Everest Re in red with net loss of $73.5 million

Bermuda-based reinsurer Everest Re Group Ltd. posted a net loss of $73.5 million in the third quarter of the year versus a net income of $243 million in the year-ago comparable period, Reinsurance News reported. The reinsurer saw an underwriting loss of $323.4 million, driven by claims from the European summer floods and Hurricane Ida in the U.S. Meanwhile, reinsurance premiums increased 19% year-over-year to $2.5 billion.