Everest Reinsurance, the reinsurance division of Bermudian-based Everest Group, has appointed Mark Wallace as Head of UK Branch and chief underwriting officer, subject to regulatory approval.

He is based in London and will report to Artur Klinger, Head of International Reinsurance.

Mr Wallace replaces Paul Tester who has been appointed SVP, executive advisory director, International Reinsurance. Mr Tester will continue as Head of UK Branch through the regulatory transition.

Mr Klinger said: “Mark has been instrumental in elevating our UK business and is well positioned with extensive global liability and specialty reinsurance expertise and a strong relationship network to lead our growing business as we continue to deepen our foothold in the UK market.

“I want to thank Paul for his exceptional leadership over the past 16 years and look forward to working closely with both of them and our senior team to position us for future opportunity.”

The company said Mr Wallace will be responsible for managing and directing the strategy and underwriting operations of the UK branch.

He was most recently Everest Reinsurance UK’s deputy chief underwriting officer and Head of Long Tail.