Everest CEO: “Milestone With Record Earnings”

Bermuda-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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