Everest Re Comments on SEC Finite Reinsurance Subpoena

Bermuda-based Everest Re Group has issued a statement following receipt of a subpoena from the Securities and Exchange Commission seeking information about finite reinsurance, or loss-mitigation insurance products.

Everest Re said that it will “fully cooperate with this and any future inquiries and that Everest Holdings does not believe that it has engaged in any improper business practices with respect to loss mitigation insurance products.”

Everest Re also indicated that its insurance subsidiaries have received and are responding to broadly distributed information requests by state regulators including those from Delaware and Georgia.

Latest Comments

• May 26, 2005 at 1:40 am

  bamba says:

  "tired of it all" - to say that all executives working in the industry were former AIG executives is rather startling and shows a narrow viewpoint, in fact aig retains executi... read more
• May 26, 2005 at 12:30 pm

  Spratto says:

  I don't think you will find another company with a culture and operating framework any closer to being a mirror image of AIG. I would not be surprised to see many of the very ... read more
• May 26, 2005 at 12:27 pm

  tired of it all says:

  So were most of the executives in the industry. You state the obvious, with implications that anyone working at AIG has or will cmmit an offense of some type. Guess that mea... read more