19 October 2018Insurance

Everest Re expects $240m Q3 cat loss

Bermuda-based Everest Re Group estimates pre-tax catastrophe losses for the third quarter of 2018 of $240 million, net of reinsurance.

The estimate includes third quarter 2018 losses from Hurricane Florence, California wildfires, Typhoon Jebi, Typhoon Trami and Japan floods.

"Everest's priority is supporting the needs of our clients and business partners; delivering when it matters most,” CEO Dom Addesso said. “Due to our diversified reinsurance and insurance portfolios, we expect to report a breakeven underwriting result and an operating profit for the third quarter," Addesso added.

Get all the latest re/insurance industry news with our daily newsletter -  sign up here.

More of today's news

AIG expects up to $1.7bn cat loss for Q3

Ex-DARAG CEO unveils new carrier backed by Munich Re

Aon forms new ventures group, appoints CIO and leadership team

New Nordic’s Danish subsidiary Qudos suspends underwriting amid restructuring

Insurtech OnRisk partners with MGA startup on P&C structuring platform

Don't miss our insurtech email newsletter - sign up today

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk


More on this story

Insurance
10 December 2018   Everest Re Group has appointed Kevin Pinto as new chief underwriting officer (CUO) of Everest Insurance Company of Canada (EvCan).
Insurance
31 August 2018   Lloyd’s chief commercial officer Vincent Vandendael has decided to leave the corporation after almost six years to become CEO international at Everest Insurance in early 2019.
Insurance
1 August 2018   Bermuda-based Everest Re CEO Dominic (Dom) Addesso has explained how the reinsurer miscalculated the cat losses from 2018 which made the company issue a profit warning for its second quarter 2018 results.