Fitch Affirms Everest Re 'A-' Rating

Fitch Ratings has yesterday affirmed the 'A-' senior debt and long-term issuer rating of Everest Reinsurance Holdings, Inc (Everest Holdings). The Rating Outlook is Stable. The rating is based upon Everest Holding's operating subsidiaries' consistent performance and good market position since its spin-off from Prudential Insurance Company in 1995. The company has demonstrated good underwriting results relative to peers, adequate capitalization and good balance sheet quality despite a difficult underwriting year in 2001. Hardening market conditions have led to a sound improvement in results d...