Everest Group has appointed Michael Cellura (pictured above, left) as head of its facultative & hybrid reinsurance business, the company has announced.
Trevor Gallagher (pictured above, right) has also been named to the newly created role of chief operating officer for the same unit.
Both appointments are part of the company's Global Wholesale & Specialty platform. Cellura will report to Jason Keen, executive vice president and CEO of Global Wholesale & Specialty Insurance.
The facultative reinsurance market allows insurers to seek coverage for individual risks on a case-by-case basis, as opposed to treaty reinsurance, which covers a portfolio of risks. Hybrid structures combine elements of both approaches.
In his new position, Cellura will oversee the company's global facultative and hybrid reinsurance operations. His responsibilities include underwriting strategy, portfolio management, and regional alignment across the business.
Cellura joined the New York-based reinsurer in 2022. He has held leadership positions across multiple areas of the organization since then.
Gallagher, who will report to Cellura, joined Everest in 2023. He has been involved in building operational processes and supporting the development of the Facultative & Hybrid Reinsurance platform.
As COO, Gallagher will handle operational execution and platform optimization. His role will focus on supporting the scale and performance of the global business.
Keen said both executives bring experience and strategic focus to their new roles.
"Facultative & Hybrid Reinsurance is central to our strategy, enabling us to provide flexible underwriting and differentiated solutions for complex risks," Keen said. He added that the unit would continue to prioritize disciplined underwriting, execution, and collaboration with brokers and clients worldwide.
The appointments are part of a broader leadership refresh at Everest. Earlier this month, the company named Christopher Kujawa as executive vice president and chief human resources officer, effective Jan. 20.
Kujawa previously served as chief human resources officer at Conduent, where he oversaw the company's global HR function and was involved in redesigning its HR operating model during a period of organizational change.
