Meritorious Civilian Service, the second-highest honour for civilian employees, for his work countering international drug trafficking.

Vice-Admiral (USN, Retired) Jim Zortman, USAA board chairman, commented: “USAA is a special association, and the board took great care to find someone with the right expertise, vision and leadership.

“Juan has a deep respect for our men and women in uniform, having served alongside them to help safeguard our national security.

“We know he will continue his track record of building high-performing teams and enhance USAA’s legacy of service.”

Mr Andrade said: “I’m excited to build upon USAA’s legacy and continue innovating to add value to our members’ experiences and help more military families achieve financial security.

“I admire the association’s dedication to the military community and their families. Witnessing first-hand the outstanding service the team provides to our courageous servicemen and women, I am honoured to lead USAA in its second century of service.”

Mr Andrade succeeds Wayne Peacock, who has retired after leading the USAA since 2020.

Headquartered in San Antonio, Texas, the USAA has offices in eight US cities and three overseas locations and employs more than 37,000 people worldwide.