Everest Re Group vice-chairman and chief underwriting officer Thomas Gallagher has told the Bermuda-based company he intends to reitire, effective October 9, 2009.

Before he took up his current roles in 2008, Mr. Gallagher had served as president and chief operating officer of Everest Re since 1997.

"I feel fortunate to have had the opportunity to help build the company into the well balanced, diversified industry leader it is today," Mr. Gallagher said. "Everest and the entire management team are well-positioned for the future."

Everest chairman and chief executive officer, Joseph Taranto, said: "Tom's many years of guidance have positioned Everest as a global reinsurance leader with operations worldwide. All of us at Everest want to thank him for his remarkable and long-standing commitment to the Company and wish him the best in his well-deserved retirement."