Everest Re Gp Stock Price, News & Analysis

Everest Group (NYSE: EG) has declared a dividend of $2.00 per common share, payable by June 13, 2025, to shareholders of record as of May 28, 2025. Everest is a global underwriting leader specializing in property, casualty, and specialty reinsurance and insurance solutions with a 50-year track record of disciplined underwriting and capital management. The company is a component of the S&P 500 index.

Everest Group reported its Q1 2025 results with net income of $210 million and net operating income of $276 million. The company achieved a 5.7% annualized net income ROE and 7.5% net operating income ROE. Gross written premium reached $4.4 billion, showing year-over-year decreases of 2.0% for the Group.

The quarter saw significant catastrophe losses of $472 million, primarily from California wildfires, leading to combined ratios of 102.7% for the Group, 103.3% for Reinsurance, and 100.5% for Insurance. The company's investment performance improved with net investment income of $491 million versus $457 million in the prior year.

Despite challenging conditions, Everest maintained strong capital deployment with $200 million in share repurchases. The company's strategic focus remains on property and specialty lines growth, while executing U.S. casualty remediation. Operating cash flow was $928 million, and book value per share reached $332.39.

Everest Group (NYSE: EG) announced a significant board leadership transition as Joseph V. Taranto, who has served as Board Chair since 1994 and was CEO from 1994 to 2013, will retire when his term expires in May. John Graf, an independent board member since 2016 and non-Executive Vice Chairman of Global Atlantic Financial Group, has been nominated to succeed Taranto as Chair at the May 2025 Annual Shareholders Meeting.

Current President and CEO Jim Williamson acknowledged Taranto's role in transforming Everest into a global P&C market leader. Under Taranto's leadership, the company evolved as a public entity and expanded into key global insurance markets. Everest operates as a global underwriting leader providing property, casualty, and specialty reinsurance and insurance solutions, with a 50-year track record of disciplined underwriting and capital management.

Everest Group (NYSE: EG) has announced its upcoming first quarter 2025 earnings conference call, scheduled for Thursday, May 1, 2025, at 8:00 am Eastern Time. The company will release its financial results on April 30, 2025 after the NYSE market close.

The earnings call will be accessible via webcast at www.investors.everestglobal.com, where the earnings release and financial supplement will also be available. Everest, a component of the S&P 500 index, is a global underwriting leader with a 50-year history, providing property, casualty, and specialty reinsurance and insurance solutions.

Everest Group (NYSE: EG) has appointed John Howard as an independent, non-executive member of its Board of Directors. Howard brings over three decades of insurance and executive leadership experience, most recently serving as CEO of Truist Insurance Holdings (TIH), where he led a successful $16 billion leveraged buyout from Truist Financial

Howard's experience includes executive positions at Prudential Financial, GE, and Conseco, Inc. He currently serves on the Insurance Policy Committee of the Federal Reserve System's Board of Governors and holds positions with several industry associations. He recently transitioned to Vice Chair of TIH and continues to serve on its Board of Managers.

The appointment aims to strengthen Everest's market position and drive long-term growth and profitability. Howard holds a bachelor's degree in economics from Columbia University and an MBA from Duke University.

Everest Group (NYSE: EG), a global underwriting leader in property, casualty, and specialty reinsurance and insurance solutions, has declared a dividend of $2.00 per common share. The dividend will be payable on or before March 28, 2025 to shareholders of record as of March 17, 2025.

The company, a component of the S&P 500 index, has maintained a 50-year track record of disciplined underwriting, capital and risk management. Through its global operating affiliates, Everest focuses on underwriting opportunities for colleagues, customers, shareholders, and communities worldwide.

AM Best has maintained its ratings for Everest Group [NYSE: EG] following the company's recent announcement of a $1.7 billion net reserve strengthening. The Financial Strength Rating remains at A+ (Superior) and the Long-Term Issuer Credit Ratings at 'aa-' (Superior) with a stable outlook.

The ratings reflect Everest's strongest balance sheet strength, adequate operating performance, very favorable business profile, and appropriate enterprise risk management. The reserve strengthening primarily relates to unfavorable loss trends in U.S. casualty business. AM Best's analysis indicates no material impact on risk-adjusted capitalization, though management's initiatives to improve underwriting may result in reduced premium volume.

AM Best notes that social inflation trends continue to drive adverse reserve development across the U.S. casualty (re)insurance market, with no clear signs of improvement in the near future. The agency will continue monitoring Everest's reserve adequacy and profitability.

Everest Group (NYSE: EG) reported its fourth quarter and full-year 2024 results, with annual net income of $1.4 billion and net operating income of $1.3 billion. The company achieved $18.2 billion in gross written premium, showing 9.1% year-over-year growth.

Key highlights include a Total Shareholder Return of 9.2%, combined ratios of 102.3% for the Group, 89.7% for Reinsurance, and 130.7% for Insurance. The company took decisive actions to strengthen U.S. casualty reserves, resulting in a Q4 net loss of $593 million. Pre-tax catastrophe losses reached $672 million for the year.

Notable achievements include record net investment income of approximately $2 billion and strong operating cashflow of $5.0 billion. The company reported Q4 gross written premium of $4.7 billion with 7.2% Group growth, driven by strong performance in property and specialty lines, partially offset by reductions in casualty lines.

Everest Group (NYSE: EG) has released preliminary financial results for 2024, expecting full-year net income between $1.3-1.4 billion and non-GAAP net operating income of $1.2-1.3 billion. The company reported significant reserve adjustments, including $1.5 billion in unfavorable development of prior-year loss reserves and $229 million in current accident year strengthening, totaling $1.7 billion for 2024.

The Reinsurance segment saw $684 million strengthening in U.S. casualty reserves, offset by favorable property and mortgage lines development. The Insurance segment required $1.1 billion in prior year U.S. casualty reserves strengthening and $206 million in current accident year losses. A new 'Other' segment reported $425 million in unfavorable development. The company announced a new target for mid-teens total shareholder return over the cycle, discontinuing detailed forward guidance.