Everest Earnings Reports

Everest Group announced preliminary full-year 2024 results, including a net income range of $1.3 billion to $1.4 billion and a non-GAAP net operating income range of $1.2 billion to $1.3 billion. These results include significant strengthening of prior-year loss reserves, particularly in U.S. casualty lines, and the company has taken underwriting actions to address social inflation. Everest also announced a new target objective to deliver a mid-teens total shareholder return over the cycle.

Everest Group reported a strong fourth quarter and full-year 2023, with record annual net income of $2.5 billion and operating income of $2.8 billion. The company's performance was driven by growth in gross written premiums, improved combined ratios, and strong net investment income.

Everest Group reported a strong third quarter in 2023, marked by significant growth in gross written premiums, particularly in the reinsurance segment, and improved underwriting margins. The company's net income reached $678 million, and operating income was $613 million, driven by underwriting improvements and strong investment income.

Everest Group reported a strong second quarter in 2023, with record operating income of $627 million and net income of $670 million. The company experienced significant growth in gross written premiums, particularly in reinsurance, and improved its combined ratio. Strong investment income and operating cash flow contributed to the positive results.

Everest Re Group reported a strong start to the year with significant underwriting profit, a 17.2% operating return on equity, and a total shareholder return in excess of 14%. The company delivered profitable growth across both underwriting franchises, particularly in reinsurance, and continued to invest in scaling its primary business.

Everest Re Group reported a net income of $496 million and a net operating income of $478 million for Q4 2022. The company's combined ratio was 87.8%, and the operating cash flow was $1.0 billion. The results reflect continued underwriting margin improvement and strong execution.

Everest Re Group reported a challenging third quarter in 2022, marked by a net loss of $319 million and a net operating loss of $205 million. These results were primarily driven by significant catastrophe losses, including Hurricane Ian, and volatile market conditions. Despite these challenges, the company's diversification strategy and underwriting discipline helped in mitigating losses. Both the Insurance and Reinsurance segments delivered sub-90 attritional combined ratios, and the company continued to grow and diversify across geographies, businesses, and product lines.

Everest Re Group reported a net income of $123 million for the second quarter of 2022, with a combined ratio of 91.8%. The company's net operating income was $386 million, reflecting a 15.3% annualized operating ROE. Gross written premiums grew by 8.1% year over year, with notable growth in the Insurance segment.

Everest Re Group reported a strong start to 2022, with a net operating income of $406 million and a net income of $298 million. The company achieved a combined ratio of 91.6% and experienced growth in gross written premiums across both Reinsurance and Insurance segments.

Everest Re Group reported a strong fourth quarter and full year 2021 results, marked by a 25% growth in gross written premium and a 91.9% combined ratio for the quarter. The company achieved a net income of $431 million for the quarter and a 14.7% total shareholder return for the year.

Everest Re Group reported a net loss of $73.5 million for the third quarter of 2021, primarily due to $635 million in pre-tax net catastrophe losses. Despite the loss, the company achieved gross written premium growth of 25% year over year, with significant growth in both the insurance and reinsurance segments. The attritional combined ratio was 87.9%, and net investment income was robust at $293 million.

Everest Re Group reported excellent second-quarter results with strong growth, outstanding underwriting, and investment performance. The company's net income was $680 million, with a combined ratio of 89.3%. Gross written premium grew by 35%, and net written premium increased by 39%.

Everest Re Group reported a strong start to 2021, with robust growth, strong overall profitability, continued improvement in attritional underwriting margins, and excellent investment performance. The company reported a net income of $342 million, or $8.52 per share, and net operating income of $260 million, or $6.49 per share. Gross written premium grew by 14%, and the attritional combined ratio improved to 87.3%.

Everest Re Group reported Q4 2020 results, including a net income of $64 million or $1.59 per share, and a net operating loss of $44 million or $(1.12) per common share. The company experienced gross written premium growth of 13%. The attritional combined ratio was 86.3%, a 4 point improvement year over year. The pre-tax net catastrophe losses of $70 million, Covid-19 Pandemic (“Pandemic”) losses of $76 million, and a prior year reserve strengthening of $400 million.

Everest Re Group reported a net income of $243.1 million for the third quarter of 2020, a significant increase compared to the $104.4 million reported for the same period in 2019. The company experienced a 16% growth in gross written premium, driven by both Reinsurance and Insurance segments. The attritional combined ratio improved to 85.8%.

Everest Re Group reported a net income of $190.9 million for the second quarter of 2020, with gross written premiums increasing by 9.4%. The combined ratio was 97.5%, including significant losses from the Covid-19 Pandemic and civil unrest. The company's balance sheet remains strong, with record shareholder's equity of $9.3 billion.

Everest Re Group reported a net income of $16.6 million for the first quarter of 2020, a significant decrease compared to $354.6 million in the first quarter of 2019. The company's after-tax operating income was $164.4 million, compared to $282.4 million for the same period in 2019. The combined ratio for the quarter was 98.6%, which includes $150 million in net pre-tax IBNR losses related to the Covid-19 pandemic. Gross written premiums increased by 21% to nearly $2.6 billion.

Everest Re Group reported a net income of $217.6 million for the fourth quarter of 2019, a significant improvement compared to the net loss of $385.3 million in the same period of 2018. The combined ratio was 101.5%, and the attritional combined ratio was 90.3%. Catastrophe losses amounted to $215.0 million, and prior year development was $19.2 million favorable. Net investment income was $146.1 million.