Everest Group, Ltd 8-K, filed Oct 19, 2022
Everest Group, Ltd. (EG)
8-K
2022-10-19
For: 2022-10-19
View Original
Added on
April 08, 2026
About this 8-K
Everest Group, Ltd filed this 8-K on October 19, 2022.
Items reported
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
Current Report Pursuant to Section 13 OR 15(d) of
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☐
ITEM 7.01
REGULATION FD DISCLOSURE
On October 19, 2022, the registrant issued a news release announcing preliminary catastrophe loss information for
third quarter 2022. For the third quarter of 2022, the registrant announced preliminary pre-tax catastrophe losses of
$730 million, net of reinsurance recoveries and reinstatement premiums, related to Hurricane Ian and other events.
ITEM 9.01
FINANCIAL STATEMENTS AND EXHIBITS
(c)
Exhibits
Exhibit No.
Description
99.1
News Release of the registrant,
dated October 19, 2022
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned hereunto duly authorized.
EVEREST RE GROUP, LTD.
By:
/S/ ROBERT J. FREILING
Robert J. Freiling
Senior Vice President and
Chief Accounting Officer
Dated: October 19, 2022
EXHIBIT INDEX
Exhibit
Number
Description of Document
Page No.
5
104
Cover Page Interactive Data File (embedded
within the Inline XBRL document
1
NEWS RELEASE
EVEREST RE GROUP, LTD.
Seon Place, 141 Front Street, 4
th
Contacts
Media: Dawn Lauer Investors: Matt Rohrmann
Chief Communications Officer Head of Investor Relations
Everest Global Services, Inc. Everest Global Services, Inc.
908.300.7670 908.604.7343
Everest Announces Preliminary Impact of Third Quarter 2022 Catastrophe Events
HAMILTON, Bermuda -- (BUSINESS WIRE) – October 19, 2022 – Everest Re Group, Ltd. (“Everest” or the
“Company”) (NYSE:RE) announced today preliminary third quarter 2022 catastrophe losses in advance of its full
quarterly earnings to be released on October 26, 2022.
●
Everest is estimating total pre-tax net catastrophe losses of $730 million for the third quarter 2022 as detailed in
the table below. All amounts are net of estimated recoveries and reinstatement premiums
o
For Hurricane Ian, Everest’s loss estimate is based on insured industry losses of approximately $55
billion, driven in part by the significant social inflation in Florida
o
For all other global catastrophe events, Everest’s loss estimate is based on insured industry losses of
approximately $15 billion
Amounts in USD (millions)
Reinsurance
Segment
Insurance
Segment
Event Totals
Hurricane Ian
$500
$100
$600
All Other Events
120
10
$130
Segment Totals
$620
$110
$730
“Our thoughts are with those impacted by the severe weather events across the globe. We are dedicated to supporting
our customers in their time of need,” said Juan C. Andrade, President and CEO of Everest Re Group. “Hurricane Ian
is likely to be the second largest hurricane driven industry loss in U.S. history. Everest’s focused execution of its
diversification strategy combined with our underwriting discipline, has mitigated our total exposure to
2
approximately 1% of our currently estimated Hurricane Ian industry loss with our reinsurance division expected to be
less than 1%.”
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.