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Everest Re hires Andrade from Chubb to succeed Addesso as CEO

Bermudian reinsurance firm Everest Re has hired Juan C. Andrade from Chubb and named him as the current COO, but lined up to become CEO on Jan 1 2020, to succeed outgoing CEO Dominic Addesso.Andrade will become Chief Operating Officer of the reinsurance firm in the interim period, before stepping read the full article →

2014 cat bond issuance hits $7.143 billion with Kilimanjaro Re 2014-2

The settlement and completion of the $500m Kilimanjaro Re Ltd. (Series 2014-2) catastrophe bond today takes 2014 issuance of new cat bonds and insurance securitisations to $7.143 billion, keeping the market on track for a possible record year.The Kilimanjaro Re 2014-2 cat bond, sponsored by Bermuda based insurance and reinsurance read the full article →

Kilimanjaro Re cat bond prices at mid-point, gets preliminary rating

Everest Re's latest catastrophe bond, the now $500m Kilimanjaro Re Ltd. (Series 2014-2), has been priced with the coupon settling at the mid-point. The cat bond notes have also received their rating and a little more detail on the transaction has emerged as a result.The Kilimanjaro Re 2014-2 cat bond read the full article →

Kilimanjaro Re 2014-2 cat bond grows to $500m, pricing at mid-point

The Kilimanjaro Re Ltd. (Series 2014-2) catastrophe bond, launched recently for Bermuda reinsurance firm Everest Re, reflecting strong investor demand for the ILS asset class is set to increase in size by 43% to secure the reinsurer $500m of protection.When this cat bond launched in late October the Kilimanjaro read the full article →

Everest Re launches $350m Kilimanjaro Re 2014-2 catastrophe bond

Bermuda headquartered reinsurance company Everest Re is returning to the catastrophe bond market with its second issuance this year, with the launch to investors of Kilimanjaro Re Ltd. (Series 2014-2) a $350m U.S. and Canada earthquake cat bond.Everest Re sponsored its first cat bond in April, the $450m U.S. named storm read the full article →

Kilimanjaro Re cat bond prices at lowest end of reduced guidance

Reinsurance firm Everest Re's first catastrophe bond issue, the now $450m after upsizing Kilimanjaro Re Ltd. (Series 2014-1), has priced at the lowest end of a reduced price guidance range, Artemis understands.Everest Re must be delighted with the success of its first trip to the catastrophe bond market as a read the full article →

Alternative capacity increasingly part of Everest Re’s strategy: Addesso

Bermudian reinsurance group Everest Re is increasingly using alternative reinsurance capital as part of its strategy as the firm seeks ways to optimise its returns, according to President and CEO Dominic Addesso.After a strong first-quarter, reported yesterday, which saw Everest Re beat expectations reporting after-tax income of $281m, equating to read the full article →

S&P assigns preliminary ratings to Kilimanjaro Re cat bond

Preliminary ratings have now been assigned to the first catastrophe bond from new sponsor Everest Reinsurance Company, Kilimanjaro Re Ltd. (Series 2014-1), which grew to $450m as investor demand helped the reinsurer increase the cover the cat bond will provide.Standard & Poor's Ratings Services said on Friday that it has read the full article →

Everest Re’s Kilimanjaro Re cat bond grows to $450m with demand

The first catastrophe bond from new sponsor Everest Reinsurance Company, Kilimanjaro Re Ltd. (Series 2014-1), has increased in size by 80% to $450m and pricing guidance has dropped due to strong investor demand.Sources said that the Kilimanjaro Re cat bond, through which Everest Re is looking to secure a source read the full article →

Kilimanjaro Re, first catastrophe bond from Everest Re, launches

Another first time catastrophe bond sponsor is coming to market, this time in the shape of Everest Reinsurance Company, with Kilimanjaro Re Ltd. (Series 2014-1), seeking retrocessional protection for U.S. named storms and earthquakes.Everest Re is looking to secure a four-year source of fully-collateralized retrocessional reinsurance protection through the issuance read the full article →