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Everest Re books 20% reinsurance growth citing flight to quality

Global insurance and reinsurance group Everest Re has reported impressive growth of its reinsurance book in the third-quarter of 2020, as premiums written grew 20% and the company's CEO said it is benefiting from a "flight to quality" in current "underwriter’s market" conditions. Everest Re looks likely to be one of read the full article →

Everest Re cedes fewer premiums to Mt. Logan Re in Q2, but up for H1

Global insurance and reinsurance player Everest Re ceded fewer premiums to its Mt. Logan Re Ltd. collateralized reinsurance sidecar-like vehicle in the second-quarter of 2020, although for the first-half cessions are still up by 13% compared to the prior year. This represents a change in the timing of cessions to the read the full article →

Everest Re adds to Mt.Logan Re AuM in Q2 2020

Everest Re, the global insurance and reinsurance firm, managed to add some assets under management to its Mt. Logan Re Ltd. collateralised reinsurance sidecar-like vehicle during the second-quarter of 2020, executives explained yesterday. Mt. Logan Re had sat at around $818 million in terms of assets under management (AuM) at January read the full article →

Everest Re adds $160m of Covid-19 reserves in Q2, takes total to $310m

Global insurance and reinsurance group Everest Re has added another $160 million to its reserves for claims and losses from the Covid-19 pandemic, with the majority again coming from its reinsurance division. The company said late yesterday that it expects to report $130 million of largely incurred but not reported (IBNR) read the full article →

Everest Re plans expansion of Mt. Logan Re strategy: Doucette, ILS Asia 2020

Bermuda-based insurer and reinsurer Everest Re Group continues to explore ways to evolve and develop its alternative capital play, according to John Doucette, Executive Vice President (EVP) and Chief Executive Officer (CEO) of the Reinsurance Division. In the first-quarter of 2020, Everest Re reported that premiums ceded to its collateralized reinsurance read the full article →

Everest Re’s premiums ceded to Mt. Logan Re rise 38% in Q1

Global insurance and reinsurance group Everest Re made increased use of its Mt. Logan Re Ltd. collateralized reinsurance sidecar-like vehicle in the first-quarter of 2020, with premiums ceded to the structure rising 38% year-on-year. The acceleration in terms of premiums being ceded to third-party reinsurance capital investors through the Mt. Logan read the full article →

Everest Re adds to hedges with ILW’s, Mt. Logan Re AuM stays flat

Everest Re, the global insurance and reinsurance firm, has been buying hedging protection in the form of industry-loss warranty (ILW) coverage in 2020, while catastrophe bonds and its Mt. Logan Re collateralised reinsurance vehicle also continue to play a key role in its protection for the all-important hurricane season. Speaking during read the full article →

Everest Re reports 21% premium growth, small profit despite Covid-19

Global insurance and reinsurance group Everest Re has significantly grown its underwriting book in the first-quarter of the year, reporting 21% growth in net premiums written in a quarter marred by Covid-19 pandemic related losses but in which it still managed to report a profit. Everest Re reported $16.6 million of read the full article →

Everest Re warns of $150m Covid-19 hit largely to reinsurance book

Global insurance and reinsurance group Everest Re has warned the market that it is reserving for a potential $150 million hit to its business from losses due to the Covid-19 coronavirus pandemic. While Everest Re said that it expects to report a combined ratio of below 100% across its consolidated reinsurance read the full article →

Premiums ceded to Mt. Logan Re outpaced losses in 2019 for Everest Re

Global insurance and reinsurance group Everest Re ceded more premiums to its Mt. Logan Re Ltd. collateralized reinsurance sidecar-like vehicle in 2019 than losses, the first year since 2016 when catastrophe impacts have been far outpaced by premium growth. While 2019 saw its fair share of major global catastrophe loss events read the full article →