All Everest Re articles
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AnalysisCEOs confident US rates will continue to outpace loss costs
An analysis of US commercial insurance feedback provided by management in earnings releases and on investor calls reveals rate increases continue to accelerate for most, with pricing drivers such as social inflation and the low interest environment expected to persist throughout 2021.
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News
Everest Re increases cat reinsurance limit and Mt Logan AUM
Everest Re president and CEO Juan Andrade has described the recent 1 January renewal as one of the strongest in a number of years, with the company on the catastrophe side increasing the limit it deployed as well as upping the assets under management (AUM) at its retro vehicle Mt ...
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News
Everest Re falls to $44mn Q4 operating loss
Everest Re has reported a bigger fourth quarter operating loss than analysts were expecting, as pre-announced catastrophe and Covid-19 losses and reserve strengthening pushed the combined ratio to 109.1 percent for the quarter.
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News
S&P confident Everest’s $400mn reserve strengthening is one-time charge
S P Global Ratings has responded to Everest Re’s $400mn bolstering of its reinsurance segment reserves by stating it does not expect any further material reserve strengthening by the Bermudian (re)insurer and that the charge will be an earnings event.
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Comment
Is the spectre of US casualty reserve deficiencies set to loom over 2021?
Everest Re’s surprise $400mn casualty-focused reinsurance reserves charge, announced after markets closed last night, raises questions as to whether another wave of liability reserve strengthening may be set to follow in 2021.
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News
Everest takes $400mn liability charge on 2015-2018 reserves
Everest Re cited social inflation as it took a $400mn reserving charge largely relating to liability business written in the soft market years of 2015 to 2018, and also warned its fourth quarter 2020 results will include $146mn in combined pre-tax net catastrophe and Covid-19 losses.
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News
Everest takes Cooper and Finnegan from Liberty
Everest Insurance has named Marcus Cooper as head of distribution for its North America business and Michael Finnegan as head of E S casualty, with both executives making the move from Liberty Mutual.
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News
Everest launches new architects and engineers policy
Everest Insurance has released an architects and engineers (A E) professional liability policy, providing professional, pollution and cyber liability coverage with up to $15mn in limits.
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News
Everest Insurance names Germano specialty casualty president
Everest Insurance has promoted Connie Germano to president of specialty casualty, following the executive serving as senior vice president and head of specialty casualty for the past five years.
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News
Everest’s Andrade joins USAA board
US military and veteran insurer USAA has announced Everest Re president and CEO Juan Andrade as the newest member of its board of directors.
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News
Everest turns to Clark as replacement for Karmilowicz as ESU head
Everest Specialty Underwriters (ESU) has appointed Robert Clark as its new head, filling the role that was previously held by Mike Karmilowicz prior to his promotion to president and CEO of Everest Insurance.
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News
Extraordinary Re CEO Dove lands at Everest Re
Will Dove has left his position as CEO of Bermudian reinsurance trading platform Extraordinary Re to take up an executive role at Everest Re that is expected to lean on his experience in the structured (re)insurance space, The Insurer understands.
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News
Navigators hires Everest’s Koppang to lead wholesale primary casualty
The Hartford’s specialty insurance and reinsurance arm Navigators has brought in Eric Koppang from Everest Insurance to head up its wholesale primary casualty unit, The Insurer can reveal.
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News
Everest Insurance promotes Wu to E&S excess casualty head
Everest Insurance has named Edward Wu as its new vice president and E S excess casualty national leader just six months after he joined the company from Sompo International.
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News
Property retro market most dislocated “in 15, 20 years”: Everest’s Doucette
Everest Re is bullish about its reinsurance opportunities heading into 1 January, with reinsurance CEO John Doucette noting the property retro market is the most dislocated it has been in at least 15 years.
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News
Everest Re takes $125mn of Q3 Covid-19 losses in earnings beat
Everest Re’s operating income dropped in the third quarter, in results that included $125mn of Covid-19 losses as well as $300mn of pre-announced catastrophe losses.
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News
Everest Re facing $300mn pre-tax net catastrophe hit in Q3
Everest Re’s Q3 2020 results will include an estimated $300mn of pre-tax net cat losses, although CEO Juan Andrade said the Bermuda-based (re)insurer still expects to report “significant” net income and positive net operating income for the period.
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News
Everest to raise $1bn with debt issue
Everest Re has priced a $1bn issue of senior unsecured notes that will pay a 3.5 percent coupon to raise funds it says will be used for unspecified general corporate purposes at a time when a number of its peers have been scaling up for hard market opportunities by accessing ...
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News
Everest Re looks to Scor and Chubb for CFO and COO roles
Everest Re has named Scor’s Mark Kociancic as executive vice president and group chief financial officer (CFO) and Chubb’s Jim Williamson as EVP and group chief operating officer (COO).
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News
Everest hires veteran Lightbown and makes trio of senior insurance moves
Everest Insurance has made three new senior underwriting executive appointments including the arrival of market veteran Neil Lightbown as global markets chief underwriting officer (CUO).
