Everest traces its roots back to 1973 as the former reinsurance arm of The Prudential. On October 6, 1995, The Prudential successfully completed an initial public offering of 100% of the Company's outstanding stock and under the guidance of its Chairman and CEO, Joseph V. Taranto, the Company has become a leading international insurance and reinsurance organization, ranking amongst the largest reinsurers in the world.
Timeline of key events in its history:
Present
2014 - Gerri Losquadro is appointed to the Board of Directors of Everest Re Group, Ltd.
2014 - Dominic J. Addesso is named President and Chief Executive Officer
2014 - Joseph V. Taranto retires from his position of Chief Executive Officer and remains as Chairman of the Board
2013 - Mt. Logan Re, Ltd. was formed as a special purpose reinsurer to provide collateralized capacity to the worldwide property catastrophe reinsurance market
2013 - Everest Security Insurance Company (“ESIC”) entered into a definitive agreement with Arrowhead General Insurance Agency, Inc. (“Arrowhead”), a managing general agency, resulting in the transfer of certain assets and its employees to Arrowhead. In turn, Everest became the exclusive underwriter of the combined entities’ non-standard automobile book of business, providing for operational efficiencies and growth opportunities for both parties.
2012 - Dennis Alba joins as head of U.S. Reinsurance
2012 - Craig Howie is appointed to the position of Chief Financial Officer of Everest Re Group, Ltd.
2011 - Dominic J. Addesso is appointed to the position of President of Everest Re Group, Ltd.
2011 - John Doucette is appointed to the position of Chief Underwriting Officer
2011 - Chairman and Chief Executive Officer, Joseph V. Taranto, is named "Insurance Leader of the Year" by St. John's University School of Risk Management, in recognition of his outstanding achievements and leadership in the insurance industry
2011 - Premiere Insurance Underwriting Services, a managing general agent in Toronto, Canada, specializing in entertainment risks, is acquired. Premiere underwrites business on behalf of Everest Insurance Company of Canada
2010 - Heartland Crop Insurance, Inc., a managing general agent specializing in underwriting crop insurance is acquired. The acquisition provides Everest the opportunity to grow and diversify its direct insurance operations into shorter tail specialty lines
2009 - Everest Underwriting Group (Ireland), Limited and a subsidiary operating company, Everest Reinsurance Company (Ireland), Limited, are established. Based in Dublin, Ireland, the new entities enable Everest to offer its customers reinsurance security from a European Union-regulated operating company
2009 - An office in Cologne, Germany is opened to better serve the needs of its German and Eastern European based clients
2008 - Everest Re obtains approval by the Brazilian regulator, SUSEP, as an admitted reinsurer and opens a representative office in Rio de Janeiro under the name "Everest Reinsurance Company-Escritorio de Representacao No Brasil Ltda." to more efficiently serve the Brazilian market
2000 - 2005
2004 - Everest Reinsurance (Bermuda), Ltd. establishes a UK Branch and purchases Everest Reinsurance Company's UK operations
2001 - Southeastern Security Insurance Company changes its name to Everest Security Insurance Company.
2000 - AFC Re, Ltd., a Bermuda-based annuity/life reinsurer, is acquired from AFC Holdings, Ltd.
2000 - Gibraltar Casualty Company, a run-off property-casualty insurer domiciled in Delaware, is aquired. Immediately following the acquisition, Gibraltar's name is changed to Mt. McKinley Insurance Company
2000 - Everest Reinsurance (Bermuda), Ltd. is formed to write reinsurance in Bermuda and international markets
2000 - In a corporate restructuring, a newly formed holding company, Everest Re Group, Ltd. becomes the publicly traded parent of the Everest Re Group of companies
2000 - Southeastern Security Insurance Company, a Georgia insurer underwriting non-standard automobile business in Georgia, is acquired
1990's
1998 - An office is opened in Singapore to better serve customers in Asia
1997 - An office in Miami is established to better serve the Latin American and Caribbean markets
1997 - A. M. Best upgrades its ratings of Everest Re and Everest National to "A+"
1997 - Mt. McKinley Managers, L.L.C. ("Mt. McKinley"), a New Jersey limited liability company licensed as an insurance producer, including surplus lines authority, is formed
1997 - Everest Indemnity Insurance Company, a Delaware insurance company, is formed to engage in the excess and surplus lines insurance business in the United States
1997 - The European operation is converted from a corporate subsidiary to a branch, thereby allowing the full capital of Everest Re to support business written throughout the world
1996 - Everest Insurance Company of Canada, an insurer with federal and provincial licenses to write property and casualty insurance in Canada, is acquired
1996 - Prudential Re, Prudential National and Prudential Reinsurance Holdings adopt the "Everest" name
1995 - The Prudential sells its entire interest in Prudential Reinsurance Holdings' shares of common stock in a public offering
1993 - Prudential Reinsurance Holdings, Inc. is formed by The Prudential to serve as the parent holding company of Pru Re
1991 - Prudential National Insurance Co., a new Pru Re subsidiary, is established to provide primary property and casualty insurance
1980's
1987 - Pru Re forms dedicated units specializing in marine, aviation and surety business
1985 - Pru Re creates a second European subsidiary, Le Rocher, UK, headquartered in London
1970's
1979 - Pru Re establishes an Asian regional office in Hong Kong
1977 - Pru Re opens a full service Canadian office in Toronto
1976 - Pru Re establishes a European subsidiary, Le Rocher, based in Brussels
1973 - Prudential Reinsurance Company (Pru Re) is formed as a subsidiary of The Prudential Insurance Company of America
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