Reinsurance News
Everest Re
Everest Re’s Q1 cat losses reveal rising California wildfire costs
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
Everest Re to partner with Hudson Structured and co-invest in InsurTech
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
Everest Insurance launches investment management solution
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
Everest Re expands financial lines with a Private Company unit
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
Jan 1st renewals complex but successful, says Everest Re’s John Doucette
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
Everest Re appoints Jonathan Zaffino President and CEO of Everest Insurance
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
Everest Re adopts Xuber for Reinsurers tech platform
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
Everest Re CEO Dominic Addesso has contract extended to end of 2019
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
Everest Re sets up Private Company/ Not-for-Profit business segment
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
ValueInsured closes Everest Re & HIIG led $6.5m funding round
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
Everest Re puts Q3 cat losses at $900 million after tax
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
Everest Re hires senior underwriters for London team
12th October 2017
Global reinsurer Everest Re has named Luke Armitage and Emma Gairdner as newly appointed senior underwriters, within the firm's London team. Armitage joins Everest Re’s London office as Senior Underwriter for Motor business, after having spent 10 years with Hiscox Insurance as Head of Actuarial Pricing, and bringing a total 25 ... Read the full article
Markus Heizmann joins Everest Re from AXIS Re
3rd October 2017
Global reinsurer Everest Re has announced the appointment of Markus Heizmann from AXIS Re, as Head of Everest Reinsurance (Ireland), dac's Zurich-based Credit & Surety Operations. Heizmann joins the firm from AXIS Re, where he was most recently Senior Underwriter for Credit & Surety. He brings more than 30 years of experience ... Read the full article
Everest becomes latest firm to gain Ireland approval amidst Brexit fallout
2nd October 2017
In response to the UK's vote to leave the European Union (EU) and to support expansion plans, Everest Re Group, Ltd. has announced that its Dublin-based subsidiary has received authorisation in principle to operate as a non-life insurer in Ireland. The new unit will be led by Stephen Cross, who has ... Read the full article
Everest Re appoints Jonathan Zaffino to Executive Vice President
13th September 2017
Everest Re has announced that Jonathan Zaffino, President of the North America Insurance Division and Senior Vice President of Everest Re, has been appointed Executive Vice President, Everest Re Group, Ltd. Dominic Addesso, President and Chief Executive Officer (CEO) of Everest Re Group, commented on the appointment; “Jon continues to be ... Read the full article