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Everen Group Promotes Karyn Peixoto to Chief HR Officer

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Everen Group Promotes Karyn Peixoto to Chief HR Officer
News

News

Everen Group Promotes Karyn Peixoto to Chief HR Officer

2025-04-01 01:00 Last Updated At:01:10

HAMILTON, Bermuda--(BUSINESS WIRE)--Mar 31, 2025--

The Everen Group is pleased to announce the promotion of Karyn Peixoto to the role of Senior Vice President, Chief Human Resources Officer, based in the Bermuda office, effective April 1, 2025.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250331475520/en/

Since joining the Everen Group in December 2022 as VP HR & Administration, Karyn has been instrumental in shaping the Group’s people strategies, building a strong company culture, and leading initiatives to attract, develop, and retain top talent.

In her expanded role as part of the Executive Leadership Team, Ms. Peixoto will continue to lead the company’s HR function with a focus on aligning people strategies with the Group’s business objectives, working with the Executive Leadership Team to develop and deliver strategic initiatives, driving employee engagement, and fostering a high-performing workplace.

Commenting on her promotion, Robert Foskey, President & CEO of the Everen Group, said: “Karyn’s promotion is a well-earned recognition of her leadership and significant contributions to the Group, positioning us well for long-term success in the energy insurance market.

“Her considerable experience, together with her sound judgment and leadership skills, have been pivotal in building a strong team at the Everen Group. She brings a strategic mindset and tremendous energy to her role, as well as a deep commitment to creating a positive work environment for our employees.”

About Everen Group:

The Everen Group – a group of leading energy insurance companies based in Bermuda – includes two distinct operating companies providing complementary products: Everen and Everen Specialty. Everen is the largest energy insurance mutual company in the world, operating for over 50 years and acting as a pure mutual owned by its member shareholders. Its underwriting is 100% supported by its own balance sheet with no third-party capital and it offers up to $450 million of per occurrence limits. Everen Specialty is an industry owned commercial (re)insurer offering property and casualty insurance and reinsurance for members and non-members. Everen Specialty also has a subsidiary, OCIL Specialty, Ltd (OSL), writing U.S. surplus lines business through OSL Insurance Services (OISI), a managing general agent based in Houston, Texas.

For further information about the Everen Group, please visit www.everengroup.bm

Karyn Peixoto, Everen Group

Karyn Peixoto, Everen Group

BANGKOK (AP) — Asian shares nosedived on Monday after the meltdown Friday on Wall Street over U.S. President Donald Trump's tariff hikes and the backlash from Beijing.

U.S. futures also signaled further weakness. The future for the S&P 500 lost 4.2% while that for the Dow Jones Industrial Average shed 3.5%. The future for the Nasdaq lost 5.3%.

Tokyo’s Nikkei 225 index lost nearly 8% shortly after the market opened and Australia’s S&P/ASX 200 tumbled more than 6%.

South Korea’s Kospi lost 4.4%.

Oil prices sank further, with U.S. benchmark crude down 4%, or $2.50, at $59.49 per barrel. Brent crude, the international standard, gave up $2.25 to $63.33 a barrel.

On Friday, Wall Street’s worst crisis since COVID slammed into a higher gear. The S&P 500 plummeted 6% and the Dow plunged 5.5%. The Nasdaq composite dropped 5.8%.

The losses came after China matched President Donald Trump’s big raise in tariffs announced last week, upping the stakes in a trade war that could end with a recession that hurts everyone. Even a better-than-expected report on the U.S. job market, usually the economic highlight of each month, wasn't enough to stop the slide.

So far there have been few, if any, winners in financial markets from the trade war. Stocks for all but 14 of the 500 companies within the S&P 500 index fell Friday. The price of crude oil tumbled to its lowest level since 2021. Other basic building blocks for economic growth, such as copper, also saw prices slide on worries the trade war will weaken the global economy.

China’s response to U.S. tariffs caused an immediate acceleration of losses in markets worldwide. The Commerce Ministry in Beijing said it would respond to the 34% tariffs imposed by the U.S. on imports from China with its own 34% tariff on imports of all U.S. products beginning April 10, among other measures.

The United States and China are the world’s two largest economies.

The central question looking ahead is: Will the trade war cause a global recession? If it does, stock prices may need to come down even more than they have already. The S&P 500 is down 17.4% from its record set in February.

Trump seemed unfazed. From Mar-a-Lago, his private club in Florida, he headed to his golf course a few miles away after writing on social media that “THIS IS A GREAT TIME TO GET RICH.”

The Federal Reserve could cushion the blow of tariffs on the economy by cutting interest rates, which can encourage companies and households to borrow and spend. But the Fed may have less freedom to move than it would like.

Fed Chair Jerome Powell said Friday that tariffs could drive up expectations for inflation and lower rates could fuel still more price increases.

“Our obligation is to keep longer-term inflation expectations well anchored and to make certain that a one-time increase in the price level does not become an ongoing inflation problem,” Powell said.

Much will depend on how long Trump’s tariffs stick and what kind of retaliations other countries deliver. Some of Wall Street is holding onto hope that Trump will lower the tariffs after prying “wins” from other countries following negotiations.

Trump has said Americans may feel “some pain” because of tariffs, but he has also said the long-term goals, including getting more manufacturing jobs back to the United States, are worth it.

On Wall Street, stocks of companies that do lots of business in China fell to some of the sharpest losses.

DuPont dropped 12.7% after China said its regulators are launching an anti-trust investigation into DuPont China group, a subsidiary of the chemical giant. It’s one of several measures targeting American companies and in retaliation for the U.S. tariffs.

GE Healthcare got 12% of its revenue last year from the China region, and it fell 16%.

In the bond market, Treasury yields fell, but they pared their drops following Powell’s cautious statements about inflation. The yield on the 10-year Treasury fell to 4.01% from 4.06% late Thursday and from roughly 4.80% early this year. It had gone below 3.90% in the morning.

US President Donald Trump appears on a television screen at the stock market in Frankfurt, Germany, Thursday, April 3, 2025. (AP Photo/Michael Probst)

US President Donald Trump appears on a television screen at the stock market in Frankfurt, Germany, Thursday, April 3, 2025. (AP Photo/Michael Probst)

A screen displays financial news as traders work on the floor at the New York Stock Exchange in New York, Thursday, April 3, 2025. (AP Photo/Seth Wenig)

A screen displays financial news as traders work on the floor at the New York Stock Exchange in New York, Thursday, April 3, 2025. (AP Photo/Seth Wenig)

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