Everest Re is a Bermuda-based provider of

reinsurance Reinsurance is insurance that an insurance company purchases from another insurance company to insulate itself (at least in part) from the risk of a major claims event. With reinsurance, the company passes on ("cedes") some part of its own ins ...

and insurance, operating for close to 50 years through subsidiaries in the U.S., Europe, Singapore, Canada, Bermuda and other territories.

History

In 1973, Everest Re Group was founded as Prudential Reinsurance, a subsidiary of

Prudential Financial Prudential Financial, Inc. is an American Fortune Global 500 and Fortune 500 company whose subsidiaries provide insurance, retirement planning, investment management, and other products and services to both retail and institutional customers ...

. In the 1990s, Prudential Financial considered selling or spinning off Prudential Reinsurance. On October 6, 1995, Prudential Reinsurance completed an IPO. The chairman and CEO at that time was Joseph V. Taranto. Prudential Reinsurance was renamed Everest Re in 1996, after

Mount Everest Mount Everest (; Tibetan: ''Chomolungma'' ; ) is Earth's highest mountain above sea level, located in the Mahalangur Himal sub-range of the Himalayas. The China–Nepal border runs across its summit point. Its elevation (snow ...

. In 2017, Everest Re became a S&P 500 component.

Business

Everest offers property, casualty, and specialty products through its various operating affiliates located in key markets around the world.

Expanded history

* Early years as Prudential * Founded in 1973 ** Financial Services ** Reinsurance Arm * 1996 renaming to Everest Reinsurance

Business segments

* Reinsurance * Insurance

References

External links

{{Authority control Financial services companies established in 1973 Reinsurance companies Companies listed on the New York Stock Exchange Hamilton, Bermuda Insurance companies of Bermuda