Everest Reinsurance, the reinsurance arm of Everest Re Group, has announced two new appointments for its regional Everest Reinsurance Canada unit.
Scott Paddington has been promoted to the role of chief agent and chief underwriting officer of Everest Reinsurance Canada. He will oversee the operations of Everest's reinsurance business in Canada.
Paddington first joined Everest in 2010, and has successfully led the growth and profitability of the company’s portfolio. Before joining Everest, he was a financial advisor at Nesbitt Burns – a role he previously held at Empyrean and Guy Carpenter Canada. He has also held similar roles at various Canadian banks. Paddington has an MBA from Schulich School of Business and an honours bachelor of commerce from Lakehead University.
In addition, Everest Re has appointed Russ Lewis to the newly created role of chairman of Everest Reinsurance Canada. As chairman, he will represent Everest in the market and serve the company’s clients and broker partners, while providing strategic direction to the Canadian executive team. He is a veteran of Everest, having cultivated a 30-year career with the company and helped grow its Canadian operations. Lewis has an undergraduate degree from the University of Waterloo.
A release noted that both Paddington and Lewis will report to Everest head of North America reinsurance Jill Beggs.
"Everest's leadership in the global reinsurance market can be credited to its exceptional team of talent. Scott's diverse banking, broker and financial advising background, coupled with his tenure at Everest uniquely positions him to drive the Everest reinsurance business forward," commented Beggs. "We are also looking forward to working closely with Russ in this new strategic role. Russ has been an integral part of our Canada operation expansion and establishing Everest as the market leader we are today."
For 2021, Everest Re posted US$1.38 billion in net income – significantly higher than its US$514.1 million in 2020. Its net operating income also increased from US$300.1 million in 2020 to US$1.15 billion in 2021.
