Everest Re (RE) Tops Q2 EPS by 38c
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Everest Re Group Reports Second Quarter 2020 Results
August 5, 2020 4:15 PM EDTShareholders equity increased to a record $9.3 billion, with book value per share of $232.32, up 3.8% compared to $223.85 at year-end 2019. Gross written premium of $2.4 billion, reflecting growth of 9.4% (10.7% excluding the impact of foreign exchange). Strong renewal rate change in Everest Insurance, up 18% excluding workers compensation and up over 12% including workers compensation. Combined ratio of 97.5% and $50.9 million of underwriting income, inclusive of $160 million of Covid-19 Pandemic (Pandemic) losses and $15 million of catastrophe losses. Attritional combined ratio excluding the Pandemic impacts improved to 88.5% vs. 88.6% in the same period last year. Net income of $190.9 million, net operating income of... More
