earnings
confidence high
sentiment positive
materiality 0.75
Everest Q2 net income $724M, operating income $730M; record net investment income $528M
EVEREST GROUP, LTD.
2024-Q2 EPS reported
$33.57
revenue$8,360,000,000
- Net income $724M ($16.70 diluted EPS) vs $670M ($16.26) in Q2 2023; operating income $730M ($16.85).
- Group combined ratio 90.3% (catastrophe 4.1 pts) vs 87.7% (0.8 pts) a year ago; underwriting income $358M.
- Gross written premium $4.725B, up 13% YoY; Reinsurance segment grew 16.8%, Insurance 5.7%.
- Net investment income of $528M, a company record, driven by larger asset base and strong returns.
- Book value per share $327.68 (up from $304.29 at Dec 31); $65M share repurchased in quarter.