Everest Names Srini Maddineni Group Chief Information Officer

Rhea-AI Summary

Everest Re Group (NYSE: RE) has announced the appointment of Srini Maddineni as the new Group Chief Information Officer (CIO), effective January 16, 2023. He succeeds Terry Walker, who will retire at the end of Q1 2023. Maddineni brings extensive experience from his previous role as CIO at Chubb and has a strong background in the financial services and insurance sectors. Additionally, Hemal Patel and Arron Lamp have been promoted to Deputy CIO roles, focusing on Corporate Applications and IT Innovation, respectively.

Positive

• Appointment of Srini Maddineni as CIO may enhance Everest's technology strategy.
• Maddineni's extensive experience in the insurance industry supports potential growth and innovation.
• Promotion of IT executives to Deputy CIO positions strengthens leadership in technology.

Negative

• None.

HAMILTON, Bermuda--(BUSINESS WIRE)-- Everest Re Group, Ltd. (NYSE: RE) (“Everest”), global underwriting leader providing best-in-class property, casualty, and specialty reinsurance and insurance solutions, today announced that effective January 16, 2023, Srini Maddineni, Everest’s SVP and Global CIO for Insurance and Reinsurance Systems, will succeed Terry Walker as Group Chief Information Officer (CIO), reporting to Jim Williamson, Everest Group Chief Operating Officer. Walker will retire at the end of the first quarter of 2023.

“Srini is an accomplished executive with significant experience delivering transformative technology capabilities on a global scale,” said Jim Williamson, Everest Group Chief Operating Officer. “He has made a meaningful impact as Global CIO of Reinsurance and Insurance, having led all aspects of systems development across our global businesses. I look forward to collaborating with Srini and his talented team to drive our technology strategy forward.”

Maddineni joined Everest after a successful thirty-year career in the financial services and insurance industries. Prior to joining Everest, Maddineni was CIO of Commercial North America at Chubb, where he led technology for Commercial Insurance, overseeing a team of 650+ global technology professionals. Prior to that, Maddineni held senior technology, applications, and client experience roles at leading global organizations including S&P Global, Bank of New York Mellon, and State Street Corporation.

The Company also promoted two IT executives to Deputy CIO roles. Hemal Patel, Deputy CIO – Corporate Applications & Services will lead Everest’s Corporate Systems, Shared Services and Portfolio Management. Arron Lamp, Deputy CIO – Architecture, Data, and Analytics will lead IT Innovation and Digital Transformation. Both will report to Maddineni and will be responsible for advancing Everest’s long-term technology strategy and goals.

“Today’s increasingly complex risk environment demands cutting-edge technology to help our clients navigate their most pressing challenges,” said Juan C. Andrade, Everest President and CEO. “Terry has built an exceptional technology function and we are grateful for his outstanding contributions over the past several years. I am confident that Srini, along with his best-in-class team, is perfectly suited to advance our global IT capabilities and vision for the future.”

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: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/20230105005942/en/

Media: Dawn Lauer

Chief Communications Officer

908.300.7670

Investors: Matt Rohrmann

Head of Investor Relations

908.604.7343

Source: Everest Re Group, Ltd.

FAQ

Who is the new CIO of Everest Re Group?

Srini Maddineni is the new Group Chief Information Officer of Everest Re Group, effective January 16, 2023.

What position did Terry Walker hold before retiring?

Terry Walker was the Group Chief Information Officer (CIO) before his retirement.

What is the significance of Srini Maddineni's appointment?

His appointment is expected to enhance Everest's technology strategy and drive innovation in the company.

Who were the newly promoted Deputy CIOs at Everest?

Hemal Patel and Arron Lamp were promoted to Deputy CIO roles.

What is Everest Re Group known for?

Everest Re Group is recognized for its property, casualty, and specialty reinsurance and insurance solutions.