Everest Group’s insurance unit Everest Insurance has named Melissa McDermott as the global chief actuary for the business.

McDermott will report to Everest Insurance president and CEO Mike Karmilowicz in the new role.

In the new position, McDermott will work with the actuarial, underwriting, and claims teams in the company’s insurance business and the reserving teams.

Commenting on the new appointment, Karmilowicz said: “Melissa is a recognised leader in the actuarial world, known for shaping complex, global pricing and reserving strategies that drive profitable growth. 

“She is a strategic, trusted partner to underwriters, business leaders and brokers industry-wide and I am thrilled Melissa is here to support the continued success of our insurance portfolio at a time of ongoing growth and expansion.”

McDermott has nearly 30 years of experience in managing international teams and actuarial operations across the property and casualty sector. 

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By GlobalData

Prior to joining Everest, she held the position of chief actuary for AIG’s North America General Insurance business.

In that role, McDermott oversaw the pricing, reserving and portfolio management operations of various business lines. 

Before her stint at AIG, McDermott served as insurance pricing global speciality head at AXA XL

The latest development comes after Everest appointed Charlie Higham as the new senior vice president and head of Everest Underwriting Partners, an underwriting unit of the company.

He will oversee all programme administrator and digital distribution collaborations in the new role. Higham succeeds Brian Drum, who is slated to retire from the role on 1 September 2023.