Everest Reinsurance Holdings, Inc., a wholly owned subsidiary of Bermuda’s Everest Re Group, Ltd. announced that its share of the aggregate estimated losses previously announced by the Group from the Florida hurricanes and the Pacific typhoons is approximately $120 million.
“This amount is an estimate of Everest Reinsurance Holdings, Inc.’s aggregate losses from hurricanes Charley, Frances, Ivan and Jeanne, and the quarter’s Pacific typhoons and is net of tax,” said the bulletin. “It includes, with respect to the hurricanes, the Company’s U.S. and Caribbean exposures.”
The estimate is also “subject to variability reflecting the unusual pattern of multiple storms and the resulting impacts on claims adjusting by, and communications from, ceding companies.”
Was this article valuable?
Here are more articles you may enjoy.
One Battle After Another: What TPLF Victory in One State Means for Others 
Rhine River Shipping Stalls as Water Level Hits Record Low 
At-Bay to Be Acquired by Munich Re for $575 Million 
Meta Stares Down Trillion-Dollar Threat as Landmark Social Media Trial Begins 
