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Everest Re

Everest Re sees “flight back to traditional model,” says John Doucette

9th November 2020

John Doucette, President and CEO of the Reinsurance division at Everest Re, has said that the company is seeing a flight to quality and a “flight back to the traditional model” ahead of the 2021 renewals. Speaking alongside the release of Everest Re’s Q3 results, Doucette commented on how the ... Read the full article

Everest Re reports $243mn Q3 net income, operating profit falls $41mn

30th October 2020

Bermuda-based re/insurer Everest Re has reported a $243.1 million net income for the third quarter, up from $104.4 million in the prior year quarter. After-tax operating income for the quarter was $97 million, down from $138.4 million in 2019. Pre-tax catastrophe losses totalled $300 million, an amount that is net of reinsurance and ... Read the full article

Everest Re announces estimated Q3 catastrophe losses

23rd October 2020

Bermuda-based reinsurer Everest Re Group has announced its estimated Q3 2020 catastrophe losses. Everest is estimating pre-tax net catastrophe losses in the amount of $300 million, net of reinsurance and reinstatement premiums. The estimate includes the impact of Hurricanes Laura, Isaias and Sally, wildfires in California and Oregon, and other events including ... Read the full article

Everest Re looks to raise $1bn via debt issue

6th October 2020

Bermuda-based reinsurer, Everest Re Group, Ltd. has announced that its wholly-owned subsidiary, Everest Reinsurance Holdings, Inc., is set to raise $1 billion of additional capital through a debt issue. Everest Re has priced a registered public offering of $1 billion aggregate principal amount of 3.500% Senior Notes due 2050. The company expects ... Read the full article

Everest Re appoints SCOR’s Kociancic as CFO; Chubb’s Williamson as COO

30th September 2020

Mark Kociancic, previously Chief Financial Officer (CFO) at SCOR, has been appointed as Executive Vice President (EVP) and Group CFO of Bermuda-based reinsurer Everest Re Group, Ltd., as Jim Williamson takes on the role of EVP and Group Chief Operating Officer (COO). Both Kociancic and Williamson will serve on the Everest ... Read the full article

Everest Re sees flight to quality among reinsurance buyers: John Doucette

13th August 2020

Having now finished the June and July renewals, Everest Re has observed a continued flight to quality by reinsurance buyers, according to John Doucette, EVP, President and CEO of Everest Insurance Division. Speaking during an earnings call alongside the release of Everest Re’s Q2 results, Doucette said the expanded opportunity set ... Read the full article

Everest Re’s combined ratio deteriorates to 97.5% in Q2

6th August 2020

Bermuda-based reinsurer Everest Re Group, Ltd. has reported underwriting income of $50.9 million for the second-quarter of 2020, despite incurring $160 million in net pre-tax losses related to the ongoing COVID-19 pandemic. The reinsurer says that its underwriting result highlights the underlying strength and sustainable profitability of the franchise. Underwriting income of ... Read the full article

Everest Re names Karmilowicz as President & CEO of its Insurance Division

24th July 2020

Bermuda domiciled insurer and reinsurer, Everest Re Group, Ltd., has appointed Michael Karmilowicz as President and Chief Executive Officer (CEO) of the Everest Insurance Division, effective immediately. Karmilowicz has been with Everest Insurance since 2015, most recently serving as Executive Vice President and President of North America P&C. He brings almost three ... Read the full article

Everest Re pegs Q2 COVID-19 losses at $160mn

24th July 2020

Bermuda-based reinsurer Everest Re Group, Ltd. has reported losses related to the COVID-19 pandemic of $160 million in the second-quarter of 2020, taking the firm's total hit from the ongoing crisis to $310 million. The reinsurer states that of its total Q2 2020 pandemic hit, $130 million is allocated to its ... Read the full article

Reinsurance markets to remain healthy at mid-year renewals: Everest Re’s Doucette

15th May 2020

Everest Re is expecting the reinsurance markets to remain healthy at the upcoming mid-year renewals, despite uncertainties from the COVID-19 pandemic, according to John Doucette, EVP, President and CEO of the company’s Reinsurance Division. Speaking on a call alongside the release of Everest Re’s Q1 results, Doucette noted that the ... Read the full article

Everest Insurance names Sujal Patel as UK Head of Transactional Risk

12th May 2020

Everest Insurance, a division of Bermuda-based insurer and reinsurer Everest Re Group, Ltd., has appointed Sujal Patel as the UK Head of Transactional Risk for Everest Global Markets. The re/insurer's Global Markets unit includes Everest Insurance Ireland, DAC, and Lloyd's of London Syndicate 2786. Patel brings over a decade of industry experience ... Read the full article

COVID-19 sees Everest Re’s Q1 profits plunge $338mn

7th May 2020

Global re/insurer Everest Re Group has reported a net income for the first quarter of $16.6 million, down from $354.6 million in the prior year quarter. After-tax operating income for the quarter was $164.4 million, compared to $282.4 million in 2019. Much like with other players in the re/insurance space, COVID-19 related ... Read the full article

Everest Re promotes Sharry Tibbitt to Deputy CUO for Reinsurance

4th May 2020

Global re/insurer Everest Re Group, Ltd. has announced the promotion of Sharry Tibbitt to Deputy Chief Underwriting Officer (CUO) for its Reinsurance division, reporting to Chris Downey, CUO for Reinsurance. In her new role, Tibbitt will work alongside Downey and closely with leadership across the reinsurance unit to both guide and ... Read the full article

Everest Re appoints Merkel as marketing & communications VP

1st May 2020

Bermuda-based re/insurer Everest Re Group has announced the appointment of Stephanie Merkel as vice president, marketing and communications. Merkel joins from Chubb where she served in a variety of senior marketing capacities within their North America operation. She will be responsible for leading the day to day activity of the marketing and ... Read the full article

Everest Insurance makes changes to Commercial Casualty leadership team

24th April 2020

Everest Insurance, a division of Everest Re Group, Ltd., has announced a number of promotions within its Commercial Casualty leadership team, with four U.S. domiciled underwriters becoming regional leaders. Frank Engle, who joined Everest Insurance in 2018 in the Atlanta office, has been appointed Vice President & Regional Leader for the ... Read the full article

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