Mt. Logan Re investor pipeline strong: Everest Re CEO Andrade

Global insurance and reinsurance company Everest Re has is experiencing strong investor interest for its Mt. Logan Re Ltd. collateralized reinsurance sidecar-like vehicle, CEO Juan Andrade said yesterday.

As we reported last year, Everest Re has been targeting “significant” growth for its Mt. Logan Re third-party reinsurance capital vehicle, which the company sees as a key strategic opportunity and capital lever.

New leadership for Mt Logan Re Ltd. was installed in 2021 as well, with well-known insurance-linked securities (ILS) focused executive John Modin hired from Citigroup to become the President of Mt. Logan Re Ltd.

During yesterday’s earnings call for Everest Re, CEO of the company Juan Andrade explained that Mt. Logan Re features within the company’s strategic expansion plans.

“Mt. Logan plays an important role in our long-term growth aspirations,” Andrade explained. Saying that Mt. Logan Re is “Uniquely positioned, given its excellent alignment with the Everest property portfolio.”

Vehicles like Mt. Logan Re are not just playing a role akin to an insurance-linked securities (ILS) fund for many investors.

Rather they can be seen as a more direct way to tap into a re/insurers underwriting returns, which with Everest Re considered a top-tier global player, makes the strategy particularly attractive for those seeking an alignment play with a major re/insurer.

As a result, it’s no surprise the company continues to have investor conversations.

To which Andrade said, when it comes to Mt. Logan Re, “We have a strong pipeline of prospective investors.”

Andrade went on to say that, “We remain optimistic about the prospects for Logan.”

Also explaining that there are plans to expand the Mt. Logan Re strategy further, to meet investor demands.

Saying, “We continue investing in the platform with new products, customised to meet investors objectives.”