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Fly News Breaks for August 7, 2018
RE
Aug 7, 2018 | 08:47 EDT
Credit Suisse analyst Michael Zaremski started Everest Re with a Neutral rating and $239 price target. Given the company's critical 5-plus point expense ratio advantage and its relatively small size at less than 2% market share, the analyst views it as continuing to be a relative winner in what he foresees to be a shrinking universe of economics for traditional reinsurers. Ultimately, Zaremski feels traditional reinsurance distribution channels are increasingly being disrupted, which is why Everest's strategy has been evolving via diversifying into primary insurance and building out its third-party capital platform, called Mt. Logan Re.
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