Everest Group has named Craig Hanrahan (pictured) as global distribution and chief commercial officer, effective August 1, 2026, in an appointment that carries specific commercial timing. Average commercial P&C premiums across all account sizes fell 1.2% in Q1 2026, the first broad-based decline since 2017 and the end of a 33-quarter streak of increases, with 72% of brokers reporting increased property underwriting capacity, per the Council of Insurance Agents & Brokers' Commercial P&C Market Index. On the reinsurance side, global reinsurance capital reached a record US$785 billion at end of 2025 per Aon, while Guy Carpenter's property catastrophe rate-on-line index fell 12% at the January 2026 renewals, giving cedants considerably more negotiating leverage than in the recent hard market. When both the insurance and reinsurance sides of a combined group face softening simultaneously, distribution and broker relationships become the primary competitive differentiator - which is precisely what Hanrahan's newly expanded global mandate is designed to address.

Hanrahan will report directly to Everest president and CEO Jim Williamson and serve as a member of the executive leadership team, leading Everest's global distribution strategy and key commercial relationships across its insurance and reinsurance businesses.

A rapid progression in 18 months

Hanrahan joined Everest in 2024 as Northeast Regional executive officer - a relatively contained entry point - and has since moved through head of North America field operations, leading the company's four US retail regions across underwriting, service, claims and distribution, and most recently head of US Retail Insurance, overseeing the commercial property, casualty, financial lines and industry practice solutions portfolio. The progression to global distribution and CCO in approximately 18 months signals that Williamson has identified Hanrahan as a specific strategic asset rather than filling a vacancy in the conventional succession sense.

Williamson described Hanrahan as a respected leader with deep market relationships and a proven track record of delivering results, adding that his collaborative approach and industry experience position him to deepen broker partnerships and advance Everest's disciplined growth strategy across the global insurance and reinsurance marketplace.

The turnaround Hanrahan is building on

Williamson was named Everest's acting CEO in January 2025 following Juan Andrade's departure and confirmed in the permanent role shortly after - a 20-year industry veteran with prior senior roles at The Hartford, Chubb and ACE. The 18 months since have produced a sharp improvement in underwriting results: Q1 2026 net income reached US$653 million, up from US$210 million in the same period a year earlier. Everest has also moved to streamline its international footprint, agreeing in May 2026 to sell its Colombia insurance operations to AIG.

The market conditions Hanrahan steps into add urgency to that improvement. AM Best data cited in the CIAB report shows the commercial property loss ratio improving from 87.9% at end 2024 to 85% at end 2025 even after significant catastrophe activity - a sector-level tailwind. Commercial auto has bucked the broader softening trend, posting its 59th consecutive quarterly premium increase. But across most commercial lines and in reinsurance, the direction of travel is toward more competitive pricing and more available capacity, making the quality of distribution relationships a more decisive factor in Everest's next phase than it was during the hard market years when capacity itself was the differentiator.