Everest Re sponsors $375 million-plus cat bond

Posted On: Nov. 20, 2019 4:51 AM CST

Bermuda-based reinsurer Everest Re Group Ltd. is sponsoring Kilimanjaro III Re Ltd. catastrophe bond worth at least $375 million, Artemis reports. The cat bond will provide Everest Re with retro reinsurance protection against certain losses caused by named storms and earthquakes hitting the United States, Puerto Rico, U.S. Virgin Islands, D.C. and Canada.