Everest
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Sources say he is succeeded in the role by Everest’s current deputy head of cyber Ayesha West. -
The (re)insurer had previously disclosed the $400mn reserve charge, largely connected to casualty reinsurance business from accident years 2015 to 2018.
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The charge comes at the end of Everest’s CEO Juan Andrade’s first year leading the (re)insurer.
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Occurrence retro rates are among the segments where rate pressure is abating, although the outlook remains somewhat opaque in a late renewal.
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Gross written premiums grew 16% in Q3 across both insurance and reinsurance segments.
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The carrier expects “significant” operating income and “positive” net operating income for Q3.
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Axis, RenRe, Arch and Everest Re trade roughly in line with the S&P 500.
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The executive was previously active underwriter for Everest Syndicate 2786.
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The carrier will use the proceeds of the offering for general corporate purposes.
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The executive had held the role at the syndicate since 2016, when he joined Everest.
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The new hires join as CFO and COO under recently arrived CEO Juan Andrade.
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No one business is likely to make a significant impact unless it has $7bn of capital or more, the Everest Re CEO said.
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