Everest Re cedes fewer premiums to collateralized reinsurance sidecar

Bermuda-based reinsurer Everest Re Group Ltd. ceded less to its Mt. Logan Re Ltd. collateralized reinsurance sidecar-like vehicle in the third quarter and first nine months of the year, which resulted into lower available capital under management, Artemis reported. Everest Re intends to grow Mt. Logan Re, which is an important component of the firm’s ongoing efforts to reduce its catastrophe exposures.