Everest Re Announces Preliminary Estimate of Net Catastrophe Losses for Q3

Everest Re Group, Ltd. announced a preliminary pre-tax catastrophe loss estimate 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.

Source: Everest Re | Published on October 22, 2018

Huge hurricane between Florida and Cuba. Elements of this image furnished by NASA

Commenting on these events, Dom Addesso, the Company’s President and Chief Executive Officer, said “Our thoughts are with those affected by these devastating catastrophe events. Everest’s priority is supporting the needs of our clients and business partners; delivering when it matters most. Due to our diversified Reinsurance and Insurance portfolios, we expect to report a breakeven underwriting result and an operating profit for the third quarter.”