RE - Everest Re Grows Strongly In Reinsurance Catastrophe Losses Ahead Of Prior Year
- Global insurance and reinsurance company Everest Re (RE) has reported a strong second-quarter of results, with its reinsurance book expanding almost 40% on a gross premium basis, but with catastrophe losses a little ahead of the prior year.
- Underwriting income came out at $274 million for the quarter, which is after taking account of pre-tax net catastrophe losses of $45 million, which Everest Re said were from several global catastrophe events.
- $35 million of the firm’s Q2 catastrophe losses hit the reinsurance business, but still the combined ratio was only 87.9%, much better than the prior year’s 86.7%.
For further details see:
Everest Re Grows Strongly In Reinsurance, Catastrophe Losses Ahead Of Prior Year