Everest Re Group Ltd. announced yesterday its loss estimates from last year's hurricanes are being increased, and one analyst predicted other carriers will revise storm losses upward as well.
The Bermuda-based reinsurer said it raised loss estimates from the 2005 storms by $200 million to $1.2 billion.
In reaction, Bear Stearns senior property-casualty analyst David Small said, "We believe Everest Re will not be the last to disclose adverse development from the storms."
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