Home About Everest News Everest Announces Estimated Third Quarter 2020 Catastrophe Losses Everest Announces Estimated Third Quarter 2020 Catastrophe Losses Everest Re Group, Ltd. (“Everest” or the “Company”) announced today estimated third quarter 2020 catastrophe losses. 10/22/2020 BERMUDA Seon Place, 4th Floor Hamilton HM 19,, Bermuda CONTACT Jon Levenson Head of Investor Relations (908) 604-3169 SHARE in tw mail HAMILTON, Bermuda – (BUSINESS WIRE) – October 22, 2020 – Everest Re Group, Ltd. (“Everest” or the “Company”) announced today estimated third quarter 2020 catastrophe losses. Everest is estimating pre-tax net catastrophe losses in the amount of $300 million, net of reinsurance and reinstatement premiums. The estimate includes the impact of Hurricanes Laura, Isaias and Sally, wildfires in California and Oregon, and other events including the Midwest United States Derecho windstorm. Juan C. Andrade, Everest CEO commented: “Our thoughts and sympathies go out to all those affected by these recent catastrophe events. Everest provides meaningful capacity and valuable solutions to our customers, helping communities rebuild when events such as these take place. Despite the industry catastrophe losses during the quarter, Everest expects to report significant net income and positive net operating income for the third quarter of 2020, a reflection of the strength and diversification of our business.” This news release contains forward-looking statements within the meaning of the U.S. federal securities laws. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. Federal securities laws. These statements involve risks and uncertainties that could cause actual results to differ materially from those contained in forward-looking statements made on behalf of the Company. These risks and uncertainties include the impact of general economic conditions and conditions affecting the insurance and reinsurance industry, the adequacy of our reserves, our ability to assess underwriting risk, trends in rates for property and casualty insurance and reinsurance, competition, investment market and investment income fluctuations, trends in insured and paid losses, catastrophes, pandemic, regulatory and legal uncertainties and other factors described in our latest Annual Report on Form 10-K. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. About Everest Re Group, Ltd. Everest Re Group, Ltd. (“Everest”) is a leading global provider of reinsurance and insurance, operating for close to 50 years through subsidiaries in the U.S., Europe, Singapore, Canada, Bermuda, and other territories. Everest offers property, casualty, and specialty products through its various operating affiliates located in key markets around the world. Everest common stock (NYSE:RE) is a component of the S&P 500 index. Additional information about Everest, our people, and our products can be found on our website at www.everestre.com. All issuing companies may not do business in all jurisdictions. __________________________________________________________________________ The Company generally uses operating income, a non-GAAP financial measure, to evaluate its performance. Operating income consists of net income (loss) excluding after-tax net realized capital gains (losses) and after-tax net foreign exchange income (expense). Everest Re Group, Ltd. (RE) Price$277.9RE (Common Stock)-1.59 (-0.57%)NYSE (U.S. Dollar)Volume: 134,676 Data as of 11/24/21 4:00PM EST (minimum 20-minute delay) A.M. BestA+ S&PA+ Moody'sA1 ReinsuranceUnited StatesCanadaBermudaLatin America and CaribbeanLondonContinental EuropeAsia PacificMiddle East and AfricaFacultativeReinsurance LocationsReinsurance LeadershipMt. Logan Re InsuranceProductsIndustriesServicesInsurance Claims & SupportInsurance LocationsInsurance LeadershipLloyd's SyndicateEverest Insurance (Ireland), DACEverest CanadaEverSports & Entertainment Insurance About EverestCorporate StructureLeadership—Board of DirectorsLeadership—Senior OfficersNewsOur LocationsPrivacy Security and Trust InvestorsInsightsCorporate Responsibility Connect with Everest Reinsurance: Connect with Everest Insurance: Copyright © 2011 - 2017 Everest Re Group, Ltd. - All Rights Reserved - Terms of Use - Privacy Notice Everest and the Flag Design are registered service marks and the Everest logo is a service mark of Everest Reinsurance Company. We use cookies and similar technologies to provide you with the best online experience. By continuing to use our site, you consent to the use of cookies on your devices in accordance with our cookie policy. For more information about how we use cookies or to change your cookie settings, please click here. ACCEPT ALL COOKIES