Reinsurance News
9th February 2021
Everest Re Group has seen its fourth quarter net income fall to $64 million, a drop from the $217 million announced in the prior year quarter. This drop is largely due to a prior year reserve strengthening hit of $400 million as well as catastrophe losses of $70 million. COVID-19 losses were ... Read the full article
28th January 2021
Everest Re Group, Ltd.'s full-year 2020 earnings will be able to absorb the $546 million of previously announced fourth-quarter charges, according to analysis by S&P Global Ratings. Earlier this week, the Bermuda-based re/insurer announced estimated pre-tax net catastrophe losses of $70 million for Q4, alongside an additional $76 million of ... Read the full article
28th January 2021
Property & casualty insurer Amynta Group has appointed former Everest Re Chief Executive Dominic Addesso as non-executive chairman of ClearView Risk, its habitational property program and wholesale broking business. Addesso brings over 40 years' experience to the role and joins from Everest Re, a company he led for five years before retiring ... Read the full article
26th January 2021
Bermuda-based insurer and reinsurer, Everest Re Group, Ltd., has announced estimated pre-tax net catastrophe losses of $70 million for the fourth-quarter of 2020, alongside an additional $76 million of losses related to the COVID-19 pandemic and a $400 million reserve charge. Despite these losses, of which the majority is within the ... Read the full article
18th January 2021
Bermuda-based reinsurer Everest Re Group has appointed Mariza Costa as Vice President (VP) of Investor and Rating Agency Relations, based in the company’s US Headquarters in Warren, New Jersey. Read the full article
11th December 2020
Juan C. Andrade, the President and Chief Executive Officer (CEO) of Bermuda-based reinsurer Everest Re Group, Ltd., has been appointed to serve on the board of USAA's Risk and Compliance and Member and Technology committees. Andrade brings over 25 years of insurance and reinsurance industry experience to the firm, having served ... Read the full article
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
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
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
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
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
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
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
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
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
