Summary of EVEREST RE GROUP LTD

Change in Directors or Principal Officers, Financial Statements and Exhibits

Item 5.02 DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF
DIRECTORS; APPOINTMENT OF PRINCIPAL OFFICERS

On May 7, 2009, the registrant issued a news release announcing the retirement of its Chief Financial Officer, Craig Eisenacher. A copy of the news release announcing the retirement is filed herewith as Exhibit 99.1 and is incorporated herein by reference. Mr. Eisenacher resigned from the position of Executive Vice President and Chief Financial Officer effective May 4, 2009.

In addition, the registrant announced the appointment of Dominic J. Addesso to the position of Executive Vice President and Chief Financial Officer of the registrant, effective May 8, 2009. Mr. Addesso, age 55, had been with Munich Re America since 1997, in various senior executive positions, most recently as President of the Regional Clients division since 2007 and President of the Direct Treaty division from 2002 to 2007. Prior to Munich Re America, Mr. Addesso had been Executive Vice President and Chief Financial Officer of Selective Insurance Group in addition to other senior positions with the company, since 1978.

On May 6, 2009, the registrant entered into an Employment Agreement with Mr. Addesso, effective May 8, 2009.

The material terms of the Employment Agreement are as follows:

Term: May 8, 2009 to May 7, 2010

Annual Salary: $500,000

Bonus: Eligible to participate in Annual Incentive Plan (discretionary plan) for a

target bonus up to $500,000

Restricted Shares: $500,000 of restricted shares upon approval by the registrant's compensation committee,

in accordance with the 2002 Stock Incentive Plan as amended May 2006

Change of Control: Eligible to participate in the Senior Executive Change of Control Plan as amended and

restated effective January 1, 2009

Termination Clause: Restricted shares will fully vest and separation payment of $500,000 will be made upon

termination for other than misconduct or breach of Company policies

A copy of the Employment Agreement is filed herewith as Exhibit 10.1 and is incorporated herein by reference.