Everest introduces new third-party capital platform

Everest Group has recently introduced Mt. Logan Capital Management, Ltd (MLCM) as part of its efforts to enhance its alternative capital business through a multi-vehicle capital management platform. Licensed by the Bermuda Monetary Authority (BMA), MLCM will act as the exclusive provider of risk-sharing and proportional underwriting capacity for Everest Group while also offering investment opportunities to institutional investors worldwide.

Institutional investors can now access Everest's reinsurance risk portfolio through MLCM, which includes the Mt. Logan Re collateralized reinsurance vehicle. This collaboration strengthens Everest's financial position, balance sheet, claims payment capacity, and overall reinsurance business growth.

The leadership team at MLCM is led by CEO John Modin and President/COO Youssef Sfaif. According to Modin, "Third-party capital management is a key component of Everest's strategy, drawing in institutional investors with a range of offerings and solid risk-adjusted returns." Modin also mentioned, "MLCM increases our flexibility to utilize Everest's $1.

5 billion third-party capital pool and invites new partners interested in global reinsurance investments." Jill Beggs, Everest's Reinsurance EVP and COO, highlighted the importance of creating attractive offerings for institutional investors that align with the underwriting portfolio. "MLCM offers various entry points to combine third-party capital with dedicated underwriting portfolios, optimizing our capital structure, creating new opportunities, and expanding Everest's presence in the market," added Beggs.