Reinsurance News
Everest Re
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
Everest Re sees $150m of Q1 COVID-19 claims, mostly from reinsurance
24th April 2020
Bermuda domiciled reinsurer Everest Re Group, Ltd. has announced estimated pre-tax net first party losses of $150 million in Q1 for claims related to the COVID-19 coronavirus pandemic. The reinsurer says that the majority of the losses are expected to come from its reinsurance operation. Overall, Everest Re expects its first-quarter ... Read the full article
Ralph van Helden joins Everest Insurance from Lloyd’s
21st April 2020
Everest Insurance, a division of Bermuda-based Everest Re Group, Ltd., has appointed Ralph van Helden as the Business Development Director for Everest Global Markets, which includes Everest Insurance (Ireland), DAC (EIID), and Lloyd's of London Syndicate 2786. He takes responsibility for developing and deepening regional relationships with Everest Insurance's broker partners, ... Read the full article
Everest Re adds Poracchia as CFO of Global Markets division
14th April 2020
Bermuda-based re/insurer Everest Re Group has appointed Alex Poracchia as international chief actuary and Chief Financial Officer of its Global Markets division. Prior to joining Everest, Poracchia spent nearly eight years at Deloitte UK as a partner within the firm’s Actuarial, Reward and Analytics practice predominantly supporting international clients' Audits, M&A ... Read the full article
Everest Re promotes Mango to Group Chief Risk Officer and Chief Actuary
16th March 2020
Bermuda-based insurer and reinsurer Everest Re Group, Ltd. has promoted Don Mango to Everest Group Chief Risk Officer (CRO) and Chief Actuary, effective March 30th, 2020. In his new role, Mango will report to Everest Re Group's President and Chief Executive Officer (CEO), Juan Andrade. As Group CRO and Chief Actuary, Mango ... Read the full article
Chris Downey to take over as Everest Re’s Bermuda CEO
3rd March 2020
Everest Re Group, Ltd. has announced that Chris Downey has been appointed to take over as Managing Director and Chief Executive Officer (CEO) of Everest Reinsurance (Bermuda), Ltd. He succeeds Sanjoy Mukherjee, who will transition from the Bermuda role on April 1 and return to his full time duties as General ... Read the full article
Everest Re continues to see opportunity in casualty, says CEO
18th February 2020
Juan Andrade, President and CEO of Everest Re Group, has said that the reinsurer continues to see “good opportunity” in casualty business, despite fears of escalating claims inflation. Speaking as part of an earnings call alongside the release of Everest Re’s 2019 results, Andrade said that the company had provided ... Read the full article