Everest Re (RE) Tops Q3 EPS by 76c, Revenues Beat

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Everest Re Group Reports Third Quarter 2020 Results; Net Income of $243.1 Million and 16% Growth in Gross Written Premium Year Over Year

October 29, 2020 4:15 PM EDT

Net income available to Everest common shareholders of $243.1 million, equal to $6.07 per diluted common share, an 11.0% annualized return on average common equity Gross written premium of $2.8 billion, reflecting growth of 16% over the same quarter in 2019, comprised of Reinsurance segment growth of 20% and Insurance segment growth of 6%. Growth was driven by continued rate acceleration, new business opportunities and increased share with existing customers An attritional combined ratio excluding the impact of catastrophe and Covid-19 pandemic losses of 85.8%, an improvement vs. the 87.1% for the same quarter in 2019 Net investment income of $234.2 million Net operating... More