Bermuda-based reinsurer Everest Re Group has appointed Mike Mulray as Executive Vice President and President of North America Insurance.
Mulray most recently served as Global Chief Operating Officer for Everest Insurance, having first joined the firm in 2015 as Chief Underwriting Officer.
Since then, Everest states he has played a critical role in shaping, scaling, and transforming its insurance strategy.
He also led several of the insurance division’s key functional areas, including Actuarial Pricing & Modeling, Business Performance Management & Analytics, Corporate Underwriting, Risk & Ceded Reinsurance, Operations, and eIQ, Everest’s innovation team.
Collectively, Mulray holds over two and half decades of experience in the industry.
In his new role, Mulray will lead all aspects of North America, the insurance division’s largest portfolio. He will report to Mike Karmilowicz, President and CEO of Everest Insurance.
Karmilowicz commented, “Mike’s appointment as President of North America augments our world-class senior leadership team, bringing a dedicated, regional focus and superior service to our clients throughout the United States, Canada, and Bermuda.
“Mike has served in various leadership roles at Everest, has been instrumental to our success, and is a strong advocate for our inclusive culture.
“I look forward to working closely with him in his new role, as we deepen our North America presence and advance our position as a global, diversified, world-class insurer.”
Juan C. Andrade, Everest’s President and CEO, added, “Everest’s position as a global underwriting leader is fueled by exceptional talent.
“With Mike at the helm of our North America region, our clients will continue to receive innovative, tailored solutions with speed and efficiency that address their increasingly complex challenges.”
In its Q4 2022 results, Everest reported a 4.1 percentage point improvement in its combined ratio to 87.8%, as net income and operating income increased to $496 million and $478 million, respectively.
The company’s Q4 net income rose from $431 million a year earlier, while operating income jumped from $359 million in Q4 2021.
In March of this year, Everest appointed Jaime Chaves to lead its insurance operations in Mexico and named industry veteran Andrew Kendrick as Non-Executive Chairman of the Board of Directors for Everest Insurance.
