Everest Re Hires Zurich's Kerner to Head Risk-Management Team

  • Doucette promoted to chief executive of reinsurance division
  • John Zaffino will lead North America insurance business

Everest Re Group Ltd. hired Michael Kerner, who previously led Zurich Insurance Group AG’s general-insurance unit, to head the strategy and risk-management team as the Bermuda-based reinsurer reshapes management.

Kerner will be an executive vice president, Everest Re said Wednesday in a statement. He spent 24 years with Zurich and left last year. Everest Re also promoted John Doucette to chief executive officer of the reinsurance division and Jonathan Zaffino to president of the North America insurance division. The three will assume their new roles April 1.

Everest Re Chief Executive Officer Dominic Addesso is building a leadership team amid increased competition from hedge funds and new reinsurers. His firm has gained more than 7 percent since Dec. 31, beating the 79-company Bloomberg World Insurance Index, which has slumped 4.3 percent.

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