Everen Group names James Peniston as Chief Investment Officer

The Everen Group, a consortium of energy insurance companies based in Bermuda, has announced the appointment of James Peniston as its new Chief Investment Officer, effective April 1, 2025.

This appointment follows the retirement of Ricky Lines and is part of a well-established succession plan.

Peniston joined the Everen Group as Deputy Chief Investment Officer in September 2023, where he has already demonstrated his extensive expertise and strong leadership.

Before joining Everen, he was Portfolio Manager of Structured Credit at Arch Capital and held previous roles at Enstar and Anchor Investment Management.

Peniston is a graduate of the University of Vermont, earned his MBA from the IESE Business School, and is a CFA Charterholder.

Ricky Lines has been a pivotal figure at Everen Group since 2006, when he joined the Executive Leadership Team as Chief Financial Officer.

He served in that role until 2022, after which he was appointed Chief Investment Officer. Over nearly two decades, Lines significantly contributed to shaping the strategic direction of the company, enhancing the investment function, and fortifying the balance sheets of the Group’s companies. Lines will continue to serve as a Senior Advisor until June 30, 2025, offering support throughout the transition.

Robert Foskey, President & CEO of the Everen Group, said: “Since joining the Everen Group as CFO and later as CIO, Ricky has played a vital role in building our reputation among our members, brokers, rating agencies, and investment managers as a trusted and reliable partner.

“During his tenure, Ricky was instrumental in executing many important strategic initiatives, including rebranding our companies, strengthening our balance sheets and liquidity profiles, working with the rating agencies to secure and improve our credit ratings, and helping achieve substantial investment returns resulting in more than $3.5 billion in dividends for our Everen members. We are very grateful to Ricky for his many contributions and wish him the best in his retirement.

“I am delighted that James has accepted the role of CIO. He is a well-respected member of our team and I have no doubt that he will continue to bring his considerable expertise and leadership skills to his new role.”

Ralph J. Egizi, Chair of the Board of Everen Investment Ltd. said: “Ricky leaves a considerable legacy at Everen Group – we are proud of his achievements over the past 19 years and on behalf of the Board, we would like to express our sincere thanks for all he has done.”

Paul C. Reinbolt, Chair of the Board of Everen Specialty Investment Ltd., added: “It has been a pleasure to work with Ricky over these many years and on behalf of the Board, we wish him all the best in his well-deserved retirement.”

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