Everest Re

Bermuda-based insurer and reinsurer Everest Re Group sees a clear opportunity for expansion at the upcoming reinsurance renewals, launching an equity capital raise that was quickly upsized and could provide the firm close to $1.5 billion in new firepower.

Bermuda-based insurer and reinsurer Everest Re Group’s collateralized reinsurance investment vehicle, Mt. Logan Re, raised funds at the January 1st renewals despite clear dislocation in the insurance-linked securities (ILS) marketplace, and the firm expects further growth over time, according to Jim Williamson, Group Chief Operating Officer (COO) and Head of Reinsurance.

Everest Re, the Bermuda-headquartered global insurance and reinsurance firm, has said that it achieved what it sees as an “excellent outcome” from the January renewal season, with property a particular highlight.

Global insurance and reinsurance company Everest Re ceded less in the way of premiums written to its Mt. Logan Re Ltd. collateralized reinsurance sidecar-like vehicle in the third-quarter and first nine months of 2022, likely reflecting lower available capital under management.

Global insurance and reinsurance firm Everest Re is expanding its use of insurance-linked securities (ILS) investor capital, with its third-party capital venture Mt. Logan Re Ltd. a core component of the firm’s efforts to lower its catastrophe exposures, according to John Modin, President of Mt. Logan Re.

Mt. Logan Re Ltd., the collateralized reinsurance sidecar-like and insurance-linked securities (ILS) vehicle operated by re/insurer Everest Re, has announced the hiring of experienced pension investor in ILS, the PGGM employee Youssef Sfaif, as its new COO.

As Everest Re hones its portfolio, to lower its property catastrophe exposure in a firming market, the company is finding this trade of more profit, for less exposure, to be an outstanding one, according to CEO Juan Andrade.

Global insurance and reinsurance firm Everest Re continues to take steps to reduce its exposure to property catastrophe related volatility, with its writings of catastrophe excess-of-loss reinsurance business falling to just 16% of its first-quarter book.

Mt. Logan Re Ltd., the collateralized reinsurance sidecar-like and insurance-linked securities (ILS) vehicle operated by re/insurer Everest Re, has announced two key appointments as it continues to build-out its team.

Mt. Logan Re Ltd., the collateralized reinsurance sidecar-like and insurance-linked securities (ILS) vehicle operated by re/insurer Everest Re, has appointed former AQR Re chairman Andrew J. Sterge as an independent non-executive director.