Everest Re
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The sidecar grew as the (re)insurer reported a 29 percent surge in gross written premium for the quarter. -
The Florida-based insurer is also expecting to make reinsurance claims related to the Hawaiian eruptions.
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Re-opened claims in Florida hit aggregate policies written by the reinsurer.
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The Florida insurer decreased the share of its growing premium base being ceded to reinsurers.
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The CEO is leaving his position as head of Everest Re’s sidecar after five years in the role.
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Everest Re sidecar Mt Logan Re wrote almost 50 percent more premium year-on-year in the first quarter, recording $81mn of written premium.
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Everest Re's new Kilimanjaro Re cat bonds have settled at $525mn as pricing dropped to the lower range of tightened guidance.
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The combined target size of Everest Re's new Kilimanjaro Re cat bonds has jumped by 75 percent from $300mn to $525mn
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Everest Re said that rising losses from last year's Californian wildfires would result in a $100mn charge in its first quarter results.
