Everest Re Estimates Enron Losses at $25 Million

Barbados-based Everest Re Group, Ltd. announced that a preliminary estimate of its loss exposure following the collapse of Enron would amount to around $25 million net after reinsurance and tax recoveries.

The estimate covers estimated losses from the Group’s subsidiaries in Bermuda and the U.S., and “reflects all of the company’s projected exposure including underwriting, credit and investment,” said the statement.