Everest Re

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Everest Re subsidiary sued for $52 m in Ohio by quadriplegic shooting victim and shooter

December 11, 2007
A U. S. subsidiary of Bermuda-domiciled Everest Re Group Ltd. is fighting an attempt to hold it responsible for a $52.4 million judgment against one of its insureds. Everest Indemnity Insurance Company, a Delaware corporation based in New Jersey, is embroiled in litigation at state and federal courts in Ohio with Joshua Doepker, Kevin Johnson, and Willo Security Inc.

Everest Re appears to have won arbitration with Mutual of Enumclaw

August 10, 2007
Everest Reinsurance Company appears to have come out on top in arbitration proceedings with U. S.-based Mutual of Enumclaw Insurance Company.That is the most obvious inference from an application to confirm an arbitration award that was filed by Everest Re at the U. S. District Court for the Western District of Washington on July 27, 2007.

XL and AWAC settle Hurricane Katrina-related lawsuit in Louisiana

February 9, 2007
Two Bermuda insurers have settled a civil lawsuit in which a waste management insured accused them of failure to pay claims stemming from Hurricane Katrina. A stipulation of dismissal was entered on February 5, 2007 in an action that was filed by Waste Management Inc., a Delaware corporation based in Houston, Texas; Waste Management Louisiana LLC, a Delaware corporation based in Baton Rouge, Louisiana; and Waste Management of Mississippi Inc., a Mississippi corporation based in Baton Rouge, Louisiana, against XL Insurance (Bermuda) Ltd., and Allied World Assurance Company Ltd. at the U. S. District Court for the Eastern District of Louisiana on August 25, 2006.

Fidelity increases investment in Bermuda insurance market

July 10, 2006
Mutual fund firm Fidelity has increased its position as the largest single investor group in the Bermuda insurance and reinsurance market.The Boston, Massachusetts-based group owns at least five per cent of the common shares of 12 of the 16 companies whose ownerships were reviewed by InsideBermuda, compared with eight of 14 companies in a similar review last year. As of June 30, 2006, Fidelity's total stake in the Bermuda market had a stock market value of approximately $5.6 billion.

Everest Re seeks to have arbitration ruling overturned

December 31, 2001
Everest Reinsurance Company, whose parent company is domiciled in Bermuda, is being sued in Texas by an insurer seeking to enforce an arbitration award.American National Insurance Company filed the lawsuit at the United States District Court for the Southern District of Texas on December 7, 2001.

XL Capital and PartnerRe report Enron losses

December 31, 2001
XL Capital and PartnerRe had at least two things in common in December - they both announced large exposures relating to the collapse of Enron Corp. and they both filed shelf registration statements with the SEC.The registrations will allow them to sell up to $2.1 billion worth of securities, with XL accounting for $1.5 billion of that amount and PartnerRe $600 million.

Everest Re buys secretive Bermuda reinsurer AFC Re

December 31, 2000
One of the most secretive commercial reinsurers in Bermuda has been sold after three years in business, about two-thirds of which it appears to have been up for sale. AFC Re, which was capitalized at $100 million when it formed in October, 1997, was bought for $17 million in cash by Everest Re (Bermuda) in a deal that was announced on December 22, 2000.