Everest Group Allies With Arrowhead General Insurance Agency

Officials for the Everest Re Group have announced that its wholly-owned primary insurance subsidiary, Everest Security Insurance Company, has entered into a definitive agreement with Arrowhead General Insurance Agency Inc., a subsidiary of Brown & Brown, whereby ESIC will transfer certain assets associated with its non-standard automobile business to Arrowhead.

Effective April 1, all of ESIC's employees became employees of Arrowhead and Everest will become the exclusive underwriter of the combined non-standard automobile book of business for Arrowhead. This strategic alliance will grow Everest's non-standard automobile business from $30 million to approximately $80 million under the combined book. The pairing of Everest's financial strength with Arrowhead's longstanding expertise in the non-standard automobile sector creates operational efficiencies and growth opportunities for both parties.

“I am very pleased to expand our current business relationship with Arrowhead,” said Daryl Bradley, President of Everest's primary insurance operations. “This alliance gives Everest immediate scale in the non-standard automobile sector and the ability to utilize Arrowhead's infrastructure and technology capabilities to expand our market share in this sector.”

A history of cooperation between the two insurance operations facilitated the merger.

“The decision to enter into this agreement developed from Arrowhead's longstanding relationship with Everest as it currently writes several programs with Arrowhead,” said Chris Walker, CEO, Arrowhead. “Everest is a blue chip company with exceptional financial strength and smart, creative people driven to produce strong results," Walker further commented, "Fortunately, we have built longstanding business and personal relationships with the Everest team and frequently discuss program opportunities. This venture will allow Everest to further tap into our infrastructure and technology capabilities as we work together to scale the program for growth. It truly is a win-win scenario.”

Everest Re Group, Ltd. is a Bermuda holding company that operates through the following subsidiaries: Everest Reinsurance Company provides reinsurance to property and casualty insurers in both the U.S. and international markets. Everest Reinsurance (Bermuda), Ltd., including through its branch in the United Kingdom, provides reinsurance and insurance to worldwide property and casualty markets and reinsurance to life insurers. Everest Reinsurance Company (Ireland), Limited provides reinsurance to non-life insurers in Europe. Everest National Insurance Company and Everest Security Insurance Company provide property and casualty insurance to policyholders in the U.S. Everest Indemnity Insurance Company offers excess and surplus lines insurance in the U.S. Everest Insurance Company of Canada provides property and casualty insurance to policyholders in Canada.

Arrowhead General Insurance Agency is headquartered in San Diego and is an independent national insurance program manager for commercial, personal and specialty products and is one of the largest general agencies in the U.S. with more than $800 million written premium.

Arrowhead's relationships with strong general insurance carriers provide stability for its nationwide network of producers. For more information about its products and services, please visit their website at www.arrowheadgrp.com. Arrowhead is a subsidiary of Brown & Brown Inc., which is ranked by Business Insurance magazine as the United States' sixth-largest independent insurance intermediary with $1 billion total revenue. The Allstate Insurance Co. is the largest publicly held insurer in the United States.