Mt. Logan Re

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.

Everest Group reported quarterly results that show ongoing expansion into the hard property catastrophe reinsurance market, where the company says pricing continues to rise at more than 30%, while terms and conditions are still improving.

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’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.