NYSE, RE - Everest Re Group
Group, a Bermuda company, was established in 1999 as a wholly-owned subsidiary
of Holdings. On February 24, 2000, a corporate restructuring was completed and
Group became the new parent holding company of Holdings. Holdings continues to
be the holding company for the Company?s U.S. based operations. Holders of
shares of common stock of Holdings automatically became holders of the same
number of common shares of Group. Prior to the restructuring, Group had no
significant assets or capitalization and had not engaged in any business or
prior activities other than in connection with the restructuring.
In connection with the restructuring, Group established a Bermuda-based
reinsurance subsidiary, Everest Reinsurance (Bermuda), Ltd. (?Bermuda Re?),
which commenced business in the second half of 2000. Group also formed Everest
Global Services, Inc., a Delaware subsidiary, to perform administrative and
back-office functions for Group and its U.S. based and non-U.S. ...
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