Everest Re Group raises 1.5 billion USD in funds

Everest Re Group is raising 1.5 billion USD in an initial public offering.

The Bermuda Group is selling 3 600 000 common shares with an option to purchase 540 00 additional shares at a price of 360 USD each.

The transaction would allow Everest Re to support the expansion of its existing business lines and operations.

The offer is expected to close by 19 May 2023.