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Gallagher served as president and chief operating officer of Everest Re from 1997 until 2008, when he was named vice chairman and chief underwriting officer, the company said in a statement.
Joseph V. Taranto, chairman and chief executive officer, said Gallagher's "many years of guidance have positioned Everest as a global reinsurance leader with operations worldwide."
Everest Re Group Ltd. (NYSE: RE | Quote | Chart | News | PowerRating) provides reinsurance and insurance products in the United States, Bermuda and other international markets. The group's products include property/casualty reinsurance and insurance coverages, including marine, aviation, surety, accident and health, and other specialty products.
Approximately 60% of the group's business is derived from the United States, with the remaining business being derived from international markets, including Bermuda. The group's operations are managed through five business segments: U.S. Reinsurance, U.S. Insurance, International, Specialty Reinsurance and Bermuda, according to an AMB Credit Report.
Everest Re currently has a Best's Financial Strength Rating of A+ (Superior).
In afternoon trading on Sept. 1 shares of Everest Re stock were selling at $84.60, up about 0.34% from the previous close.
(By Chad Hemenway, associate editor, BestWeek: Chad.Hemenway@ambest.com)
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