Everest Reinsurance names new head of UK department and CUO

Everest Reinsurance has introduced the appointment of Mark Wallace (pictured above) as the pinnacle of its UK department and chief underwriting officer, pending regulatory approval.

Wallace, who relies in London, succeeds Paul Tester, who has transitioned to the function of senior vice chairman, govt advisory director, worldwide reinsurance. Tester will preserve his place as head of UK department through the regulatory transition interval.

Earlier than becoming a member of Everest, Wallace spent 10 years at Hiscox plc, the place he served as pricing actuary and head of pricing for transport, power, and recall. He holds a bachelor’s diploma in historical past from Royal Holloway College and is a Fellow of the Institute of Actuaries.

He beforehand held the place of deputy chief underwriting officer and head of lengthy tail at Everest Reinsurance UK. In his new function, Wallace will oversee the technique and underwriting operations of Everest Reinsurance’s UK department. He’ll now report back to Artur Klinger, head of worldwide reinsurance.

“Mark has been instrumental in elevating our UK enterprise and is effectively positioned with in depth world legal responsibility and specialty reinsurance experience and a powerful relationship community to guide our rising enterprise as we proceed to deepen our foothold within the UK market. I wish to thank Paul for his distinctive management over the previous 16 years and sit up for working intently with each of them and our senior workforce to place us for future alternative,” Klinger stated.

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