Everest
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Good news may be temporary, no matter how good it is. -
He suggested that the company might be willing to allow higher commissions.
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The reinsurer grew its casualty pro rata reinsurance book by 64%, adding $218mn in GWP.
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After their appointments, Ari Moskowitz and Peter Bell will report to Jim Williamson, Everest Re group COO and head of reinsurance.
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Following strong year-to-date performance, P&C stocks were down in June after a change of tone in a Fed meeting.
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The company set aggressive targets for 2023 but was light on a deeper dive.
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CEO Juan Andrade laid out the new targets in an investor day presentation in which he said the carrier will become a “digital first” (re)insurer.
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Citi analyst Suneet Kamath wrote that P&C underwriters have more exposure to inflation pressures, due to higher claim costs compared with brokers and life insurers.
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The case is the latest US suit regarding whether physical damage is required to trigger BI payouts.
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The changing reinsurance market dynamics are impacting reinsurers' ability to raise rates.
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New CEOs were not able to consistently create higher book value growth than their predecessors, and any growth achieved wasn’t maintained after five years.
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The executive’s responsibilities will be taken on by chief operating officer Jim Williamson.
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