Everest Re Report Q3 Net Income Of $243.1M
Everest Re Group, Ltd. reported that for the three months ended September 30, 2020, net income was $243.1 million, or $6.07 per diluted common share, compared to net income of $104.4 million, or $2.56 per diluted common share, for the three months ended September 30, 2019.
After-tax operating income for the quarter was $97.0 million, or $2.42 per diluted common share, compared to after-tax operating income¹ of $138.4 million, or $3.39 per diluted common share, for the same period in 2019.
Everest Re Group President & CEO Juan C. Andrade commented: “Everest is benefitting from a flight to quality and strength in the reinsurance and insurance markets. This is an underwriter’s market. Our broadly diversified reinsurance and insurance franchises, our financial strength, deep distribution relationships, and our focus on providing solutions to our customers position us well for this environment.
“Everest’s core strength is evidenced by our third quarter 2020 results where we achieved 16% growth in gross written premium, an improved attritional combined ratio of 85.8% and net income of $243 million.”
