Everest Q4 2024 Earnings Report
Key Takeaways
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.
Full-year 2024 net income is expected to be in the range of $1.3 billion to $1.4 billion.
Full-year 2024 non-GAAP net operating income is projected to be in the range of $1.2 billion to $1.3 billion.
The company strengthened prior year U.S. casualty reserves, particularly in the Reinsurance and Insurance segments.
Everest is targeting a mid-teens total shareholder return over the cycle.
Everest
Everest
Forward Guidance
Everest will no longer be providing detailed forward guidance, but is targeting a mid-teens total shareholder return over the cycle.