Kilimanjaro Re cat bonds limit Ian downside for Everest Re
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Kilimanjaro Re cat bonds limit Ian downside for Everest Re

Rachel Dalton
27 October 2022
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Everest Re CEO Juan Andrade has emphasised that the firm had hedging in place against Hurricane Ian losses in the form of its Kilimanjaro Re cat bonds, recovery from which will start if the PCS industry loss for the storm exceeds $48bn.

This estimate currently stands at $41bn.  

Andrade added that the bonds entitle Everest Re to a pro-rata recovery that exhausts when PCS estimates reach $60bn.

On

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