Everest Re Group Second Quarter Profit Rises
Bermuda-based Everest Re Group, Ltd. reported second quarter 2013 net income of $275.6 million, or $5.56 per diluted common share, compared to net income of $214.6 million, or $4.08 per diluted common share, for the second quarter of 2012.
After-tax operating income, excluding realized capital gains and losses, was $253.2 million, or $5.10 per diluted common share, for the second quarter of 2013, compared to after-tax operating income of $223.0 million, or $4.25 per diluted common share, for the same period last year.
For the six months ended June 30, 2013, net income was $660.0 million, or $13.09 per diluted common share, compared to $519.3 million, or $9.79 per diluted common share, for the first six months of 2012. After-tax operating income, excluding realized capital gains and losses, was $554.2 million, or $10.99 per diluted common share, compared to $462.9 million or $8.72 per diluted common share, for the same period in 2012.
Commenting on the Company’s results, Chairman and CEO Joseph V. Taranto said, “Through six months, our annualized net income return on shareholders’ equity is 21%. We returned $500 million to shareholders through share repurchases and dividends and grew book value per share, adjusted for dividends, by 5% despite falling bond prices and catastrophes. We believe
