Everen Group Welcomes James Peniston as Chief Investment Officer
The Everen Group, a prominent consortium of energy insurance companies based in Bermuda, has announced the appointment of James Peniston as their new Chief Investment Officer, effective April 1, 2025. This strategic move follows the retirement of Ricky Lines and aligns with the Group’s well-established succession plan.
Peniston, who joined the Everen Group as Deputy Chief Investment Officer in September 2023, has already proven his vast expertise and exceptional leadership qualities. Prior to joining Everen, he held the position of Portfolio Manager of Structured Credit at Arch Capital and had significant roles at Enstar and Anchor Investment Management. Peniston is a graduate of the University of Vermont, holds an MBA from the IESE Business School, and is a CFA Charterholder.
Ricky Lines has been a cornerstone at Everen Group since 2006. Initially joining as Chief Financial Officer, he transitioned to the role of Chief Investment Officer in 2022. Throughout his nearly two-decade tenure, Lines played a crucial role in shaping the company’s strategic vision, bolstering the investment division, and strengthening the balance sheets of the Group’s companies. Lines will continue as a Senior Advisor until June 30, 2025, ensuring a smooth transition.
Robert Foskey, President & CEO of the Everen Group, expressed his gratitude, stating: “Since his appointment as CFO and later as CIO, Ricky has been instrumental in establishing our reputation with members, brokers, rating agencies, and investment managers as a dependable and trustworthy partner. Ricky’s efforts have been pivotal in executing key strategic initiatives, including rebranding, enhancing our financial stability, collaborating with rating agencies to secure and improve credit ratings, and achieving significant investment returns. These initiatives have resulted in the distribution of more than $3.5 billion in dividends to our Everen members. We extend our deepest appreciation to Ricky for his substantial contributions and wish him a fulfilling retirement.”
Foskey continued: “I am thrilled that James has agreed to take on the role of CIO. As a respected team member, I am confident he will continue to bring his remarkable expertise and leadership to his new position.”
Ralph J. Egizi, Chair of the Board of Everen Investment Ltd., remarked: “Ricky leaves behind a substantial legacy at Everen Group. We are proud of his accomplishments over the past 19 years and, on behalf of the Board, we extend our heartfelt thanks for his dedication.”
Paul C. Reinbolt, Chair of the Board of Everen Specialty Investment Ltd., added: “Working alongside Ricky has been a pleasure over the years. On behalf of the Board, we wish him all the best in his well-earned retirement.”
