Everen Group Appoints James Peniston As CIO
The Everen Group announced the appointment of James Peniston as Chief Investment Officer, effective April 1, 2025.
A spokesperson said, “The Everen Group, a group of leading energy insurance companies based in Bermuda, is pleased to announce the appointment of James Peniston as Chief Investment Officer, effective April 1, 2025. His appointment follows the retirement of Ricky Lines and is part of a long-established succession plan.
“Since joining the Everen Group as Deputy Chief Investment Officer in September 2023, Mr. Peniston has demonstrated his considerable expertise and leadership. Prior to joining the Group, he was Portfolio Manager, Structured Credit, at Arch Capital with previous roles at Enstar and Anchor Investment Management. James is a graduate of the University of Vermont, holds an MBA from the IESE Business School, and is a CFA Charterholder.
“Mr. Lines joined the Executive Leadership Team of the Everen Group in 2006 as Chief Financial Officer, serving in that role until 2022. In 2022, he was appointed Chief Investment Officer and has been instrumental in helping to set the strategic direction of the Group. Over the past 19 years, he successfully developed and managed the investment function and helped strengthen the balance sheets of our companies. Mr. Lines will continue as a Senior Advisor through June 30, 2025 to provide support during the transition period.”
Robert Foskey, President & CEO of the Everen Group, commented: “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.”
