Everest CEO: “Milestone With Record Earnings”

February 7, 2014

Dominic_AddessoBermuda-based Everest Re Group Ltd. reported fourth quarter 2013 net income available to common shareholders of $364.6 million, or $7.54 per diluted common share, compared to net income of $58.8 million, or $1.13 per diluted common share, for the fourth quarter of 2012.

After-tax operating income available to common shareholders, excluding realized capital gains and losses, was $303.4 million, or $6.28 per diluted common share, for the fourth quarter of 2013, compared to $41.7 million, or $0.80 per diluted common share, for the same period in 2012.

For the year ended December 31, 2013, net income available to common shareholders was $1.3 billion, or $25.44 per diluted common share, compared to net income of $829.0 million, or $15.79 per diluted common share, for 2012.

After-tax operating income1 available to common shareholders, excluding realized capital gains and losses, was $1.1 billion, or $21.47 per diluted common share, for the full year 2013, compared to $715.2 million or $13.62 per common share, for 2012.

Commenting on the Company’s results, President and Chief Executive Officer, Dominic J. Addesso [pictured] said, “Everest has reached another milestone with record earnings of $1.3 billion and a 20% return on equity.

“This is certainly a reflection of the effort over the last several years to position the company for profitable growth. We continue to strategically maneuver through a challenging marketplace and are confident that the portfolio we put together post January renewals can produce another strong year in 2014.”

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Comments (5)

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  1. more than enough says:

    these numbers i keep seeing are astronomical…
    is there still a recession here ,or do these companies even know what that is? their record profits year after year seems to coincide with the global decline and availability of funds for everybody else.
    these guys are truly financial wizards.
    now i’m no genius but i think this is where all the money is going.

  2. more than enough says:

    apparently no one cares..
    i find it amazing how no one is concerned about this

  3. more than enough says:

    all quiet on the business front…