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Everest Re Group Ltd. And Operating Subsidiaries May 11
Standard & Poors, May 2011
Abstract
Strong competitive position, with a global market reach. Very strong risk-adjusted capitalization. Strong financial flexibility, with strong leverage metrics. Underperformance of the insurance segment. Increased earnings' volatility because of natural catastrophe losses and low reinsurance usage. The ratings on Bermuda-based Everest Re Group Ltd. (Everest Group) and its U.S.-based intermediary holding company, Everest Reinsurance Holdings Inc. (Everest Holdings), and their operating subsidiaries (collectively referred to as Everest or the company) reflect the company's strong competitive position and global market reach, its very strong capital adequacy, and its strong financial flexibility. Partially offsetting these strengths are the insurance segment's underperformance and the increased earnings' volatility stemming from natural catastrophe losses and low reinsurance utilization. Everest Group and Everest Holdings' operating subsidiaries...
Companies mentioned in this report are: Everest Reinsurance Co.,Everest National Insurance Co.,Everest Reinsurance Holdings Inc.,Everest Re Group Ltd.,Everest Reinsurance (Bermuda) Ltd.,Everest Reinsurance Company (Ireland) Ltd.
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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