Reinsurance News

Everest Re

Everest Re still ‘very much a leader’ in property catastrophe: COO Williamson

5th May 2022

Bermuda-based Everest Re has been expanding its casualty book of business as it further diversifies in reinsurance, but despite the evolving business mix, the carrier remains a leader in the property catastrophe market, according to Chief Operating Officer (COO), Jim Williamson. The composition of Everest Re's P&C portfolio ended the first ... Read the full article

Everest’s P&C reinsurance book roughly an even split: COO Williamson

4th May 2022

As re/insurer Everest Re continues to reduce volatility in its portfolio by cutting its property catastrophe exposure, the firm's P&C reinsurance book is now comprised of business split closer to 50/50 between property and casualty, according to Jim Williamson, Group Chief Operating Officer (COO). Last week, the Bermuda-based carrier announced ... Read the full article

Everest Re reports stronger re/insurance underwriting result as cat load falls

28th April 2022

Bermuda domiciled insurer and reinsurer, Everest Re Group, has reported a strong start to 2022 with net income of $298 million and an improved combined ratio of 91.4%, while premiums across the group spiked by 9%. While positive, net income did fall from the $342 million posted a year earlier, while ... Read the full article

Everest Re makes appointments for Reinsurance Canada

26th April 2022

Everest Reinsurance, the reinsurance division of Everest Re Group Ltd. has announced the promotion of Scott Paddington to Chief Agent and Chief Underwriting Officer of Everest Reinsurance Canada, as well as the appointment of Russ Lewis to Chairman of the same branch. Within their new roles, both Paddington and Lewis will ... Read the full article

Everest deepens middle market expertise with new property insurance product

14th April 2022

Everest Insurance, part of Bermuda-based Everest Re Group, has announced the launch of a new commercial property insurance product – Middle Market Property. This new product offering from Everest is designed to serve the unique and unmet needs of middle market customers. The launch of Middle Market Property will position Everest to ... Read the full article

Mt. Logan Re appoints McBride to Global Head of Marketing and Business Development

5th April 2022

Mt. Logan Re Ltd, the third-party capital arm of Everest Re, has appointed Greg McBride to the newly created position of Global Head of Marketing and Business Development. In addition, the company also announced the retirement of Board Member David Whiting, who joined the company in 2013 and played a critical ... Read the full article

Property cat pricing hasn’t improved enough to justify the exposure: Everest Re CEO Andrade

11th February 2022

Property catastrophe reinsurance pricing has been on the rise for some time now, but when you consider the impacts of consecutive above-average years of natural disaster events and losses, exacerbated by climate change, it simply hasn't moved enough, according to Juan Andrade, President and Chief Executive Officer (CEO) of Everest ... Read the full article

Everest Re strengthens combined ratio as GWP rises 25%

10th February 2022

Bermuda-based Everest Re has reported underwriting income of $228 million for the fourth quarter of 2021, alongside a 25% rise in gross written premiums (GWP) across the Group driven by growth in both its insurance and reinsurance segments. In the quarter, Everest Re achieved a solid underwriting gain in spite of ... Read the full article

Everest Re signs UN Principles for Sustainable Insurance

26th January 2022

Bermuda-based Everest Re Group has become an official signatory of the UN Principles for Sustainable Insurance (PSI), a global framework for a sustainable insurance industry developed through partnership between risk management leaders and the United Nations Environment Programme Finance Initiative. The company is one of 12 Bermuda or North American-based insurance ... Read the full article

Net premiums rise for reinsurers in Bermuda

20th January 2022

The net premiums written for a group of eight reinsurers based in Bermuda rose by 18.1% through 9m21. The figure was supplied by Fitch in one of its latest reports. The company suggested that the growth was driven by rate increases, plus growth in casualty and specialty writings. Among the eight reinsurers—Arch ... Read the full article

Everest Re promotes Artur Klinger to Head of Intl. Reinsurance

13th January 2022

Bermuda domiciled reinsurer, Everest Re Group, Ltd., has named Artur Klinger, its Managing Director (MD) of Continental Europe, as the new Head of International Reinsurance, reporting to Everest Group Chief Operating Officer (COO) and Head of Reinsurance, Jim Williamson. In his new role, Klinger takes on oversight of the firm's reinsurance ... Read the full article

Everest Re extends term of CEO Andrade

17th December 2021

Bermudian reinsurer Everest Re has decided to extend the employment contract of its President and CEO, Juan C. Andrade, through to the end of 2023 with automatic annual extensions following this term. Andrade took over the position of President and CEO from Dominic J. Addesso in January 2020, having previously ... Read the full article

Everest’s Q3 net income falls by $169.6mn

28th October 2021

Everest Re group has reported a third quarter net loss of $73.5 million, having previously achieved an income of $243.1 million in the prior year quarter. The group also reported a net operating loss of $52.6 million, compared to a $97.0 million income achieved in the same period last year. An underwriting ... Read the full article

Everest names Jill Beggs SVP, Head of North America Reinsurance

27th October 2021

Everest Re Group has named Jill Beggs as Senior Vice President and Head of North America Reinsurance, effective November 15. Beggs will oversee Everest’s reinsurance business in the United States, Canada, and Bermuda, and will report directly to Jim Williamson, Everest Group COO and Head of Reinsurance. She steps into a newly ... Read the full article

Everest set for $635mn Q3 nat cat hit

14th October 2021

Global reinsurer Everest Re Group is expecting total pre-tax net catastrophe losses of $635 million for the third quarter of 2021, more than double the $305 million incurred during the entire first half of the year. In comparison, the reinsurer reported losses of $15 million for Q220 and $45 million for H120. In ... Read the full article