Everest Re

Reflecting the much improved conditions for investments into reinsurance and retrocession, global insurance and reinsurance player Everest Group has received both positive income and dividends from its Mt. Logan Re Ltd. third-party capitalised sidecar-like structure in 2023.

For global insurance and reinsurance player Everest Group, using its Mt. Logan Re Ltd. third-party capitalised sidecar-like structure is seen as preferable to sponsoring catastrophe bonds or hedging with ILW’s, according to CFO Mark Kociancic.

In what looks to be a positive sign for its third-party investors, the Mt. Logan Re collateralized sidecar vehicle has been accepting increased levels of reinsurance premiums in 2023, while losses ceded to it by parent Everest Group are down considerably.

For global insurance and reinsurance group Everest, the Mt. Logan Re Ltd. third-party capital vehicle is having a strong year, with over $250 million of new capital raised and its assets under management approaching $1.1 billion.

For global insurance and reinsurance group Everest, the Mt. Logan Re Ltd. third-party capital vehicle is a key strategic priority for the long-term, one that the company intends to grow, COO and Head of Reinsurance Jim Williamson told us.

Global insurance and reinsurance specialist Everest has seen the recent trend of a return to productive growth for its collateralized reinsurance investment vehicle Mt. Logan Re continue in the second-quarter of 2023.

Mt. Logan Re, Bermuda-based re/insurer Everest’s collateralized reinsurance investment vehicle, has announced the addition of Charles E.F. Millard as a Non-Executive Independent Board Director, as well as the retirement of long-serving Board member Frank Lopapa.

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.