Everest Group has appointed Craig Hanrahan as its new global distribution and chief commercial officer, with the appointment taking effect on August 1, 2026. The move comes at a significant point for the insurance market as commercial pricing and reinsurance conditions continue to shift.
Recent market data highlights the changing landscape. According to the Council of Insurance Agents & Brokers (CIAB), average commercial property and casualty (P&C) insurance premiums declined by 1.2% in the first quarter of 2026, marking the first broad-based decrease since 2017 after 33 consecutive quarters of premium increases. The report also found that 72% of brokers experienced greater property underwriting capacity. In the reinsurance sector, Aon reported that global reinsurance capital reached a record US$785 billion at the end of 2025, while Guy Carpenter’s property catastrophe rate-on-line index declined by 12% during the January 2026 renewals. As pricing softens and capacity increases across both insurance and reinsurance markets, maintaining strong broker relationships and an effective distribution strategy is becoming increasingly important.
Hanrahan will report directly to Everest president and CEO Jim Williamson and will join the company’s executive leadership team. In his expanded position, he will oversee Everest’s global distribution strategy while managing key commercial relationships across both its insurance and reinsurance operations.
Career progression at Everest
Since joining Everest in 2024 as Northeast regional executive officer, Hanrahan has advanced rapidly through several senior leadership roles. He later became head of North America field operations, where he oversaw the company’s four U.S. retail regions, managing underwriting, claims, service, and distribution functions. Most recently, he served as head of U.S. Retail Insurance, leading the commercial property, casualty, financial lines, and industry practice solutions portfolio.
His promotion to a global commercial leadership position within approximately 18 months reflects the company’s confidence in his strategic leadership and his ability to support Everest’s long-term growth objectives.
Williamson described Hanrahan as a highly respected industry leader with strong market relationships and a consistent record of delivering results. He said Hanrahan’s collaborative leadership style and extensive industry experience will help strengthen broker partnerships while supporting Everest’s disciplined global growth strategy across both insurance and reinsurance businesses.
Building on Everest’s recent progress
Hanrahan assumes the new role as Everest continues to strengthen its financial performance and reshape parts of its international business.
Williamson became acting CEO in January 2025 following the departure of Juan Andrade and was later confirmed as the company’s permanent chief executive. A veteran of the insurance industry with previous leadership roles at The Hartford, Chubb, and ACE, Williamson has overseen significant operational improvements during his tenure.
Everest reported first-quarter 2026 net income of US$653 million, a substantial increase from US$210 million during the same period in 2025. The company has also streamlined its international operations, announcing in May 2026 an agreement to sell its Colombia insurance business to AIG.
Industry trends further highlight the importance of Hanrahan’s expanded responsibilities. Data from AM Best, cited in the CIAB report, showed the commercial property loss ratio improving from 87.9% at the end of 2024 to 85% by the end of 2025 despite significant catastrophe losses. Commercial auto insurance remained an exception to broader market trends, recording its 59th consecutive quarterly premium increase. However, most commercial insurance lines and the reinsurance market are experiencing softer pricing and greater underwriting capacity, making strong distribution networks and broker relationships increasingly critical to maintaining competitive advantage.
