Hashtag: #EverestRe
A.M. Best Affirms Ratings of Everest
A.M. Best Co. has affirmed the financial strength rating of A+ (Superior) and issuer credit ratings (ICR) of “aa-” of Everest Re Group Ltd.’s (Everest Re) (Bermuda) reinsurance and insurance subsidiaries. Concurrently, A.M. Best has affirmed the ICRs of “a-” of Everest Re and Everest Reinsurance Holdings Inc. (Delaware). A.M. Best also has... Read more of this article
Everest Re Q2 Net Income: $131.1 Million
Bermuda based Everest Re Group reported their second quarter net income was $131.3 million, a drop from the $156.7 million, for the same period last year.” A statement from the Company said, “second quarter 2011 after-tax operating income which excludes net realized capital gains and losses, of $134.0 million, or $2.46 per diluted common... Read more of this article
Phelan Appointed To Everest Board Of Directors
Bermuda-based Everest Re Group, Ltd. announced the appointment of John P. Phelan to its Board of Directors, effective May 18, 2011. John P. Phelan formerly served as Chairman, President and Chief Executive Officer of Munich Re America Corporation and Munich Reinsurance America, Inc. and served as a member of Munich Reinsurance Company’s Board of Management... Read more of this article
Everest Re Losses Are Higher Than Expected
Everest Re Group Ltd , a Bermuda-based reinsurer, yesterday [Apr. 27] posted a higher-than-anticipated quarterly operating loss, hurt by hcatastrophe losses from natural disasters in Japan, New Zealand, and Australia. The company reported first-quarter operating loss of $323.6 million, or $5.95 a share, compared with a loss of $73.8 million, or $1.25... Read more of this article
Everest Estimates NZ Quake: Up to $210m
Everest Re Group, Ltd. announced today its preliminary loss estimate for exposures relating to the New Zealand earthquake in February. Their initial pre-tax loss estimate, net of reinstatement premiums, is in the range of $140 million to $210 million. Everest also expects gross losses of $45 million in the first quarter due to storms and flooding across... Read more of this article
NZ Quake Rocks Bermuda Reinsurer Shares
Bermuda reinsurers will experience aftershocks from the 6.3-magnitude earthquake which devastated parts of the New Zealand city of Christchurch yesterday [Feb.21], killing more than 60 people. “It is just a scene of utter devastation,” New Zealand’s Prime Minister John Key said. “We may well be witnessing New Zealand’s... Read more of this article
Everest Announces Canadian Expansion
Bermuda-based Everest Re Group, Ltd. announced on Friday [Feb. 11] that its subsidiary, Everest Reinsurance Company has acquired Premiere Underwriting Services, a managing general agent headquartered in Toronto, Canada, specialising in entertainment, sports and leisure related risks. Premiere will operate as an affiliate of Everest Insurance Company... Read more of this article
Everest Re Profits, Core Earnings Up
Bermuda reinsurer Everest Re Group Ltd. fourth-quarter profit jumped 53 percent and core profit also rose as revenue climbed the company announced yesterday [Feb. 9]. With its principal executive offices in Wessex House on Reid Street, Everest is a leading global provider of property and casualty reinsurance and insurance. Everest reported fourth quarter... Read more of this article
Everest Re Purchases Heartland For $55 Million
Bermuda-domiciled Everest Re Group, Ltd. announced yesterday [Jan. 3] that it has acquired the business and operations of Heartland Crop Insurance, Inc., a managing general agent, for $55 million plus the agreed upon value of the net assets of the agency, with an additional contingency of up to $13.5 million based on future performance. Everest Re Group,... Read more of this article
Everest Re in Talks to Acquire Heartland Crop
Everest Re Group, Ltd. announced on Wednesday [Dec 15] that it has entered into discussions with Heartland Crop Insurance, Inc. regarding a potential acquisition of the Kansas-based company by Everest Reinsurance Holdings, Inc. or one of its affiliates. The parties have entered into a non-binding letter of intent. The potential transaction remains subject... Read more of this article
Everest CEO Joseph Taranto Delays Retirement
The Board of Directors of Everest Re Group Ltd. announced that it has asked Joseph V. Taranto to reconsider his decision to retire and to remain as Chairman and Chief Executive Officer through December 31, 2012. Mr. Taranto had announced in July that he intended to retire as CEO at the end of the year. The Board also announced that Mr. Ralph E. Jones... Read more of this article
Flagstone & Everest Declare Dividends
Bermuda-based reinsurers Flagstone Re and Everest Re have declared their quarterly dividends, to be payable next month. Flagstone Reinsurance Holdings announced that its Board of Directors declared a quarterly dividend of $ 0.04 per Common Share, and Everest Re Group Ltd. announced that its Board of Directors declared a dividend of $0.48 per share In... Read more of this article
