Everest Group Ltd, the Bermudian-based company, has promoted Jim Williamson to lead its reinsurance and insurance businesses.

“Jim is an excellent executive, a multifaceted operator, and consummate underwriter with a record of building best in class businesses,” said Juan C Andrade, Everest president & CEO.

“Jim has been a valuable partner in driving Everest’s transformation to the world class company we are today.

“As we continue to expand, diversify and scale Everest’s global platform, Jim’s diverse property & casualty experience spanning multiple lines of business, functions, and geographies is ideal to lead our global portfolio in Everest’s next chapter.”

The company said Mr Williamson currently serves as Everest’s EVP, group chief operating officer and head of the company’s reinsurance division, where he has delivered record results and profitability.

In his expanded role which includes head of the insurance division, he will work closely with the company’s global insurance leaders as well as Jill Beggs, chief operating officer of Reinsurance who now leads all of the reinsurance division’s global businesses.

Prior to Everest, the company said, Mr Williamson served in various leadership positions at premier global insurance and advisory firms including Chubb, ACE, The Hartford and Bain & Company.

Mr Williamson said: “I look forward to working with my reinsurance and insurance colleagues in this capacity as we continue to advance Everest’s strong culture of operating excellence and deliver leading financial returns to our shareholders.”

Everest also appointed Mike Karmilowicz to chairman, Everest Global Insurance where he will support the advancement of Everest’s global insurance strategy, driving key strategic initiatives including the company’s priority global distribution strategies, aligning Everest’s value proposition to the evolving needs of clients and partners.

Mr Karmilowicz, who will continue to report to Mr Andrade, said: “It is an exciting time for Everest insurance, and I am proud of how far the business has come. I am eager to take on this new role, working with our talented team to help lead our mission, advance our global strategy and enhance the Everest brand."

Mr Andrade added: “I am delighted to appoint Mike as chairman, Global Insurance, where he will help to execute on Everest’s top strategic growth priorities. With his depth of experience, I am confident that he will bring tremendous value to this role, and to our growing franchise.

“Mike has been a driving force in shaping our primary insurance business since 2015. Under his leadership, we have significantly enhanced our platform and capabilities in North America, while scaling our global value proposition.

“Mike’s industry experience and skills, coupled with Jim’s global expertise will be invaluable as we continue building a premier, high-margin global insurance company.”