Everest Re
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New registrations are expected from the ILS market.
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John Doucette, president and CEO of reinsurance at parent company Everest Re, said the company had shrunk its January catastrophe portfolio. -
At $1.05bn, the Everest Re sidecar has remained stable throughout 2018.
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People moves in the industry in the past month.
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A key question is whether retro dislocation will spill over into reinsurance renewals.
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The final couple of months of 2018 brought further pain for sidecar investors.
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Rick Pagnani was most recently CEO of Everest Re’s Mt Logan vehicle.
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The company has already started the search for his successor.
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Quota share and aggregate retro remain the most disrupted pockets of the market ahead of the January renewals, as underlying reinsurance looks flatter.
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The Everest Re sidecar will have less capacity in 2019, the reinsurer has told brokers.
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Third-quarter catastrophe losses resulted in a 1.8 percent to 5.2 percent hit to the shareholder equity of global reinsurers, with major catastrophe writers all impacted.
