Strategic alliance between Everest National Insurance Company and AEGIS now in place

Everest RE Group Limited’s US primary specialty insurance arm, Everest National Insurance Company, has announced that it has entered into a strategic alliance with mutual insurer Associated Electric and Gas Insurance Services (AEGIS).

Everest National Insurance Company hopes that it will be able to use its admitted products and risk transfer capability, combined with its claims service and strong balance sheet, to offer utility and energy coverage to AEGIS’ member and non-member clients via the alliance.

Over the past 52 weeks Everest RE Group Limited’s stock has been trading with a low of 165.53 and a high of 193.98. The technical indicators show a 50-day moving average of 178.33. Recent trading has put Everest RE Group stock at a change of 3.75 from the 50-day moving average, which is +2.10%.

Five analysts have recently given their earnings per share estimates for Everest RE Group Limited. The consensus analysts’ earnings per share expectation for the company for the 4th quarter of the fiscal year ending in 2016 is $5.27.

Talking about the new alliance, Jonathan Zaffino, President of Everest National Insurance Company, commented: “We are proud to partner with AEGIS to offer leading products and services to their member and non-member clients. We are excited to begin this new venture and support its success with our vast reach of admitted product capability and risk transfer solutions, leading claims services and the strength of our balance sheet. We look forward to a long-term and beneficial relationship with AEGIS and their member and non-member clients alike.”