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Everest Provides Preliminary Information on First Quarter 2021 Catastrophe Losses
April 19, 2021 GMT
HAMILTON, Bermuda (BUSINESS WIRE) Apr 19, 2021
Everest Re Group, Ltd. (“Everest” or the “Company”) announced today preliminary information on first quarter 2021 catastrophe losses in advance of its full quarterly earnings to be released on April 28, 2021.
Everest is estimating pre-tax net catastrophe losses for the first quarter 2021 as detailed in the table below.
All amounts are net of reinsurance recoveries and reinstatement premiums
For the Texas winter storms Everest is estimating insured industry losses of approximately $15 billion
Everest Re Group, Ltd : Everest Provides Preliminary Information on First Quarter 2021 Catastrophe Losses
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Everest Re Group, Ltd : Everest Re Group to Hold First Quarter 2021 Earnings Conference Call on Thursday, April 29, 2021
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Everest Re Group, Ltd.: Everest Re Group Reports Fourth Quarter and Full Year 2020 Results: Full Year Net Income of $514 Million
11.4% Year on Year Growth in Book Value Per Share Inclusive of Dividends
Everest Re Group, Ltd. ( Everest or the Company ) today reported its 2020 fourth quarter and year end results. Fourth Quarter 2020 Highlights
Net operating loss of $(44) million, $(1.12) per common share
Gross written premium growth of 13%
Attritional combined ratio of 86.3%, a 4 point improvement year over year
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 Full Year 2020 Highlights
Net operating income of $300 million, $7.46 per diluted common share
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Everest Re Group, Ltd. ( Everest or the Company ) announced today preliminary financial results in advance of its full quarterly and full year earnings to be released on February 8, 2021.
Inclusive of the items noted below, Everest expects to report full year 2020 net income of $475-$525 million and operating income of $275-$325 million.
Everest is estimating pre-tax net catastrophe losses for the fourth quarter 2020 of $70 million, net of reinsurance and reinstatement premiums. The estimate includes the impact of Hurricanes Delta, Zeta, Eta, Iota, and the Queensland Australia Hailstorm. These catastrophe losses include $60 million in the Company s Reinsurance segment and $10 million in the Insurance segment.