Everest Reinsurance names new head of UK department and CUO

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

Wallace, who is predicated in London, succeeds Paul Tester, who has transitioned to the position of senior vice chairman, government advisory director, worldwide reinsurance. Tester will preserve his place as head of UK department throughout 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, vitality, 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 position, 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 properly positioned with intensive international legal responsibility and specialty reinsurance experience and a robust relationship community to steer 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 staff to place us for future alternative,” Klinger stated.

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