Everest
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Before Florence and Michael, rate reductions had looked set to resume.
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More than 4,000 new claims were filed to the insurer in the third quarter. -
Better-than-expected results push the shares up 4 percent.
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Although estimates for the Q3 disasters vary, in aggregate the events are likely to generate insured losses north of $10bn.
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Everest Re breaks even on underwriting but posts solid investment income.
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The Insider 50 closed last week at 1,071.3 points, a 3.5 percent decline week on week
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Lazar will manage a team of underwriters focused on the primary casualty large account marketplace out of the Everest west region offices in Los Angeles.
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The reinsurer was hit with estimated Q3 cat claims of $240mn from losses including Florence, California wildfires and typhoons in Japan.
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The executive will take on the role in addition to leading Everest's commercial casualty operation.
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Reinsurers now have fresh impetus to argue for flat renewals at 1 January.
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The reinsurer said it had a 10 percent share of insured value in Bay and Gulf counties.
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Cedant has traditionally relied heavily for reinsurance on sister company Maiden.
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