Everest Re News

Everest Re and Argo Report Net Catastrophe Loss Estimates for Q3 2018

Everest Re Group Ltd. and Argo Group International Holdings Ltd. announced their preliminary pre-tax catastrophe loss estimates for the third quarter, ended Sept. 30, 2018. Bermuda-based Everest Re’s estimated catastrophe loss was $240 million, net of reinsurance. The estimate includes …

New Cyber Insurance Package Protects Hedge Funds’ Trade Secrets and Fees

Hedge funds can spend years crafting a trading algorithm or a strategy to keep ahead of competitors. A Stone Point Capital-backed insurance broker is offering to help protect those trade secrets, and their fees, from a cyber attack. Alliant Insurance …

A Tale of Two Floridas: Hurricane Irma’s Belated Impact on Reinsurers

Reinsurers expressed different views of loss developments related to Hurricane Irma, when executives reviewed the impact of the Florida event on second-quarter earnings reports earlier this month. Everest Re was among those negatively impacted, with a preannounced net reserve charge …

Everest Re Expects Q1 Catastrophe Losses of $100M on Rising California Wildfire Claims

Everest Re Group Ltd. estimates it will incur $100 million of catastrophe losses, net of reinsurance recoverables and reinstatement premiums, in the first quarter of 2018, largely arising from the California wildfires and related events. Everest said its original loss …

Hedge Funds Invest in Reinsurance Stocks on Expected Rate Hikes in 2018

Hedge funds bought reinsurance stocks in the third quarter after prices tumbled on widespread losses after multiple hurricanes in North America, filings showed on Wednesday. Hurricanes in the United States and the Caribbean in August and September are expected to …

More Re/Insurers Issue Their Q3 Natural Catastrophe Loss Estimates

The third quarter natural catastrophe loss estimates continue to rise, as more insurers and reinsurers weigh in with their loss totals from Hurricanes Harvey, Irma and Maria, and the Mexico earthquakes. The latest companies to provide estimates include: AXIS Capital …

Everest Re in London Taps Hiscox’s Armitage, Gairdner from Tokio Marine Kiln as Sr. Underwriters

Everest Re Group Ltd. announced the addition of several new senior underwriters to the London team of Everest Reinsurance (Bermuda) Ltd. Luke Armitage joins Everest Re’s London office as senior underwriter for motor business. Previously, he spent 10 years with …

Everest Re Taps AXIS Re’s Heizmann as Head of European Credit & Surety

Everest Re Group Ltd. announced that Markus Heizmann will join Everest Reinsurance (Ireland), dac, as head of its Zurich-based credit & surety operations. He will work alongside Laurent Arnould, head of Financial Products, to further develop the worldwide trade credit …

Growing List of Re/Insurers Make Decisions on Post-Brexit EU Headquarters

Everest Re Group Ltd. has said its Dublin-based unit has received approval from the Central Bank of Ireland to become a non-life insurer, joining a growing list of insurers setting up regulated EU operations in case Britain does not have …

Everest Taps Farr to Lead Environmental Unit in North America; Adds McVay for Monoline

Brian Farr has been named leader of the Environmental unit within Everest Insurance. Based in Everest’s Liberty Corner, N.J., office, Farr is charged with expanding the company’s environmental product breadth, appetite and distribution footprint in North America. Farr initially joined …