Everest Re Group, Ltd. Announces Pricing of Public Offering of 3,600,000 Common Shares
The Company intends to use the net proceeds from this offering for general corporate purposes, which may include expanding its existing business lines and operations.
The shares are being offered pursuant to an effective shelf registration statement that has been filed with the
About Everest
Everest is a global underwriting leader providing best-in-class property, casualty, and specialty reinsurance and insurance solutions that address customers’ most pressing challenges. Known for a 50-year track record of disciplined underwriting, capital and risk management, Everest, through its global operating affiliates, is committed to underwriting opportunity for colleagues, customers, shareholders, and communities worldwide.
Everest common stock (NYSE: RE) is a component of the S&P 500 index.
Cautionary Statement Regarding Forward-Looking Statements
Any forward-looking statements made in this Press Release reflect Everest’s current views with respect to future events and financial performance and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are subject to numerous factors that could cause actual results to differ materially from those set forth in or implied by such forward-looking statements, including the following: the effects of catastrophic and pandemic events on the Company’s financial statements; estimates of the Company’s catastrophe exposure; the Company’s reserves for losses and loss adjustment expenses; the Company’s failure to accurately assess underwriting risk; decreases in pricing for property and casualty reinsurance and insurance; the Company’s ability to maintain its financial strength ratings; the failure of the Company’s insured, intermediaries and reinsurers to satisfy their obligations; the Company’s inability or failure to purchase reinsurance; consolidation of competitors, customers and insurance and reinsurance brokers; the effect on the Company’s business of the highly competitive nature of its industry, including the effect of new entrants to, competing products for and consolidation in the (re)insurance industry; the Company’s ability to retain its key executive officers and to attract or retain the executives and employees necessary to manage its business; the performance of the Company’s investment portfolio; the Company’s ability to determine any impairments taken on its investments; foreign currency exchange rate fluctuations; the effect of cybersecurity risks, including technology breaches or failure, on the Company’s business; the impact of the Tax Cut and Jobs Act; the adequacy of capital in relation to regulatory required capital; the adequacy of the Company’s provision for uncollectible balances; the ability of
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Media:
Chief Communications Officer
908.300.7670
Investors:
Head of Investor Relations
908.604.7343
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