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Everest Reinsurance

Everest Re Group Ltd. is a Bermuda-based holding company that operates through the following principal subsidiaries; U.S. Reinsurance, Insurance, Specialty Underwriting, and International. The company provides a wide range of reinsurance and insurance products in the U.S., Bermuda, and international markets. Everest Re underwrites reinsurance through brokers and directly with ceding companies. The company writes insurance primarily through general agents, brokers, and surplus lines brokers. (04 Sep 2018)

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Euro Financial Movers: Stressing The Positives

Euro Financial Movers: 02 Dec 2018, 10:07 PM ET - The Bank of England's stress test results, more money laundering problems for Danske Bank and Deutsche Bank, HSH Nordbank's Tier 1 termination, Axa's deleveraging, and the effect of S&P's rating methodology change on insurance hybrids.
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U.S. P&C Insurance: 3Q18 Earnings Recap

Sector Analysis: 19 Nov 2018, 10:15 PM ET - We provide a recap of U.S. P&C Insurer third quarter earnings reports and highlight certain trends and topics that emerged.

Axa: 9M18 Mixed Activity Indicators

Earnings Note: 06 Nov 2018, 10:08 PM ET - Axa released mixed activity indicators for the first nine months of 2018. XL was acquired on 12 September 2018 but will be fully consolidated from 1 October 2018. Nat cat claims are relatively minor at group level.
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Everest Re 3Q18: Breakeven Underwriting Acceptable

Worth Watching: 30 Oct 2018, 2:19 PM ET - Everest Re 3Q18: RE reported after-tax operating income of $168 mn in 3Q18. Adjusted earnings translate to an EPS of $4.09, well ahead of the Bloomberg consensus estimate of $2.97. Results aren't necessarily comparable to the prior year period ..
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Everest Re: Estimates Catastrophe Losses

Worth Watching: 18 Oct 2018, 11:36 PM ET - Everest Re announced that it is estimating $240 mn of pre-tax catastrophe losses in the third quarter as a result of Hurricane Florence, California wildfires, Typoon Jebi, Typhoon Trami, and Japan floods. While this is likely to erase most of t ..

U.S. P&C Insurance: Michael Insured Loss Estimates

Worth Watching: 15 Oct 2018, 12:19 PM ET - U.S. P&C Insurance: A number of risk modelers and data vendors have now released insured loss estimates for Hurricane Michael, with estimates ranging from a low of ~$3 bn to a high of ~$10 bn. At either end of the spectrum, losses will be absor ..

U.S. Insurance: Rate Hikes A Plus, Curve Stubborn

Sector Analysis: 10 Oct 2018, 9:11 PM ET - In this note we discuss the rising rate environment in light of a flattening yield curve. P&C insurers with shorter duration liabilities should benefit immediately, while life insurers with long duration liabilities face challenges.
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U.S. P&C Insurance: Hurricane Michael

Sector Analysis: 10 Oct 2018, 4:35 AM ET - Hurricane Michael may end up being a Category 4 storm before it ultimately makes landfall in the Florida panhandle region. We discuss which insurers are most at-risk of losses, and offer a downloadable Excel file to accompany the note.

Global Insurance Rendez-Vous: The New Norm

Global Insurance Rendez-Vous: 20 Sep 2018, 11:35 PM ET - As $144 bn of nat cat losses failed to trigger a hard market, we see a breakdown in the historic link between prices and nat cat losses caused by the abundance of capital. Rates are expected to remain stable at the January 2019 renewals.
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Everest Re 2Q18: Revised Loss Estimates Hit Profit

Worth Watching: 31 Jul 2018, 11:14 AM ET - Everest Re 2Q18: RE reported after-tax operating income of $40 mn, down from $234 mn a year ago. Earnings translate to an adjusted EPS of $1.70, or about $0.18 short of Bloomberg's consensus estimate. GAAP net income this quarter was $70 mn, do ..
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Everest Re: Taking ~$250 mn Reserve Charge in 2Q18

Worth Watching: 20 Jul 2018, 9:01 AM ET - Everest Re announced that it expects to report an after-tax reserve charge of ~$250 mn associated with adjustments for prior year catastrophe events, in particular Hurricanes Harvey, Irma, and Maria. According to the insurer, the increase in lo ..

Presentation Slides: U.S. P&C Insurance 2018

Presentation Slides: 11 Jul 2018, 5:04 AM ET - In this note, we provide an adapted version of our standard P&C Insurance sector presentation. We offer a downloadable copy of the presentation, as well. 

Global Insurance Rendez-Vous: Picks & Pans

Global Insurance Rendez-Vous: 28 Jun 2018, 10:54 PM ET - We mark the middle of 2018 with our top picks and pans in our global insurance coverage universe. We highlight a pick and pan in the Life, Non-Life/Composite, and reinsurance sectors.

P&C Insurance: Cyber Market Continues to Grow

Sector Analysis: 12 Jun 2018, 9:56 PM ET - In this note we review the cyber insurance market, which has been hailed as one of the few real growth opportunities in the P&C insurance marketplace.

P&C Insurance: Hurricane Season 2018 Primer

Sector Analysis: 03 Jun 2018, 10:11 PM ET - The Hurricane season has officially started and lasts through Nov 30. We discuss which insurers are most vulnerable to hurricane losses, look at insurer exposure in specific geographies, and offer a downloadable Excel/PDF “cheat sheet."

U.S. P&C Insurance: CSU Hurricane Predictions

Worth Watching: 31 May 2018, 11:05 AM ET - U.S. P&C Insurance: Researchers at Colorado State University now anticipate that the 2018 Atlantic hurricane season will have average activity, a downgrade from slightly above-average activity in their projection earlier in the year. As per the ..

Global Insurance Rendez-Vous: P&C Combined Ratio

Global Insurance Rendez-Vous: 29 May 2018, 9:34 PM ET - In this note, we discuss underwriting trends amongst Non-Life insurers and highlight select names with an interesting story like AIG, CB, TLX, and RSA, amongst others.
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Insurance: Top 25 Reinsurers 2017

Worth Watching: 29 May 2018, 3:31 PM ET - Insurance: Based on data compiled by S&P Global Market Intelligence, Munich Re remained as the largest reinsurer in 2017 as measured by reinsurance premiums written/assumed. The company reported $35.7 bn of reinsurance premiums written in 2017, ..

P&C Insurance: 1Q18 Earnings Recap

Sector Analysis: 16 May 2018, 4:44 AM ET - We recap first quarter earnings reports in the U.S. Property & Casualty insurance sector and touch on the biggest news items. Key topics include auto line improvements and premium rate changes.

AXA: Pricing the IPO of Axa Equitable. Cut to U/P

Worth Watching: 10 May 2018, 4:06 AM ET - AXA announced the pricing of the IPO of Axa Equitable this morning. The pricing is set at $20 per share versus a $24 to $27 target range. Axa will list 24.5% of Axa Equitable representing $2,745 mn. In addition, and in combination with the IPO, ..

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