Everest Re Group, Ltd. (NYSE: RE) announced today that its newly formed
subsidiary, Everest Reinsurance Company (Ireland), Limited, has been
granted a license by the Irish Financial Services Regulatory Authority
to operate as an authorized non-life reinsurer in Ireland, which enables
the Company to operate throughout the European Union (EU) under a single
regulatory framework.
Headquartered in Dublin, Everest Reinsurance Company (Ireland), Limited,
together with its direct parent, Everest Underwriting Group (Ireland)
Limited, form a hub for Everest’s Continental European operations and
complements its existing operations in London and Brussels, and its new
operation in Cologne, adding to the breadth of its worldwide franchise.
Everest Reinsurance Company (Ireland), Limited has been rated A+
(Strong) by Standard and Poor’s and A+ (Superior) by A.M. Best,
recognizing the importance of this entity to the overall group.
Mark de Saram, Chairman of the Everest Reinsurance Company (Ireland),
Limited Board of Directors, said “With over thirty years experience
operating on the European continent, Everest is recognized for
underwriting and service excellence. Our Irish company enhances our
position in this important market and increases our operating
flexibility by giving our customers access to our highly rated security
through a European Union regulated company.”
Everest Re Group, Ltd. is a Bermuda holding company that operates
through the following subsidiaries: Everest Reinsurance Company provides
reinsurance to property and casualty insurers in both the U.S. and
international markets. Everest Reinsurance (Bermuda), Ltd., including
through its branch in the United Kingdom, provides reinsurance and
insurance to worldwide property and casualty markets and reinsurance to
life insurers. Everest Reinsurance Company (Ireland), Limited provides
reinsurance to non-life insurers in Europe. Everest National Insurance
Company and Everest Security Insurance Company provide property and
casualty insurance to policyholders in the U.S. Everest Indemnity
Insurance Company offers excess and surplus lines insurance in the U.S.
Additional information on Everest Re Group companies can be found at the
Group’s web site at www.everestre.com.
Everest Global Services, Inc.
Elizabeth B. Farrell
Vice
President, Investor Relations
908-604-3169
