Everest Group appoints new board member Darryl Page

HAMILTON, Bermuda - Everest Group, Ltd. (NYSE: EG), a prominent player in global underwriting with a market capitalization of $14.8 billion, has announced the appointment of Darryl Page as an independent, non-executive member of its Board of Directors. Page, a seasoned insurance executive with over 40 years of industry experience, joins Everest with a substantial track record from his time at Chubb and other leading insurers. According to InvestingPro analysis, the company maintains a GOOD financial health score, reflecting its strong market position.

During his tenure at Chubb, Page held the role of Division President of International Personal Lines, overseeing a profitable portfolio and expansion efforts across 52 countries. His strategic leadership in agency distribution at Chubb Overseas General contributed to significant growth. His previous roles include President of Personal Insurance at Fireman’s Fund and various executive positions at Allstate. Page also currently engages in academia as a Trustee, Treasurer, and Chair-Elect at the Board of Dominican University of California.

John Graf, the newly approved Chairman of Everest, remarked on Page’s appointment, highlighting his extensive experience in scaling profitable insurance operations globally and his ability to foster high-performing corporate cultures. This addition to the board is expected to support Everest’s strategic value creation initiatives.

Everest, known for its disciplined approach to underwriting, capital, and risk management, has been a fixture in the insurance and reinsurance industry for over half a century. The company operates worldwide, aiming to provide top-tier solutions to the challenges faced by its clients. Everest’s common stock is listed on the New York Stock Exchange and is part of the S&P 500 index.

This board appointment is based on a press release statement and reflects Everest’s ongoing commitment to leadership and expertise to guide its future endeavors.

In other recent news, Everest Group reported its first-quarter 2025 earnings, which fell short of expectations from Raymond James and the broader market consensus. The company’s reinsurance and insurance segments had higher-than-anticipated combined ratios, contributing to the underwhelming results. Despite this, Raymond James maintained a Strong Buy rating, although it adjusted the price target from $420 to $410. Meanwhile, Jefferies upgraded Everest Group’s stock from Hold to Buy, raising the price target to $415, citing the stock’s favorable risk/reward scenario.

In leadership developments, Everest Group announced that Joseph V. Taranto will retire as Chairman in May 2025, with John Graf nominated to succeed him. The company’s recent Annual General Meeting saw the re-election of nine directors and the approval of a new employee stock purchase plan. Additionally, Keefe, Bruyette & Woods maintained an Outperform rating on Everest Group, with a price target of $434. Analysts at Keefe noted that the company’s reserves were likely overstated, suggesting minimal need for near-term reserve strengthening. These developments reflect a period of strategic adjustments and leadership transitions for Everest Group.

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