Everest Group appoints Gary Haase as EVP and CEO of legacy operations

HAMILTON, Bermuda - Everest Group, Ltd. (NYSE:EG) has appointed Gary Haase as Executive Vice President and CEO of Legacy Operations, effective December 1, 2025, according to a company press release. The insurance giant, currently trading at $320.33 with a market capitalization of $13.44 billion, continues to evolve its leadership team amid challenging market conditions.

Haase will report to Jim Williamson, Everest's President and CEO, and join the company's Executive Leadership Team. The appointment follows Everest's recent $2 billion renewal rights sale of its commercial retail insurance business to AIG, which the company described as a strategic step to refocus on its core global businesses. InvestingPro data shows Everest has maintained dividend payments for 31 consecutive years, demonstrating long-term financial stability despite strategic shifts.

In his new role, Haase will lead strategy and execution for Everest's legacy insurance portfolios, with responsibilities for capital efficiency and operational discipline.

Haase brings over 20 years of experience across insurance, reinsurance, and financial services. Most recently, he served as Executive Advisor to private equity and technology firms. Previously, he was EVP and COO at CNA Financial Corporation, where he led enterprise technology and operations. Before CNA, Haase spent more than a decade with Catalina Holdings (Bermuda) Ltd., rising to Group COO.

"Gary's broad and diverse experience makes him uniquely qualified for this role and an exceptional addition to our senior team," said Williamson in the statement.

Haase is a Fellow of the Casualty Actuarial Society and holds an MBA in Quantitative Finance and General Management from NYU's Stern School of Business, where he also served as an Adjunct Associate Professor of Statistics.

Everest Group provides property, casualty, and specialty reinsurance and insurance solutions. The company's common stock is a component of the S&P 500 index.

In other recent news, Everest Group reported its third-quarter 2025 earnings, which showed a significant shortfall compared to forecasts. The company's earnings per share (EPS) stood at $7.54, falling short of the expected $14.31, while revenue was reported at $4.32 billion, below the anticipated $4.45 billion. Following the earnings release, Wolfe Research upgraded Everest Group's stock rating from Underperform to Peerperform, despite the company's reserving actions of $539 million related to North American Casualty Insurance. Meanwhile, Raymond James lowered its price target for Everest Group to $350.00 from $375.00, maintaining an Outperform rating due to a cautious outlook on growth. Similarly, Keefe, Bruyette & Woods adjusted their price target to $400.00 from $424.00, aligning with their updated year-end 2025 estimated book value per share. Additionally, Everest Group declared a dividend of $2.00 per share, payable on or before December 12, 2025, to shareholders of record as of November 26, 2025. These recent developments highlight the company's ongoing strategic adjustments and financial performance.

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