Everest Re Group, Ltd. · Hamilton Bermuda ·(NYSE: RE)
Company Description
Phone: +1-441-295-0006
Fax: +1-441-295-4828
Toll Free: 800-269-6660
Rankings
- S&P 400
View Everest Re Group, Ltd. Locations On A US Map
This link will open in a new window
This link will open in a new window Everest Re Group is in peak form; it's the holding company for Everest Reinsurance Company (Everest Re), an underwriter of property & casualty reinsurance and insurance. Everest Re markets to US and international insurance companies directly and through independent brokers. Under its reinsurance arrangements, Everest Re assumes risks of policies written by other insurance companies. The company offers specialized underwriting in several areas, including property & casualty, marine, aviation, and surety, as well as medical malpractice, directors and officers liability, and professional errors and omissions liability. To read the full description, subscribe now.
Call Now at 866-464-3202 or Click here for a Free Hoover's Trial!
Key Everest Re Group, Ltd. Financials
| Company Type | Public - NYSE: RE Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $3,527.6 |
| 2008 Employees | 858 |
Everest Re Group, Ltd. Executives
24 executives listed for Everest Re Group, Ltd.'s Hamilton, location.
| Title | Name & Bio | Contact |
| Chairman and CEO | Joseph Taranto | Network |
| President and COO | Ralph Jones | Network |
| EVP and CFO | Dominic Addesso | Network |
Competition
Competitive Landscape for Everest Re Group, Ltd.
Demand is driven by demographics and commercial transactions. Demand is also driven by legal or financial requirements. Consumers are usually required by states to buy auto insurance and by lenders to buy homeowners insurance, for example. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future payments. Large companies have big economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by specializing in particular products or industries. Average annual revenue per worker is around $400,000, so the industry is not labor-intensive. In the late 2000s recession, insurers saw revenues decline sharply when their investment portfolios lost value after the market fell. Insurance carriers rely heavily on their investment portfolios, which is where they invest premiums collected until they are needed to pay claims or benefits. In addition, deregulation of the insurance and financial services industries led to increased risk taking that hurt insurers' credit ratings. Insurance giant AIG was forced to accept $150 billion in government loans to stave off bankruptcy that was brought on by its overexposure to credit default swaps. Federal government bailouts have primarily targeted banks. Aside from AIG, insurance companies have not been as hard hit by the subprime mortgage meltdown. But some insurance companies are seeking relief from state regulators to allow them to operate with less capital. Other insurance companies are buying financial institutions to qualify for federal aid. To read the full description, subscribe now.Top Everest Re Group, Ltd. Competitors
Call Now at 866-464-3202 or Click here for a Free Hoover's Trial!