Form 8-K - Current report

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

Current Report Pursuant to Section 13 OR 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)

January 8, 2025 (January 3, 2025)

Everest Group, Ltd.

(Exact name of registrant as specified in its charter)


Bermuda	1-15731	98-0365432

(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification No.)

Seon Place – 4th Floor 141 Front Street PO Box HM 845 Hamilton, Bermuda		HM 19

(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code 441-295-0006


Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Class

Trading Symbol(s)

Name of Exchange where registered

Common Shares, $0.01 par value

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 12(a) of the Exchange Act. ☐

ITEM 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On January 3, 2025, Juan C. Andrade, President and Chief Executive Officer and director of Everest Group, Ltd. (“Everest”) notified Everest that he was resigning to pursue another opportunity.

On January 5, 2025, the Board of Directors of Everest (the “Board) appointed Jim Williamson, age 50, as Acting Chief Executive Officer effective immediately. The Board is also designating Mr. Williamson to replace Mr. Andrade as a member of the Board, effective January 8, 2025.

Mr. Williamson joined Everest in October 2020 as Executive Vice President and Chief Operating Officer (“COO”). In May 2021, Mr. Williamson took on additional responsibilities as Head of Reinsurance for Everest and in March 2024, he expanded his role to lead Everest’s global reinsurance and insurance businesses. In April 2024, Mr. Williamson was elected as the Chair of the Reinsurance Association of America. Prior to Everest, Mr. Williamson spent seven years with Chubb Limited (“Chubb”) in various positions, including as Division President, North America Small Business from January 2016 until September 2020. Mr. Williamson also spent over eight years at The Hartford Financial Services Group, Inc. (“The Hartford”), where he began his insurance career as a casualty underwriter and later led the underwriting and service operation for the small business insurance franchise. 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 United States and internationally. He has also had functional responsibilities for actuarial, technology and claims organizations during his career. Mr. Williamson holds an MBA from The Wharton School at the University of Pennsylvania and a B.S. from Bryant College.

On January 8, 2025, the Company issued a press release regarding the appointment of Mr. Williamson as the Acting Chief Executive Officer, which is furnished herewith as Exhibit 99.1 and is incorporated by reference.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS


(d)	Exhibits

	Exhibit No.	Description

	99.1	News Release of the Registrant, dated January 8, 2025

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


		EVEREST GROUP, LTD.

	By:	/S/ ROBERT J. FREILING
		Robert J. Freiling Senior Vice President and Chief Accounting Officer

Dated: January 8, 2025

EXHIBIT INDEX

Exhibit
Number

Description of Document

Page No.

99.1

News Release of the Registrant, dated January 8, 2025

104

Cover Page Interactive Data File (embedded

within the Inline XBRL document


NEWS RELEASE

EVEREST GROUP, LTD.

Seon Place, 141 Front Street, 4th Floor, Hamilton HM 19, Bermuda

Contacts

Media: Dawn Lauer Investors: Matt Rohrmann

Chief Communications Officer Head of Investor Relations

908.300.7670 908.604.7343

Everest Group Announces Leadership Transition

Appoints Jim Williamson Acting Chief Executive Officer

President and CEO Juan C. Andrade Departs Company

HAMILTON, Bermuda -- (BUSINESS WIRE) – January 8, 2025 – Everest Group, Ltd., a global underwriting leader providing best-in-class property, casualty and specialty insurance and reinsurance solutions, today announced that Jim Williamson, Executive Vice President and Group Chief Operating Officer, has been named Acting CEO, and accordingly has joined Everest’s Board of Directors, both with immediate effect.

Juan C. Andrade, who has served as President and CEO since 2020, has stepped down from his role to pursue a new position as CEO of a prominent financial services firm.

“The Board of Directors has great confidence in Jim and is pleased to have appointed him to take the helm at Everest,” said Chairman of the Board Joseph Taranto. “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.”

A 20-year veteran of the insurance industry, Mr. Williamson brings a wealth of experience to his new role. 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 in March 2024. 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.

About Everest

Everest is a global underwriting leader providing best-in-class property, casualty, and specialty reinsurance and insurance solutions that address customers’ most pressing challenges. Known for a 50-year track record of disciplined underwriting, capital and risk management, Everest, through its global operating affiliates, is committed to underwriting opportunity for colleagues, customers, shareholders, and communities worldwide.

Everest common stock (NYSE: EG) is a component of the S&P 500 index.

Additional information about Everest, our people, and our products can be found on our website at www.everestglobal.com.

Cover	Jan. 03, 2025
Cover [Abstract]
Document Type	8-K
Document Period End Date	Jan. 03, 2025
Entity Registrant Name	Everest Group, Ltd.
Entity Incorporation, State or Country Code	D0
Entity File Number	1-15731
Entity Tax Identification Number	98-0365432
Entity Address, Address Line One	Seon Place – 4th Floor
Entity Address, Address Line Two	141 Front Street
Entity Address, Address Line Three	PO Box HM 845
Entity Address, City or Town	Hamilton
Entity Address, Country	BM
Entity Address, Postal Zip Code	HM 19
City Area Code	441
Local Phone Number	295-0006
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Shares, $0.01 par value
Trading Symbol	EG
Security Exchange Name	NYSE
Entity Emerging Growth Company	false
Amendment Flag	false
Entity Central Index Key	0001095073