Reinsurance News
7th June 2018
Bermudian insurer and reinsurer Everest Re Group, Ltd. has announced that Darin Scanzano has been appointed Chief Executive Officer (CEO) of Everest Insurance Company of Canada, effective later this summer. He will report to David Sandler, Head of the Everest Insurance® Risk Management Group, and will based in the company's Toronto, Canada office. Sandler, commented: ... Read the full article
1st June 2018
Everest Re Group has partnered with technology firm Salus Systems, LLC on an updated version of its safety communication platform ZERO, a real-time sharing platform that allows employees to actively contribute to their company’s safety programme. ZERO 2.0 now includes several enhanced features, such as a comprehensive dashboard, live-chat capabilities, bulletin ... Read the full article
29th May 2018
Everest Re has announced that Suzanna Sandusky has joined Everest Insurance as a Vice President (VP) within its Risk Management Group, where she will oversee underwriting and provide flexible, customised primary casualty solutions in the large account marketplace. Sandusky joins from Oswald Companies, having worked as Market Leader for Global Accounts, ... Read the full article
30th April 2018
Dominic Adesso, President and Chief Executive Officer (CEO) of Everest Re, has said that the company has experienced an increase in demand for reinsurance from larger primary insurers, driven by increased mergers and acquisitions (M&A) activity in the sector. Everest Re has also seen cedants increasingly turn to reinsurance solutions to ... Read the full article
12th April 2018
Everest Re Group has reported that it expects to incur $100 million of estimated catastrophe losses in the first quarter of 2018, largely due to rising industry loss estimates from the California wildfires, which are now projected at over $13 billion. Loss estimates have risen dramatically since the fourth quarter of ... Read the full article
20th March 2018
Bermudian reinsurer Everest Re Group, Ltd. has announced plans to enter into a strategic agreement with Hudson Structured Capital Management, Ltd. (HSCM), an investment adviser specialising in re/insurance and transportation, which will see them collaborate across a number of areas, including co-investment in new InsurTech opportunities. The partnership will combine HSCM’s ... Read the full article
16th March 2018
Insurer and reinsurer Everest Re Group has released a new investment management product, Everest Elevation® Investment Management Insurance Policy (Elevation IMI), which provides management and professional liability coverage to investment advisers, mutual funds and hedge funds. Charles Higham, Head of Financial Institutions, said the product comes in response to demand for ... Read the full article
21st February 2018
Reinsurer Everest Re has expanded the Everest Insurance Financial Lines division of Everest Specialty Underwriters (ESU), with a Private Company/Not-For-Profit unit, set to be led by Salvatore Collura. The Private Company aims to design creative insurance solutions to protect companies and management from shareholder disputes and employment-related issues to cyber threats. Everest ... Read the full article
9th February 2018
Bermuda-based reinsurer Everest Re has noted the combination of disruptive forces as the market approached January 1st, 2018, resulting in a complex renewal season for the reinsurance industry, underlined by the continued and growing influence of alternative capital and the market impact of 2017 catastrophe events. Speaking during the reinsurer's recent ... Read the full article
5th January 2018
Bermuda-based reinsurer Everest Re Group, Ltd. has announced the appointment of Jonathan M. Zaffino as President and Chief Executive Officer (CEO) of Everest Insurance Division, effective immediately. Zaffino joined Everest Re in 2015 and most recently served as President of the North America Insurance Division. In his new role as President and CEO ... Read the full article
21st November 2017
Bermuda-based global reinsurance firm Everest Re has signed up to adopt the Xuber for Reinsurers platform for all of its global reinsurance subsidiaries. The Xuber for Reinsurers platform was developed by Xchanging, a DXC Technology company, and allows reinsurers to digitalise their processes using a single-data-model and end-to-end business processing platform. Everest ... Read the full article
20th November 2017
Bermuda headquartered reinsurance specialist Everest Re Group, Ltd. has announced that its Chief Executive Officer Dominic Addesso will be staying on right through 2019, after having his contract extended. Everest Re said that the firm's employment agreement with Dominic J. Addesso, President and Chief Executive Officer, is going to be extended ... Read the full article
15th November 2017
Everest Re has set up a Private Company/ Not-for-Profit business segment (Private/NFP) in the Everest Specialty Underwriters unit of Everest Insurance, to compliment its expanding Financial Lines division. The Private/NFP team will target small, middle and large Private/Not-for-Profit firms and organisations on a primary and excess basis, delivering innovative solutions across ... Read the full article
18th October 2017
Down payment protection provider ValueInsured has closed a $6.5 million funding round led by an Everest Re Group affiliate and Houston International Insurance Group (HIIG). The funding marks Everest Re and HIIG's continued commitment to the insurer and builds on existing partnerships which began in 2014 with an initial $6 million ... Read the full article
13th October 2017
Bermuda domiciled reinsurer, Everest Re, has announced pre-tax catastrophe losses for the third-quarter of 2017, net of reinsurance and reinstatement premiums, of $1.2 billion. After tax the figure falls to $900 million, and includes estimated losses from hurricanes Harvey, Irma, Maria, and the Mexico earthquakes, and is based on an aggregated ... Read the full article
