Asbestos hits Everest 4Q but analysts happy
Bermudian reinsurer, Everest Re saw its fourth quarter combined ratio battered as it felt the effect of its recent bolstering of asbestos-related reserves, but market analysts reacted favourably to the clean-up operation.
The overall combined ratio of 108.4% included 31.2% of asbestos additions following last week's announcement of a $311m net asbestos charge, 10.0% of favourable reserve adjustments and 0.9% of
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