NEW YORK, New York – June 20, 2018 – Everest Insurance® the diversified specialty insurance division of Everest Re Group, Ltd. announced today the expansion of its global contingency business under one consolidated framework in order to deliver seamless solutions to its customers.
Since 2013, Everest Insurance®, through its Specialty Insurance Group (SIG), has been a growing leader in the contingency space, offering a variety of solutions for event cancellation, non-appearance, and several other customized contingency insurance coverages. Effective immediately, Everest Insurance® is expanding and coordinating this underwriting expertise across its global footprint. Lowery Robinson, Vice President of Everest Contingency commented “by pulling together our various platforms under one umbrella Everest can expedite and efficiently deploy our capital and underwriting expertise to structure innovative solutions for our clients. We will now operate with a single face to the market, with industry leading capacity coupled with deep expertise, and a unique and wide-ranging set of proprietary analytic tools.”
Mike Karmilowicz, Head of the Everest Specialty Underwriters unit of Everest Insurance® added “With Everest’s strong balance sheet, broad geographic reach, solution oriented underwriters, and significant capacity - as high as $100 million - we are well positioned to support our clients’ needs regardless of size, complexity, or geography. The alignment that we are announcing today is yet another example in our growing roster of industry-specific solutions, solidifying our position as a global leader in this complex, specialty area. The recent launch of our Everlink® special event portal in the United States is just one example of the continued innovation you should expect to see from Everest.”
Paul Kneafsey, Active Underwriter, Everest Syndicate 2786 further commented “We look forward to furthering our collaboration with our Everest colleagues across the globe to bring our differentiated capacity and capabilities where they are needed most. The contingency market remains an attractive growth area for Everest. Our presence at Lloyd’s, a critical distribution hub for contingency business, will enable our continued success in this area”.
For additional information, please contact:
Vice President, Head of Contingency
Contingency Lead UW, Syndicate 2786
Everest Re Group, Ltd. is a Bermuda holding company that operates through the following subsidiaries: Everest Reinsurance Company provides reinsurance to property and casualty insurers in both the U.S. and international markets. Everest Reinsurance (Bermuda), Ltd., including through its branch in the United Kingdom, provides reinsurance and insurance to worldwide property and casualty markets and reinsurance to life insurers. Everest Reinsurance Company (Ireland), dac. provides reinsurance to non-life insurers in Europe. Everest Insurance® refers to the primary insurance operations of Everest Re Group, Ltd., and its affiliated companies which offer property, casualty and specialty lines insurance on both an admitted and non-admitted basis in the U.S. and internationally. The Company also operates within the Lloyd's insurance market through Syndicate 2786. In addition, through Mt. Logan Re, Ltd., the Company manages segregated accounts, capitalized by the Company and third party investors that provide reinsurance for property catastrophe risks. Additional information on Everest Re Group companies can be found at the Group’s web site at www.everestre.com.