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25 February 2018

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Everest Re sets Q3 pre-tax cat loss at $1.2bn

Ted Bunker and Iulia Ciutina 12 October 2017

Everest Re estimated it will report $1.2bn in pretax catastrophe losses for the third quarter, net of reinsurance recoveries and reinstatement payments.

The Bermuda-based (re)insurer said late today that the losses would amount to a "net economic impact" of $900mn after taxes.

The estimate reflects losses tied to Hurricanes Harvey, Irma and Maria as well as the two major earthquakes in Mexico, and assumes an aggregate industry cat loss in the range of $100bn, the company said.

While refining the...

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