earnings
confidence high
sentiment positive
materiality 0.80
Everest Group Q4 net income $804M, operating income $1.1B; full-year record net income $2.5B, 20.9% ROE
EVEREST GROUP, LTD.
2023-FY EPS reported
$60.19
revenue$14,587,000,000
- Record annual net income of $2.5 billion; operating income of $2.8 billion; TSR 26.5%.
- Q4 gross written premium $4.3B, up 18.3% YoY; Reinsurance combined ratio 78.8% (86.4% for full year).
- Pre-tax catastrophe losses $143M in Q4; insurance segment strengthened reserves $392M for long-tail lines (social inflation).
- Net investment income record $1.4B in 2023; Q4 $411M (up 95% YoY). Sold $3.3B lower-yielding bonds to reinvest at higher rates.
- Book value per share ex-AFS URAD $320.95, up 23.8% YoY; quarterly dividend $1.75/share.