People Moves: Everest Promotes 2 Senior Leaders in Reinsurance Division; CFC Hires 2 for New Specialist Team Focused on M&A Tax Risks

This edition of International People Moves details appointments at re/insurer Everest Group and the managing general agent CFC.

A summary of these new hires follows here.

Everest Promotes 2 Senior Leaders in Reinsurance Division

Everest Group Ltd., the global property, casualty, and specialty re/insurer, announced the promotion of two key leaders in the Reinsurance Division, both effective immediately.

Jill Beggs has been promoted to Reinsurance executive vice president and chief operating officer of the division. In this role, Beggs will manage the profitable growth of the division’s worldwide portfolio, including global treaty, facultative, and specialty reinsurance businesses as well as Mt. Logan. She will continue to report to Jim Williamson, Everest Group chief operating officer and head of Reinsurance.

Everest also announced that Jiten Voralia has been promoted to head of North America Treaty Reinsurance, where he will lead the division’s treaty reinsurance business across the United States, Bermuda and Canada, reporting to Beggs. Voralia will continue leading the division’s North America treaty casualty business until a successor is named.

Since rejoining Everest in 2021 where she spent the first decade of her underwriting career, Beggs most recently served as head of North America Treaty and Global Specialty Reinsurance, where she drove the portfolio’s profitable expansion and key global growth initiatives. Beggs joined Everest from Munich Re where she spent more than two decades leading US treaty and facultative programs across multiple lines of business, while spearheading various firm-wide innovation initiatives.

Voralia joined Everest in 2022 as reinsurance head of Treaty Casualty & Surety, bringing more than two decades of diverse reinsurance experience to his role. Prior to Everest, Voralia served in various domestic and global leadership roles at Swiss Re, most recently as head of U.S. Globals Casualty Treaty Underwriting.

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CFC Hires 2 for New Specialist Team Focused on M&A Tax Risks

CFC, the specialist managing general agent, announced the creation of a dedicated team to focus on underwriting tax risks as part of its growing transaction liability practice.

The team will be led by Alejandra Hernandez Irizarry, based in London, and Courtney Alonzo, based in New York.

CFC’s tax underwriting team will focus on tax risks connected to M&A transactions including renewable energy tax credits, tax treaty risks, stamp duty risks, restructuring and reorganization risks, EU Parent-Subsidiary Directive risks, tax residency issues, US inversion risks, US successor or transferee liability risks and demerger tax risks, among other areas relating to corporate transactions.

Hernandez joined CFC from an international accounting firm, where she worked as a US international tax consultant primarily advising alternative investment clients on cross-border transactions.

Alonzo previously worked as a US international tax consultant advising asset management clients on cross-border matters, including reorganisations and fund structuring, investment and business activity review, global footprint and treaty qualifications.

“In today’s complex business landscape, mitigating tax-related risks in transactions is more crucial than ever. So much so, that 2023 has proven to be a record year for tax insurance,” said Angus Marshall, head of Transaction Liability at CFC. “Our dedicated tax team will redefine the industry by combining a pragmatic and commercial approach to evaluating and underwriting tax risks, whilst looking to leverage our market leading tech platform to deliver scalable tax insurance solutions to our broker partners and clients.”

Headquartered in London with offices in New York, San Francisco, Austin, Brussels and Brisbane, CFC has more than 875 employees, underwriting for 130,000 businesses in 90 countries.

Topics Mergers & Acquisitions Liability Leadership Reinsurance