Mt. Logan Re

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’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.

Bermuda-based insurance and reinsurance company, Everest Re, continues to benefit from a robust pipeline of insurance-linked securities (ILS) investment opportunities and is seeing a “high degree of interest” in its collateralized reinsurance sidecar-like vehicle, Mt. Logan Re Ltd., according to Chief Financial Officer (CFO), Mark Kociancic.

Bermuda-based insurer and reinsurer Everest Re has $350 million of catastrophe bond limit that attaches at a $48.9 billion PCS industry loss threshold for Hurricane Ian, suggesting a potential recovery should PCS’ view of the ultimate industry loss rise from its current $40.9 billion estimate.

Everest Re, the global insurance and reinsurance underwriter, has announced an estimated $600 million of pre-tax and net losses from hurricane Ian, while its total third-quarter 2022 catastrophe loss burden is pegged at $730 million, including global events.

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.