Everest Re (RE) Provides Preliminary Information on First Quarter 2021 Catastrophe Losses

Everest Re Group, Ltd. (“Everest” or the “Company”) (NYSE: RE) announced today preliminary information on first quarter 2021 catastrophe losses in advance of its full quarterly earnings to be released on April 28, 2021.

Everest is estimating pre-tax net catastrophe losses for the first quarter 2021 as detailed in the table below.

• All amounts are net of reinsurance recoveries and reinstatement premiums
• For the Texas winter storms Everest is estimating insured industry losses of approximately $15 billion

Everest is not adding to its Covid-19 Pandemic loss provision. To date, the Company’s total Pandemic loss provision is $511 million, of which approximately 80% remains as IBNR.

Everest Re Group President & CEO Juan C. Andrade Commented: “Our thoughts and sympathies go out to all those affected by these recent catastrophe events. We are proud to be able to help communities rebuild when events such as these take place.”

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