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NEWS RELEASE
 
EVEREST RE GROUP,
 
LTD.
Seon Place, 141 Front Street, 4
th
 
Floor, Hamilton HM 19, Bermuda
Contacts
Media: Dawn Lauer
 
Investors: Jon Levenson
Chief Communications Officer
 
Head of Investor Relations
Everest Global Services, Inc.
 
Everest Global Services, Inc.
908.300.7670
 
908.604.3169
Everest Announces Estimated Third Quarter 2021 Catastrophe Losses
HAMILTON,
 
Bermuda --
 
(BUSINESS WIRE)
 
– October
 
14, 2021
 
– Everest Re Group, Ltd. (“Everest”
 
or
the “Company”)
 
(NYSE:RE)
 
announced
 
today preliminary
 
third quarter
 
2021 catastrophe
 
losses in advance
 
of
its full
 
quarterly
 
earnings
 
to be released
 
on October
 
27, 2021.
Everest
 
is
 
estimating
 
total
 
pre-tax
 
net
 
catastrophe
 
losses
 
of
 
$635
 
million
 
for
 
the
 
third
 
quarter
 
2021
 
as
detailed in the table below.
 
●
All amounts are net of recoveries and reinstatement premiums
●
For Hurricane Ida, Everest is estimating insured industry losses of approximately $28-$30 billion
●
For
 
the
 
July European
 
floods,
 
Everest is
 
estimating
 
insured
 
industry
 
losses of
 
approximately
 
$12
billion
Amounts in USD (millions)
Reinsurance
Segment
Insurance
Segment
Event Totals
Hurricane Ida
335
80
415
European Floods
220
0
220
Segment Totals
555
80
635
 
2
“The
 
widespread
 
impact
 
of
 
natural
 
catastrophes
 
in
 
the
 
third
 
quarter
 
has
 
affected
 
communities
around
 
the
 
world,”
 
said
 
Juan
 
C.
 
Andrade,
 
President
 
and
 
CEO
 
of
 
Everest
 
Re
 
Group.
 
“Our
thoughts
 
are
 
with
 
all
 
of
 
those
 
affected,
 
and
 
we
 
stand
 
ready
 
to
 
help
 
our
 
customers
 
and
communities as they rebuild, recover and emerge even stronger.”
About Everest Re Group, Ltd.
 
Everest Re
 
Group, Ltd.
 
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.
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,
including the expected
closing
 
and
 
use
 
of
 
proceeds
 
from
 
the
 
debt
 
offering.
 
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 losses,
regulatory
 
and
 
legal
 
uncertainties
 
and
 
other
 
factors
 
described
 
in
 
our
 
latest
 
Annual
 
Report
 
on
Form 10-K.
 
Everest
 
undertakes
 
no obligation
 
to publicly
 
update
 
or
 
revise
 
any
 
forward-looking
statements, whether as a result of new information, future events or otherwise.