Everest Re
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Issuance has picked up in the third quarter of the year with a number of large sponsors including Everest Re and Axa XL entering the market in the fourth quarter.
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Everest, Swiss Re, Aspen and other reinsurers were accused by Integrand of delaying payment of claims from Irma and Maria. -
Insurance coupons on the latest Everest Re cat bond are more than 20 percent higher than a similar issuance in 2017.
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The deal points to a significant price correction in the cat bond market since 2018, with projected spreads up more than 20 percent when compared with past deals.
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Retro fundraising hits the wall, with Eklund downing tools on start-up.
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The firm's reinsurance CEO John Doucette said the firm saw “select opportunities” to grow its retro book.
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The sidecar’s 53 percent loss ratio was well below last year’s huge claims hit.
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Industry leaders have lifted the expected total loss to a new high.
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Juan Andrade starts at the company in September as COO and will take the top position in January.
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“We're not trying to grow for the sake of growing,” Everest Re’s reinsurance chief executive John Doucette told analysts yesterday.
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The Everest Re group member has been hit by the departure of CEO Rick Pagnani and chief operating officer Michael Beck over the last year.
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A drought of retro cover may bolster Florida rate demands, sources suggest.
