Laura J. Hay
About Laura J. Hay
Laura J. Hay was appointed as an independent, non‑executive director of Everest Group, Ltd. (EG) on August 20, 2025 and serves on the Audit Committee and the Risk Management Committee. She previously spent three decades at KPMG LLP, culminating as Global Head of Insurance; she retired in 2023. Hay holds a B.S. in Mathematics and Statistics from the University of California, Berkeley, is a Fellow of the Society of Actuaries, and a Member of the American Academy of Actuaries .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| KPMG LLP | Global Head of Insurance; executive leadership roles across audit, advisory, actuarial | ~30 years; retired 2023 | Led 10,000 professionals across 90 countries; first female global insurance leader among Big Four |
| KPMG LLP Corporate and Foundation Boards | Board member | During KPMG tenure | Governance and oversight contributions within KPMG |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| MetLife, Inc. | Director | Current | Public company board; insurance and financial services |
| Girl Scouts of Greater New York | Board member | Current | Non‑profit governance |
Board Governance
- Committee assignments: Audit Committee member and Risk Management Committee member; independent status affirmed at appointment .
- EG’s governance standards: Audit, Compensation, and Nominating & Governance committees comprised entirely of independent directors; majority vote standard; independent Chair and Lead Independent Director; regular executive sessions .
- Committee independence requirements: Enhanced independence rules for Audit and Compensation Committees (no consulting fees, no affiliations beyond board service) .
Committee Membership Snapshot (Hay)
| Committee | Role | Effective Date |
|---|---|---|
| Audit Committee | Member | Aug 20, 2025 |
| Risk Management Committee | Member | Aug 20, 2025 |
Fixed Compensation
| Component | Amount (USD) | Terms / Notes |
|---|---|---|
| Annual retainer | $125,000 | Pro‑rated from appointment date; standard director retainer (can be paid in cash or Common Shares at director’s election) |
| Restricted share grant | $325,000 fair value | Standard non‑employee director equity award; restricted shares vest in equal installments over three years; grant under 2003 Non‑Employee Director Equity Compensation Plan |
| Committee chair fees | None | EG does not pay extra committee chair or meeting fees; starting 2025 only the Board Chair receives an additional $300,000 retainer (not applicable to Hay) |
Performance Compensation
| Element | Presence | Metrics / Terms |
|---|---|---|
| Performance‑based equity (PSUs/options) | None disclosed for directors | Director equity is time‑vested restricted shares; no director PSUs or options disclosed |
| Clawback, hedging/pledging policies | Company‑wide policies | Broad clawback policy; prohibition on hedging or pledging of Company stock |
Other Directorships & Interlocks
| Item | Detail | Governance Consideration |
|---|---|---|
| MetLife, Inc. board service | Current director | EG’s “no over‑boarding” standard: directors do not sit on more than two other public boards (Hay appears compliant) |
| Prior KPMG leadership | Former Global Head of Insurance at KPMG; retired 2023 | EG’s current auditor is KPMG; Hay’s Audit Committee service alongside KPMG as auditor warrants monitoring for perceived independence conflicts; EG’s enhanced Audit Committee independence rules mitigate actual conflicts (no current affiliation or fees) |
Expertise & Qualifications
- Deep technical insurance expertise (risk, regulatory, capital markets, accounting) and global leadership experience in financial services advisory .
- Actuarial credentials: Fellow of the Society of Actuaries; Member, American Academy of Actuaries .
- Quantitative and governance skills aligned with EG’s board competency matrix emphasis on finance/accounting, risk management, regulatory and international experience .
Equity Ownership
| Item | Value / Status | Source |
|---|---|---|
| Total beneficial ownership at appointment | 0 Common Shares (Direct) | Initial Form 3 filing (08/22/2025) |
| Ownership as % of outstanding | — | Not applicable given 0 shares |
| Vested vs. unvested | Not disclosed | Initial grant value disclosed, share count not specified |
| Options (exercisable/unexercisable) | None disclosed | No director options disclosed |
| Pledged shares | Prohibited by policy | Prohibition on pledging Company stock |
| Stock ownership guideline | 5x annual retainer (Non‑Management Directors) | Company guideline; compliance status not yet disclosed (new appointee) |
Insider Filings and Transactions
| Filing / Transaction | Date | Key Details |
|---|---|---|
| Form 3 – Initial Statement of Beneficial Ownership | Aug 22, 2025 | Reporting person: Laura J. Hay; Relationship: Director; Table I: 0 Common Shares (Direct) |
Governance Assessment
- Positive signals:
- Appointment as independent director with Audit and Risk Committee assignments adds technical insurance and accounting oversight depth; supports board effectiveness in risk and financial reporting oversight .
- EG’s governance architecture (independent Chair and Lead Independent Director, majority vote, independent key committees, executive sessions) enhances board independence and investor confidence .
- Director pay structure emphasizes equity alignment via time‑vested restricted shares; ownership guidelines at 5x annual retainer further reinforce “skin‑in‑the‑game” over time .
- Monitoring points / RED FLAGS:
- Prior senior leadership at KPMG while KPMG is EG’s current independent auditor could present perceived independence risk; EG’s enhanced Audit Committee independence rules (no consulting fees or affiliations) and Hay’s retirement from KPMG in 2023 mitigate direct conflicts, but continued scrutiny is prudent given her Audit Committee role .
- Initial ownership at appointment is 0 shares; progress toward director ownership guideline (5x retainer) should be monitored for alignment over time .
Context: EG’s 2024 Say‑on‑Pay approval was 93% and compensation practices include clawbacks and hedging/pledging prohibitions, which broadly support governance quality and investor alignment .