Everest Re 2015 Q3 Net Income: $88.6 Million
Bermuda-based Everest Re Group, Ltd. reported third quarter 2015 after-tax operating income available to common shareholders of $200.2 million, or $4.53 per diluted common share, compared to after-tax operating income of $280.5 million, or $6.12 per diluted common share, for the third quarter of 2014.
Net income available to common shareholders was $88.6 million, or $2.00 per diluted common share, for the third quarter of 2015, compared to net income of $274.9 million, or $6.00 per diluted common share, for the same period last year.
For the nine months ended September 30, 2015, after-tax operating income available to common shareholders was $754.6 million, or $16.92 per diluted common share, compared to $812.2 million or $17.46 per diluted common share, for the first nine months of 2014.
Net income available to common shareholders through nine months of 2015 was $620.6 million, or $13.92 per diluted common share, compared to $859.0 million, or $18.47 per diluted common share, for the same period in 2014.
Commenting on the Company’s results, President and Chief Executive Officer, Dominic J. Addesso said, “We are pleased with the results that Everest has achieved thus far this year considering the challenging market dynamics – both on the underwriting and investment fronts.
“After-tax operating income totaled $755 million through the first nine months of the year, despite a number of industry events, leading to a 14% annualized operating return on equity and a 4% growth in book value per share. Premium, on a constant dollar basis, was up 4% for the year, as we continue to seek out opportunities for profitable growth.”
