Everest Re Group, a Bermuda-based property and casualty reinsurance and insurance firm, has announced that its chief executive officer, Joseph Taranto has agreed to continue his role through 2013.

According to the company, Taranto will be succeeded by its president Dominic Addesso, effective from 01 January 2014.

Taranto said: ”I am pleased to continue to lead our team through next year and that Dom will assume the helm and lead our team for many years thereafter.”

Commenting about Addesso, Taranto said, ”Dom is an extraordinarily capable, experienced, and ethical executive. Our Company has never been stronger and the future has never been brighter.”

Everest Re Group, through its subsidiaries, is primarily engaged in the underwriting of reinsurance and insurance in the Bermuda, US and international markets.