Everest Re expects reinsurance renewal rates to increase for property catastrophe, specialty and casualty lines, Goldman Sachs analysts have said, following a meeting with the reinsurer's management team. Most of Everest Re's resinsurance growth has come from mortgage reinsurance and structured/credit. The company's wildfire reinsurance losses could reach $400m last year's, based on its $285m share of this year $13bn losses from Californian wildfires, according to Goldman Sachs. In response to such losses, Everest Re is moving away from property catastrophe.
Everest Re expects reinsurance renewal rates to increase for property catastrophe, specialty and casualty lines, Goldman Sachs analysts have said, following a meeting with the reinsurer's management team. Most of Everest Re's resinsurance growth has come from mortgage reinsurance and structured/credit. The company's wildfire reinsurance losses could reach $400m this year, based on its $285m share of last year's $13bn losses from Californian wildfires, according to Goldman Sachs. In response to such losses, Everest Re is moving away from property catastrophe.