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RE

Everest Re

$215.68

-1.98 (-0.91%)

16:17
01/24/19
01/24
16:17
01/24/19
16:17

Everest Re estimates Q4 catastrophe losses of $695M

Everest Re Group, Ltd. announced that it expects to incur in the fourth quarter 2018 catastrophe losses of $695M, net of reinsurance, reinstatement premiums and taxes. The catastrophe losses were related to the fourth quarter 2018 events of Hurricane Michael which impacted Florida and other states in the Southeastern US, the Camp and Woolsey wildfires in California, and the December hailstorm event in Australia. In total, Everest sees industry losses from these events potentially approaching $30B. The impact to Everest is primarily arising from its reinsurance operations, and as such is dependent upon the loss reporting from ceding insurers across many underlying insurance policies.

  • 12

    Feb

RE Everest Re
$215.68

-1.98 (-0.91%)

10/10/18
SBSH
10/10/18
INITIATION
Target $237
SBSH
Neutral
Everest Re initiated with a Neutral at Citi
Citi analyst James Naklicki started Everest Re with a Neutral rating and $237 price target. The analyst expects Everest Re's stock to be strong over the next month, saying the 2018 U.S. Property Catastrophe reinsurance pricing of 5% this quarter will be positive for margins. As such, he opened a "Catalyst Watch Positive" on the stock ahead of the company's Q3 results. However, Naklicki sees a negative catalyst on January 1, as he expects U.S. Property Catastrophe Reinsurance pricing to fall 2%.
08/07/18
FBCO
08/07/18
INITIATION
Target $239
FBCO
Neutral
Everest Re initiated with a Neutral at Credit Suisse
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.
06/18/18
GSCO
06/18/18
INITIATION
Target $280
GSCO
Buy
Everest Re initiated with a Buy on diversification at Goldman Sachs
Goldman Sachs analyst Yaron Knar initiated Everest Re with a Buy and $280 price target telling investors he expects insurance earnings growth to accelerate as premiums achieve critical mass over the next three years and offset platform costs. Knar expects insurance growth earnings to help Everest diversify away from property catastrophe exposure and lower underwriting volatility, providing a further re-rating of shares.
06/18/18
GSCO
06/18/18
INITIATION
Target $280
GSCO
Buy
Everest Re initiated with a Buy at Goldman Sachs
Goldman Sachs started Everest Re with a Buy rating and $280 price target.

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CRTO

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SSNLF

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BA

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MCD

McDonald's

$185.66

-1.11 (-0.59%)

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SSNLF

Samsung

$0.00

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AWR

American States Water

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MEOH

Methanex

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BECN

Beacon Roofing

$34.14

0.81 (2.43%)

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CTMX

CytomX Therapeutics

$10.76

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HPQ

HP Inc.

$18.97

-0.4 (-2.07%)

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  • 23

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PEGA

Pegasystems

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SMTC

Semtech

$52.59

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TMO

Thermo Fisher

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DJX

Dow Jones Industrial Average

$0.00

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MCD

McDonald's

$185.66

-1.11 (-0.59%)

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BA

Boeing

$370.52

8.37 (2.31%)

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ACHC

Acadia

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-0.59 (-1.96%)

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AAPL

Apple

$188.78

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ZFGN

Zafgen

$2.70

-0.15 (-5.26%)

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NOC

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$268.56

0.27 (0.10%)

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