A former Chubb executive is slated to become Everest Re Group’s new leader by early 2020.

Juan Andrade is initially joining the Bermuda-based reinsurer as chief operating officer on Sept. 1, 2019. He’ll take over as president and CEO on Jan. 1, 2020, replacing Dominic Addesso, who announced earlier this year his plans to retire at the end of 2019.

Andrade, a 25-year insurance industry veteran, has experience leading large and complex domestic and international businesses, Everest Re noted in its deal announcement. He also has previous leadership stints involving underwriting, product development and innovation, claims, sales and distribution, strategy development, and general management.

Most recently, Andrade was an executive vice president and president, Overseas General Insurance at Chubb Group. While there, Andrade was responsible for Chubb’s general insurance business in over 50 countries outside of North America, including commercial P/C, traditional and specialty personal lines, and accident and health insurance.

Before ACE’s acquisition of Chubb in January 2016, Andrade was an executive vice president, of ACE and the chief operating officer for ACE Overseas General with both U.S. and international responsibilities.

Everest Re added that Andrade also has extensive experience in the United States, Europe, Asia Pacific, Japan, Latin America and Africa, as well as the London wholesale market and Lloyd’s.

(Related: Ortega Becomes New Head of Chubb’s Overseas General Insurance Division)

Before the start of his insurance career, Andrade developed national security and international affairs experience working for the U.S. federal government’s executive branch and office of the president.

In prepared remarks, Everest Re Board Chairman Joe Taranto noted Andrade’s strengths.

“The board is incredibly excited to have an executive with [Andrade’s] strength, skillset and experience to chart our plan for success into the future,” Taranto said.

Taranto said Addesso’s accomplishments running the company will help Everest Re grow and strategically diversify.

Addesso “has positioned us exceedingly well for continued success,” Taranto said in prepared remarks.

Source: Everest Re

Topics USA Chubb