Everest recovers $30mn from Kilimanjaro Re to cover Hurricane Ian losses
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Everest recovers $30mn from Kilimanjaro Re to cover Hurricane Ian losses

Liz Bury
27 July 2023
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Everest Group's reinsurance segment recovered $30mn from its cat bond coverage for Hurricane Ian, helping to bring cat losses for Q2 to $27mn, down from $80mn in Q2 2022.

Everest CEO Juan Andrade signalled last October that the Kilimanjaro Re bonds would trigger if PCS’s industry loss number hit $48bn, which it did in Q2.

The

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News Results Everest Re Catastrophe bonds Hurricane Property
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