Company History

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 our history

2006 - 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