|
The beginnings of Everest Re Group date back to 1973, when Prudential Reinsurance Company was established as a subsidiary of the Prudential Insurance Company of America. Then in 1995, Prudential successfully completed a public offering of 100 percent of Prudential Re's stock and the company, under the guidance of current CEO and Chairman Joseph V. Taranto, changed its name to Everest Reinsurance. In 2000, as a result of a corporate restructuring at the holding company level, Everest Re Group, Ltd. became the publicly owned parent of the group.
Timeline of key events in our history
- 2008 - Everest Re opens an office in Rio de Janeiro to better serve their Brazilian clients
- 2004 - Everest Reinsurance (Bermuda), Ltd. establishes a UK Branch and purchases Everest Reinsurance Company's UK operations
- 2001 - Moody's upgrades Everest Reinsurance Company's financial strength rating to Aa3
- 2001 - Southeastern Security Insurance Company changes name to Everest Security Insurance Company.
- 2000 - Everest Re Group, Ltd., through its subsidiary, Everest Reinsurance (Bermuda), Ltd., acquired AFC Re, Ltd., a Bermuda-based annuity/life reinsurer, from AFC Holdings, Ltd.
- 2000 - Through its U.S. holding company, Everest Re Group acquires Gibraltar Casualty Company, a run-off property-casualty insurer domiciled in Delaware. Immediately following the acquisition, Gibraltar's name is changed to Mt. McKinley Insurance Company.
- 2000 - Everest Re Group, Ltd. forms a new reinsurer, Everest Reinsurance (Bermuda), Ltd. to write reinsurance in Bermuda and international markets
- 2000 - In a corporate restructuring, a newly formed holding company, Everest Re Group, Ltd. becomes the publicly traded parent of the Everest Re Group of companies
- 2000 - Everest Re acquires Southeastern Security Insurance Company, a Georgia insurer underwriting non-standard automobile business in Georgia
- 1998 - Everest Re opens an office in Singapore to further serve customers in Asia
- 1998 - Standard & Poor's upgrades its ratings of Everest Re and Everest National to "AA-"
- 1998 - Everest Re's statutory surplus passes the $1 billion threshold
- 1997 - Everest Re opens an office in Miami to better serve their Latin American and Caribbean clients
- 1997 - A. M. Best upgrades its ratings of Everest Re and Everest National to "A+"
- 1997 - Mt. McKinley Managers, L.L.C. ("Mt. McKinley"), a New Jersey limited liability company licensed as an insurance producer, including surplus lines authority, is formed by Everest Re Holdings
- 1997 - Everest Indemnity Insurance Company, a Delaware insurance company, is formed to engage in the excess and surplus lines insurance business in the United States
- 1997 - Everest Re converts its European operation from a corporate subsidiary to a branch, thereby allowing the full capital of Everest Re to support business written throughout the world
- 1996 - Everest Re acquires Everest Insurance Company of Canada, an insurer with federal and provincial licenses to write property and casualty insurance
- 1996 - Prudential Re, Prudential National and Prudential Reinsurance Holdings adopt the "Everest" name
- 1995 - The Prudential sells its entire interest in Prudential Reinsurance Holdings' shares of common stock in a public offering
- 1993 - Prudential Reinsurance Holdings, Inc. is formed by The Prudential to serve as the parent holding company of Pru Re
- 1991 - Prudential National Insurance Co., a new Pru Re subsidiary, is established to provide primary property and casualty insurance
- 1987 - Pru Re forms dedicated units specializing in marine, aviation and surety business
- 1985 - Pru Re creates a second European subsidiary, Le Rocher, UK, headquartered in London
- 1979 - Pru Re establishes an Asian regional office in Hong Kong
- 1977 - Pru Re opens a full service Canadian office in Toronto
- 1976 - Pru Re establishes a European subsidiary, Le Rocher, based in Brussels
- 1973 - Prudential Reinsurance Company (Pru Re) is formed as a subsidiary of The Prudential Insurance Company of America
|
