Everest
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The executive, Everest CEO from 1994 to 2013, has served as board chair since 1994. -
GAAP reserve triangles reveal the struggles of some hybrid franchises.
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John Howard was appointed as an independent, non-executive member.
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At the PLUS D&O symposium, executives raised concerns over tariffs and the role of reinsurance.
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The agency said it does not expect a “material impact” from the charge.
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At January 1 renewals, prices dropped 5%-15% for loss-free programs.
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The Bermudian’s wildfire loss estimate was based on an industry loss range of $35bn-$45bn.
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The carrier’s year-end kitchen sink action is a make-or-break moment for a troubled franchise.
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CEO Jim Williamson said social inflation was a “growing barrier” to a vibrant economy.
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The (re)insurer recorded a reserve charge of nearly $1.3bn within its casualty insurance book.
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He was appointed acting CEO earlier this month, after Andrade’s departure.
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The appointment follows a series of moves across the Miami treaty sector over the past 12-18 months.
Related
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Everest taps Delgado to succeed Korze as LatAm head
January 14, 2025 -
Everest’s quandary: Finish what Andrade started or change course?
January 14, 2025 -
Everest explored massive legacy deal as part of casualty remediation
January 09, 2025 -
Everest’s Andrade leaves for president and CEO role at USAA
January 08, 2025 -
Everest Group appoints Williamson acting CEO as Andrade departs
January 08, 2025