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Everest Re Group Ltd. on Thursday estimated that its pre-tax catastrophe net losses from Hurricane Ida and European floods will be $635 million.
The Bermuda-based insurer and reinsurer expects third-quarter losses from Hurricane Ida, which hit the Gulf Coast in August before causing flooding in the Northeast, to total $415 million. Losses from the European floods, which hit a wide area in July, will be $220 million.
In 2020, Everest reported $300 million in pre-tax catastrophe losses for the third quarter.
Everest will release its 2021 third-quarter results on Oct. 27.
Bermuda-based reinsurer Everest Re Group Ltd. has promoted Peter Bell to the role of senior vice president, chief executive and managing director of Bermuda for its reinsurance division, Artemis reported. Previously, Mr. Bell was deputy managing director of Bermuda. The reinsurer has also promoted Ari Moskowitz to be SVP, chief operations officer of the reinsurance division.