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Everest Re is a world leader in property and casualty reinsurance and insurance, offering innovative products, responsive service, and unsurpassed financial strength. Everest Reinsurance Company underwrites virtually all classes and categories of business in treaty, facultative, and specialty lines, both through brokers and directly with ceding companies. Primary insurance products and services are available through several subsidiary operations including Everest National Insurance Company, Everest Indemnity Insurance Company, and Everest Insurance Company of Canada.
Everest professionals, working from several office locations around the world, have the technical expertise and market knowledge to produce tailored solutions precisely fitted to customer needs, ensuring that businesses have the coverage they require. By consistently delivering on their promises, Everest has established a reputation for reliability and strength in the insurance and reinsurance sector.
In recent years, Everest has made significant strides in expanding its global footprint and diversifying its product offerings. Their ongoing projects focus on enhancing digital capabilities to provide better customer experiences and streamline operations. Financially, Everest remains robust, with a solid balance sheet and a commitment to prudent risk management practices.
Everest’s strategic partnerships and collaborations with key players in the industry enable them to stay ahead of market trends and offer competitive, cutting-edge solutions. With a dedication to excellence and a customer-centric approach, Everest continues to be a trusted partner for businesses around the globe.
Everest Re Group reported its Q3 2021 results, highlighting a 25% year-over-year growth in gross written premiums (GWP) to $3.5 billion. The insurance segment GWP increased by 43% to $1.0 billion, while reinsurance segment GWP grew by 19% to $2.5 billion. Despite a pre-tax underwriting loss of $323 million due to $635 million in catastrophe losses from Hurricane Ida, the attritional combined ratio improved to 87.9%. Total shareholder return is at 13.2% year-to-date. The company reported a net loss of $(73.5) million or $(1.88 per share).
Everest Re Group, Ltd. (NYSE:RE) has appointed Jill Beggs as Senior Vice President and Head of North America Reinsurance, effective November 15, 2021. She will lead strategic initiatives across the US, Canada, and Bermuda, reporting to Jim Williamson. With over 30 years of reinsurance experience, Beggs aims to enhance Everest's market position. Additionally, Connie Germano transitions to a senior role within the reinsurance division, focusing on Treaty Casualty & Surety, succeeding Dennis Alba, who is retiring in 2022 after a successful career.
Everest Re Group, Ltd. (NYSE:RE) has reported preliminary catastrophe losses of $635 million for Q3 2021, significantly impacting its financial outlook. This includes $415 million from Hurricane Ida and $220 million from European floods, contributing to insured industry losses of approximately $28-$30 billion and $12 billion, respectively. Full earnings will be disclosed on October 27, 2021. The company emphasizes its commitment to aiding affected communities as they recover.
Everest Re Group, Ltd. (NYSE:RE) announced the pricing of a public offering of $1.0 billion of 3.125% Senior Notes due 2052 through its subsidiary, Everest Reinsurance Holdings, Inc. The offering is set to close on October 4, 2021, pending customary conditions. Proceeds will be used for general corporate purposes aligned with long-term strategic objectives. Citigroup and Wells Fargo are joint book-running managers for this offering, which is registered under an effective shelf registration statement with the SEC.
Everest Re Group, Ltd. (NYSE: RE) is set to announce its third quarter 2021 earnings on October 27, 2021, after the NYSE market closes. The earnings conference call is scheduled for October 28, 2021, at 8:00 am ET. Investors can register for the call and access the live webcast through the company’s investor website. Everest, a prominent global reinsurance and insurance provider, has nearly 50 years of operation across multiple regions, including the U.S. and Europe, and is a member of the S&P 500 index.
Everest Re Group, Ltd. (NYSE:RE) has appointed John Modin as the new President of Mt. Logan Re, Ltd., effective September 30, 2021. Mr. Modin brings over 30 years of financial services and insurance experience, having previously served at Citigroup. He succeeds David Whiting, who retires after 45 years in the reinsurance market but will assist in the transition. Juan C. Andrade, President & CEO of Everest, emphasized Modin's critical role in expanding their risk financing capabilities. Mt. Logan, operational since 2013, manages approximately $1 billion in assets.
Everest Re Group announced a dividend of $1.55 per share, payable by September 15, 2021, to shareholders on record as of August 25, 2021. The Company operates globally in the reinsurance and insurance sectors for nearly 50 years, offering various property, casualty, and specialty products through its subsidiaries across key markets including the U.S., Europe, and Bermuda. Everest's common stock is listed on the NYSE under the symbol RE and is part of the S&P 500 index.
Everest Re Group, Ltd. has released its Global Loss Triangles for the year ended December 31, 2020. This announcement is accessible on the company's investor relations website under the Financials/Annual Disclosures section. Everest, a leading global insurance and reinsurance provider with nearly 50 years of experience, operates through subsidiaries across various territories, including the U.S., Europe, and Bermuda. The company's common stock is traded on the NYSE under the symbol RE and is part of the S&P 500 index.
Everest Re Group reported a strong Q2 2021 with net income of $680 million ($16.95 per share) and net operating income of $587 million ($14.63 per share). The company achieved 35% growth in gross written premiums and 39% in net written premiums. The GAAP combined ratio improved by 8 points to 89.3%. Despite $45 million in pre-tax catastrophe losses, operating cash flow was $724 million, and shareholders' equity rose to $10.42 billion. Total Shareholder Return (TSR) stood at 22.5% for the first half of 2021, surpassing the target of 13%.
Everest Re Group (NYSE: RE) will host its second quarter 2021 earnings conference call on July 29, 2021, at 8:00 AM ET. Financial results will be released on July 28 after market close. Investors can access a live webcast and a replay of the call on the company’s investor relations website. Additionally, an investor day webcast is scheduled for June 23, 2021, from 8:00 AM to 11:30 AM ET. Everest is a prominent global reinsurance and insurance provider, operational for nearly 50 years across various regions.
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