Everest’s $323mn underwriting loss on cats overshadows strong underlying gain
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Everest’s $323mn underwriting loss on cats overshadows strong underlying gain

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Everest Re reported an underwriting loss of $323.4mn in Q3, reflecting the impacts of $635mn in catastrophe losses, including Hurricane Ida and the Bernd European floods, net of recoveries and reinstatement premiums.

The firms’ combined ratio of 112.2% included 26.2 points of catastrophe losses, versus 14.0 points in Q3 2020. 

The catastrophe loss had more than doubled from $300mn in Q3 2020, with the impact on the CR also more than doubling.

The...

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