Everest Group, Ltd 8-K, filed Mar 27, 2023
Everest Group, Ltd. (EG)
8-K
2023-03-27
For: 2023-03-10
View Original
Added on
April 08, 2026
About this 8-K
Everest Group, Ltd filed this 8-K on March 27, 2023, reporting on events of March 10, 2023.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
Current Report Pursuant to Section 13 OR 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
(Exact name of registrant as specified in its charter)
(State or other jurisdiction
(Commission
(IRS Employer
of incorporation)
File Number)
Identification No.)
,
Not Applicable
(Address of principal executive offices)
(Zip Code)
Registrant’s telephone number, including area code
-
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (see General Instruction A.2. below):
Securities registered pursuant to Section 12(b) of the Act:
Class
Trading Symbol(s)
Name of Exchange where registered
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of
1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 12(a) of the Exchange Act.
☐
ITEM 5.02
DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS;
APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF
CERTAIN OFFICERS.
Sanjoy Mukherjee, Executive Vice President, General Counsel, and Secretary of Everest Re Group, Ltd. (the
“Company”), will be leaving the Company to pursue other opportunities effective as of April 21, 2023. Subject to the
terms of the transition agreement entered into by Mr. Mukherjee and the Company dated March 10, 2023 (the
“Transition Agreement”), he will also serve as an advisor to the Company from April 22, 2023 through July 3, 2023
(the “Separation Date”) and, for such services, he will receive a one-time payment of $50,000. Subject to the terms of
Mr. Mukherjee’s employment agreement (as reported in the Company’s Proxy Statement for its 2022 annual general
meeting of shareholders and filed as Exhibit 10.19 to the Company’s Annual Report on Form 10-K for the year ended
December 31, 2022) and the Transition Agreement, Mr. Mukherjee will receive accrued payments, vesting of equity
awards, insurance benefits and a separation allowance in accordance with the terms of his employment agreement, a
one-time payment of two years of his base annual salary payable in January 2025, and a cash payment in lieu of a
tranche of six hundred and one (601) restricted shares that would otherwise have vested on November 19, 2024 (based
on the market price of the Company’s stock at the close of the New York Stock Exchange on the Separation Date).
Brent Hoffman has been appointed Interim General Counsel. The Company will be conducting a search for Mr.
Mukherjee’s permanent replacement.
A copy of the related press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and incorporated
herein by reference.
ITEM 9.01
FINANCIAL STATEMENTS AND EXHIBITS
(c)
Exhibits
Exhibit No.
Description
99.1
News Release of the registrant,
dated March 14, 2023
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned hereunto duly authorized.
EVEREST RE GROUP, LTD.
By:
/S/ ROBERT J. FREILING
Robert J. Freiling
Senior Vice President and
Chief Accounting Officer
Dated: March 27, 2023
EXHIBIT INDEX
Exhibit
Number
Description of Document
Page No.
5
104
Cover Page Interactive Data File (embedded
within the Inline XBRL document
1
NEWS RELEASE
EVEREST RE GROUP, LTD.
Seon place, 141 Front Street, 4
th
Contacts
Media: Dawn Lauer Investors: Matt Rohrmann
Chief Communications Officer Head of Investor Relations
908.300.7670 908.604.7343
Everest Appoints Brent Hoffman as Interim General Counsel; Announces the
Departure of Sanjoy Mukherjee
HAMILTON, Bermuda -- (BUSINESS WIRE) – March 14, 2023
(“Everest”) (NYSE: RE), a global underwriting leader providing best-in-class property, casualty,
and specialty reinsurance and insurance solutions, today announced that Brent Hoffman has been
appointed interim General Counsel, replacing Sanjoy Mukherjee who will be leaving the Company
to pursue other opportunities effective April 21, 2023. The Company will be conducting a search
for Mr. Mukherjee’s permanent replacement.
Mr. Hoffman brings more than 25 years of extensive legal and industry experience to the role.
Prior to joining Everest, he served in several senior claims and legal positions at major global
(re)insurance organizations and private practice, recently as AXA XL’s Chief Claims Officer,
where he led the company’s global claims strategy and operations across multiple business lines
and geographies. He also served as General Counsel – Global Claims, where he led AXA XL’s in-
house legal team supporting all aspects of the company’s global claims operations. Additionally,
Mr. Hoffman held senior leadership positions at The Hartford Financial Services Group, Inc.,
overseeing claims, litigation, and settlement strategies. He received his Bachelor of Arts from
Gettysburg College and a Juris Doctor from The Dickinson School of Law.
“We are grateful for Sanjoy’s years of service to Everest and wish him all the best in his future
endeavors,” said Juan C. Andrade, Everest’s President and CEO. “We welcome Brent to lead our
strong legal team in the interim. His deep understanding of our business, proven leadership and
industry acumen make him well suited for the role. I look forward to working closely with Brent as
we continue to position Everest for future opportunity.”
After his departure on April 21, Mr. Mukherjee will remain available as an advisor to Everest to
assist in the transition into July 2023.
In addition to his role as interim General Counsel of Everest, Mr. Hoffman will retain his position
as Head of Claims and Chief Operations Officer for the Company’s Reinsurance busi ness.
About Everest
2
Everest is a global underwriting leader providing best -in-class property, casualty, and specialty
reinsurance and insurance solutions that address customers’ most pressing challenges. Known for a
50-year track record of disciplined underwriting, capital and risk management, Everest, through its
global operating affiliates, is committed to underwriting opportunity for colleagues, customers,
shareholders, and communities worldwide.
Everest common stock (NYSE: RE) is a component of the S&P 500 index.
Additional information about Everest, our people, and our products can be found on our website at
www.everestre.com.