Everest Extends Employment Agreement with President and CEO Juan C. Andrade

Rhea-AI Summary

Everest Re Group, Ltd. (NYSE: RE) has extended President and CEO Juan C. Andrade's employment agreement until the end of 2023, with automatic annual extensions thereafter. Chairman Joseph V. Taranto praised Andrade’s leadership over the past 24 months, highlighting progress in positioning the company for long-term growth. Andrade expressed his commitment to continuing the growth agenda and enhancing shareholder value while fostering an inclusive culture. Everest Re operates globally, providing reinsurance and insurance solutions.

Positive

• Extension of Juan C. Andrade's contract demonstrates confidence in his leadership.
• Significant progress made towards long-term profitable growth in the last 24 months.

Negative

• None.

HAMILTON, Bermuda--(BUSINESS WIRE)-- Everest Re Group, Ltd. (“Everest” or the “Company”) (NYSE: RE), a leading global provider of reinsurance and insurance solutions, and its Board of Directors (the “Board”) today announced the extension of President and CEO Juan C. Andrade’s employment agreement through the end of 2023 with automatic annual extensions following this term.

“In the past 24 months as Everest’s CEO, Juan has made exceptional progress positioning the company for long-term profitable growth,” said Joseph V. Taranto, Everest Chairman. “On behalf of the entire Board, we have the utmost confidence in Juan’s ability to lead Everest through its next phase of evolution and success.”

"I am honored to continue leading Everest into the future alongside a world-class management team and with the ongoing support of our Board of Directors,” said Juan C. Andrade, President & CEO. “Together with our outstanding team around the world, we are profitably growing our Company. I am excited to advance Everest’s strategic growth agenda to deliver even greater value for our shareholders and clients, while fostering a vibrant and inclusive culture for our employees.”

About Everest Re Group, Ltd.

Everest Re Group, Ltd. (“Everest”) is a leading global provider of reinsurance and insurance, operating for close to 50 years through subsidiaries in the U.S., Europe, Singapore, Canada, Bermuda and other territories.

Everest offers property, casualty, and specialty products through its various operating affiliates located in key markets around the world.

Everest common stock (NYSE:RE) 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.everestre.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20211217005239/en/

Media: Dawn Lauer

Chief Communications Officer

Everest Global Services, Inc.

908.300.7670

Investors: Jon Levenson

Head of Investor Relations

Everest Global Services, Inc.

908.604.3169

Source: Everest Re Group, Ltd.

FAQ

What does the extension of Juan C. Andrade's contract mean for Everest Re Group (NYSE: RE)?

The extension signifies the Board's confidence in Andrade's leadership and the company's direction towards long-term growth.

How long is the new employment agreement for Juan C. Andrade at Everest Re Group (NYSE: RE)?

Juan C. Andrade's employment agreement is extended through the end of 2023 with automatic annual extensions thereafter.

What has been the impact of Juan C. Andrade's leadership on Everest Re Group (NYSE: RE) in the last two years?

Under Andrade's leadership, Everest Re Group has made significant progress in positioning itself for long-term profitable growth.