Reinsurance News
Everest Re
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
Everest Re announces pricing of $1bn of Senior Notes
30th September 2021
Bermuda-based reinsurer Everest Re Group, Ltd. has announced that its wholly-owned subsidiary, Everest Reinsurance Holdings, Inc., priced a registered public offering of $1 billion aggregate principal amount of 3.125% Senior Notes due 2052. Everest Reinsurance Holdings expects the offering to close on October 4th, 2021, subject to customary closing conditions. The net ... Read the full article
Everest Insurance names Andrew McBride as Global Head of Claims
21st September 2021
The primary insurance arm of global reinsurer Everest Re Group, Ltd., Everest Insurance, has announced the appointment of Andrew McBride as Senior Vice President, Global Head of Claims. In his new role, McBride will be based in London and will report directly to Mike Karmilowicz, President and Chief Executive Officer (CEO) ... Read the full article
It’s an “arms race” between reinsurers: Everest Re CEO Andrade
8th September 2021
Recent years of heightened catastrophe activity, characterised by rising losses from secondary perils, has significantly changed the way the reinsurance industry views risk, contributing to an "arms race" as reinsurers look to leverage the latest technology and processes, according to Juan Andrade, President and Chief Executive Officer (CEO) of Everest ... Read the full article
Everest Re names new President of Mt. Logan Re
3rd September 2021
Bermuda-based insurer and reinsurer Everest Re Group has appointed John Modin as President of its subsidiary Mt. Logan Re. Modin joins Mt. Logan from Citigroup where he was a Managing Director in the financial services group and Head of Insurance Solutions. He brings over 30 years of experience in the financial services, ... Read the full article
Everest Re posts solid premium growth as net income rises in 2021
29th July 2021
Bermuda-based reinsurer, Everest Re Group, Ltd. has announced a significantly improved net income for both the second-quarter of 2021 and the first half the year, of $680 million and $1 billion, respectively. Everest Re's Q2 net income increased by a massive 256% when compared with the prior year period, while net ... Read the full article
Moskowitz & Bell take senior reinsurance roles at Everest Re
14th July 2021
Bermuda-based re/insurer Everest Re Group has announced the appointments of Ari Moskowitz and Peter Bell to critical leadership roles within its Reinsurance Division. Moskowitz has been named Senior Vice President, Chief Operations Officer and Peter has been named Senior Vice President, Chief Executive Officer and Managing Director of Bermuda, subject to ... Read the full article
AXIS adds Everest Re’s Caponigro to lead overhauled ILS unit
13th July 2021
AXIS Capital has appointed Chris Caponigro to lead its newly-rebranded Insurance Linked Securities (ILS) unit as Global Head. Caponigro will oversee the company’s third party capital related activities currently under management across its reinsurance and Insurance segments. He will report to AXIS Re Chief Executive Steve Arora and will be based out ... Read the full article
Everest appoints Williamson to lead reinsurance as Doucette departs
11th May 2021
Bermuda-based reinsurer Everest Re Group, Ltd. has announced that Jim Williamson will takeover as the Head of the Everest Reinsurance Division, effective immediately. Williamson currently serves as the firm's Executive Vice President and Group Chief Operating Officer (COO), and retains this position alongside his new responsibilities leading the reinsurance unit. He succeeds ... Read the full article
Everest Re announces net income of $342m for Q1 despite heavy cat load
29th April 2021
Bermuda-based insurer and reinsurer, Everest Re Group, Ltd., has reported net income of $342 million and underwriting income of $45 million for the first quarter of 2021, despite pre-tax net catastrophe losses of $260 million for the period. The reinsurer pre-announced $260 million of cat losses earlier in April, stating ... Read the full article