Everest
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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. -
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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Maria Grace had been with Everest since 2016, and was previously an executive within AIG’s Lexington unit.
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Several (re)insurer reporters do not anticipate the rate momentum to slow down materially even as they build on exposure growth.
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Rates for Japanese wind treaties increased between 5% and 10% at the April renewal, while quake pricing was up 5%.
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