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MarketScreener Homepage  >  Equities  >  Nyse  >  Everest Re Group, Ltd.    RE   BMG3223R1088

EVEREST RE GROUP, LTD.

(RE)
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AM Best : Assigns Issue Credit Rating to Everest Reinsurance Holdings, Inc.'s Senior Unsecured Notes

10/08/2020 | 10:13am EST

AM Best has assigned a Long-Term Issue Credit Rating of “a-” to the $1 billion, 3.50%, 30-year senior unsecured notes, due Oct.15, 2050, recently announced by Everest Reinsurance Holdings, Inc., a subsidiary of Everest Re Group Ltd. (Everest) (Bermuda) [NYSE: RE]. The outlook assigned to this Credit Rating (rating) is stable.

The proceeds from the sale of the notes will be used for general corporate purposes. Everest’s financial leverage remains well within AM Best’s guidelines to support its ratings. AM Best anticipates that Everest’s coverage ratios will remain strong and well supportive of the current ratings.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2020 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.


© Business Wire 2020
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Financials (USD)
Sales 2020 8 994 M - -
Net income 2020 493 M - -
Net Debt 2020 - - -
P/E ratio 2020 19,9x
Yield 2020 2,54%
Capitalization 9 785 M 9 785 M -
Capi. / Sales 2020 1,09x
Capi. / Sales 2021 0,97x
Nbr of Employees 1 603
Free-Float 56,4%
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Mean consensus OUTPERFORM
Number of Analysts 9
Average target price 271,89 $
Last Close Price 244,72 $
Spread / Highest target 25,9%
Spread / Average Target 11,1%
Spread / Lowest Target 0,11%
EPS Revisions
Managers and Directors
NameTitle
Juan C. Andrade President, Chief Executive Officer & Director
Mark Kociancic Chief Financial Officer & Executive Vice President
Joseph V. Taranto Chairman
Ralph H. Groce Chief Information Officer & Senior Vice President
Jim Williamson Chief Operating Officer & Executive Vice President
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