Everest hires AIG’s Patel as UK head of transactional riskEverest Insurance has appointed former AIG underwriter Sujal Patel as the UK head of transactional risk for Everest Global Markets.
Everest and RenRe highlight Covid-19 trapped collateral effectPotential trapped collateral at ILS funds related to Covid-19 uncertainty is compounding a capacity shortage in the reinsurance and retro market, according to Bermudians Everest Re and RenaissanceRe.
Everest Re shares tick up as Andrade highlights “unambiguous” policy termsInvestors have responded positively to reassurances from Everest Re that its property insurance policies have “unambiguous” language requiring direct physical loss for BI coverage to trigger, and steps its reinsurance platform is taking to exclude pandemic risk at renewals.
Everest’s Q1 operating income falls as Covid-19 and cat bite bottom lineEverest Re’s first quarter 2020 after-tax operating profit dipped by 41.8 percent year on year to $164.4mn after pre-announced Covid-19-related IBNR losses of $150mn and a further $30mn of catastrophe claims took their toll on its bottom line.
Everest Re promotes Tibbitt to deputy CUOEverest Re has promoted Sharry Tibbitt to deputy chief underwriting officer (CUO), a role which will see her supporting CUO Chris Downey in managing and guiding the direction of the reinsurer’s book of business.
Everest Re’s Jonathan Zaffino to join Ascot as presidentJonathan Zaffino is set to join expansive CPPIB-backed (re)insurer Ascot as group president, The Insurer can reveal.
Everest Insurance CEO Zaffino resignsEverest Insurance’s president and chief executive Jonathan Zaffino is leaving the company after resigning his position.
RenRe and Nephila take tough Florida stance as Munich and Swiss look to growThe Florida renewal is shaping up to be even more disjointed than last year as recent market leaders RenaissanceRe and Nephila impose tighter underwriting criteria and giants Munich Re and Swiss Re step in to target increased market share, The Insurer can reveal.
Everest estimates $150mn of Q1 Covid-19 lossesEverest Re Group has estimated the impact of Covid-19 on its first quarter results, including $150mn in pre-tax net first party losses for claims related to the pandemic.
Everest hires Van Helden from Lloyd’s for business development roleEverest Insurance has hired Ralph van Helden as business development director for its global markets unit as the company once again turns to the Corporation of Lloyd’s to build out its roster.
Everest appoints CFO for international insurance businessEverest Re has appointed an international chief actuary and chief financial officer (CFO) for its international insurance business as the company continues to grow its operations outside of North America under the oversight of Vincent Vandendael.
Everest turns to Sompo International’s Lodge for insurance CFO roleEverest Re Group’s fast-growing insurance arm has brought in Dana Lodge from Sompo International to fill its newly created chief financial officer position.
Everest, CinFin and Arch among hardest hit as US stocks slide againThere was a further sell off of US shares Monday as lawmakers could not find agreement on an economic rescue package to respond to the coronavirus pandemic, with (re)insurance stocks mostly falling by more than the overall market.
Mango named Everest Re group CRO as Passante takes ERM roleEverest Re has promoted Don Mango to Everest Group chief risk officer (CRO) and chief actuary, succeeding Tom Passante, who will take on a role as a senior leader of the Bermudian’s global enterprise risk management (ERM) function.
Everest Re CUO Downey to replace Mukherjee as Bermuda CEOEverest Re is reshuffling some of its senior management with Sanjoy Mukherjee handing over his responsibilities as managing director and chief executive of the company’s Bermudian reinsurance business to Chris Downey.
Everest adds four underwriters to E&S casualty excess groupEverest Insurance has added four new underwriters within the E&S casualty excess group, with hires from Allianz, Crum & Forster, CoverX Specialty and RT Specialty.
Everest’s Doucette describes “W-shaped” market; Mt Logan shrinksIn contrast to the widely-touted view of a “U-shaped” market with reinsurance rates lagging primary and retro rates, Everest Re’s reinsurance CEO John Doucette believes the better characterisation is a “W-shape” reflecting a mixed reinsurance market.
Everest Q4 beats while insurance premiums grow 30%Everest Re Group has reported fourth quarter operating earnings that included $19.2mn of favourable reserve development as well as the previously announced $215mn of catastrophe losses.
Everest facing Hagibis-driven Q4 cat hit of $215mnEverest Re’s fourth quarter 2019 results will include catastrophe losses of approximately $215mn, net of estimated reinsurance recoveries and reinstatement premiums.
Everest to offer workers’ comp via DovetailEverest Insurance has expanded its capabilities to sell workers’ compensation coverage after teaming up with Victor’s digital managing general agent platform Dovetail.