Everest Re Group Announces Net Reserve Adjustments for Second Quarter 2018
The prior year catastrophe adjustments primarily relate to the 2017 hurricane events – Harvey, Irma and Maria. The increase in estimates was mostly driven by re-opened claims reported in the second quarter and loss inflation from higher than expected loss adjustment expenses and, in particular, their impact on aggregate covers.
In addition, current year weather related events are expected to result in a second quarter charge of approximately
Everest expects to report net income for the second quarter of 2018.
Commenting on these adjustments,
This news release contains forward-looking statements within the meaning of the
View source version on businesswire.com: https://www.businesswire.com/news/home/20180719005967/en/
Executive Vice President and Chief Financial Officer
Source:
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