Everest shares climb despite hefty Chile increase
Everest Re has hiked its Chile loss estimate by almost forty percent from $290mn to $400mn as the reinsurer has no retro cover to fall back on.
But despite the increase, shares in the Bermudian climbed strongly by more than 5 percent today with the deterioration less than had been feared and investors reassured that the latest loss figure represents more than 90 percent of limits on excess of loss contracts it wrote.
In its earnings call, Everest Re said...
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