Everest Re
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The Bermuda sidecar took losses of $21.1mn from the reinsurer during the quarter. -
South African flood losses, Canadian and European storms and second-quarter events in the US were cited as contributors to the deterioration.
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The ILS manager’s half-year report showed significantly lower holdings with Everest Re, as much of its portfolio has gone private.
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In this newly created role, Joe Stuhl will lead the reinsurance organization’s global distribution strategy and address emerging needs.
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The executive will report to Everest Group COO and head of reinsurance Jim Williamson.
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The cover sought is for named storm and earthquake in the US and Canada.
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The trigger is territory-weighted industry loss, with the application of an inflation factor.
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He moves from Axis Capital and will succeed Jon Levenson.
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The incoming COO joins from PGGM, where he is currently a director within the credit and insurance-linked investments team.
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The carrier posted 6% growth in reinsurance, with primary insurance premiums rising 15%.
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Mango was a respected industry leader and played a key role in elevating the company’s culture of rigorous risk management.
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A New Jersey judge writes a scathing decision criticizing hospitality firms for attempting to claim physical damage from virus and misinterpreting policy language.
