Everest Group has appointed Gary Haase (pictured above) as executive vice president and CEO of legacy operations, effective December 1.
Haase will report to Jim Williamson, Everest’s president and CEO, and will join the company’s executive leadership team.
Haase has more than 20 years of experience in insurance, reinsurance, and financial services. Most recently, he served as executive advisor to private equity and technology firms, focusing on insurance M&A and artificial intelligence transformation.
Earlier in his career, Haase spent over a decade at Catalina Holdings (Bermuda) Ltd., where he rose to group COO and led the company’s global run-off and operational strategies. He began his career in actuarial and reinsurance positions at Quanta U.S. Holdings and Aon Benfield.
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.
Read more: Growth in the run-off sector continues
The move comes after Everest’s US$2 billion renewal rights sale of its commercial retail insurance business to AIG. The transaction is part of Everest’s strategy to focus on its core global businesses. Haase will oversee the strategy and execution of Everest’s legacy insurance portfolios, with a mandate to drive capital efficiency and operational discipline.
“Gary’s broad and diverse experience – from actuarial and claims to M&A and technology transformation – makes him uniquely qualified for this role and an exceptional addition to our senior team,” Williamson said.
Haase’s appointment comes at a time when the legacy and runoff sector is seeing notable growth, particularly in Bermuda. Industry observers have pointed to Bermuda’s increasing transaction volume and its continued role as a leading jurisdiction for legacy deals.
The island’s regulatory framework and expertise in complex runoff transactions have made it a preferred destination for insurers and reinsurers managing legacy liabilities. This trend is expected to continue, with Bermuda remaining a focal point for companies seeking to optimize their balance sheets and redeploy capital.
The expansion of Everest’s legacy operations also reflects broader changes in the reinsurance sector, where US-based insurers and reinsurers are increasingly leveraging offshore platforms to access global capital and support growth.
According to recent analysis, these offshore structures are providing companies with greater flexibility in managing risk and capital requirements. As the US reinsurance market evolves, the use of offshore platforms is expected to play a significant role in how firms pursue new business opportunities and enhance operational efficiency.
