Everest Re Group to Hold Second Quarter 2021 Earnings Conference Call on Thursday, July 29, 2021. Everest will also hold an Investor Day on June 23, 2021
Everest Re Group, Ltd. (“Everest”) (NYSE: RE) will hold its second quarter 2021 earnings conference call on Thursday, July 29, 2021, beginning at 8:00 am Eastern Time.
Dial in details can be obtained by completing the registration form available at: http://www.directeventreg.com/registration/event/2855978″ class=”link rapid-noclick-resp” data-rapid_p=”20″ data-v9y=”1″ style=”background-color: transparent; text-decoration: none; color: rgb(24, 143, 255); cursor: pointer;”>http://www.directeventreg.com/registration/event/2855978
The call can be accessed via a live, listen only webcast at www.everestre.com/Investors, where a replay of the call will also be available.
Everest will release financial results on July 28, 2021 after the NYSE market close. At that time, Everest’s earnings release and financial supplement will be made available at www.everestre.com/Investors.
Additionally, Everest will host its investor day webcast on Wednesday, June 23, 2021 starting at 8:00 am Eastern Time, and concluding at approximately 11:30 am Eastern Time.
The investor day webcast will be presented live, and all interested parties are invited to join by registering in advance at https://kvgo.com/openexchange-inc/everest-re-group-investor-day-2021″ class=”link rapid-noclick-resp” data-rapid_p=”23″ data-v9y=”1″ style=”background-color: transparent; text-decoration: none; color: rgb(24, 143, 255); cursor: pointer;”>https://kvgo.com/openexchange-inc/everest-re-group-investor-day-2021. A replay will be available after the event.
Everest Re Group Reports First Quarter 2021 Results
Everest Re Group, Ltd. (“Everest” or the “Company”) reported its 2021 first quarter results.
First Quarter 2021 Highlights
Net income of $342 million equal to $8.52 per share
Net operating income of $260 million, equal to $6.49 per share
Gross written premium growth of 14% and net written premium growth of 16%
Attritional combined ratio of 87.3%, a 2.5-point improvement year over year
Underwriting income of $45 million inclusive of pre-tax net catastrophe losses of $270 million ($260 million net of reinstatement premiums)
No change to the Covid-19 Pandemic (“Pandemic”) loss provision
Combined ratio of 98.1%
Operating cashflow of $904 million for the quarter
The following table summarizes the Company’s net income and related financial metrics.
Net income and operating income
Q1
Year to Date
Q1
Year to Date
All values in USD millions except for per share amounts and percentages
2021
2021
2020
2020
Everest Re Group
Net income
341.9
341.9
16.6
16.6
Net operating income (loss)
260.2
260.2
164.4
164.4
Net income per diluted common share
8.52
8.52
0.41
0.41
Net operating income per diluted common share
6.49
6.49
4.03
4.03
Net income annualized return on average equity
15.0%
15.0%
0.8%
0.8%
Net operating income annualized return on average equity
11.4%
11.4%
7.6%
7.6%
Everest Re Group President & CEO Juan C. Andrade commented on the Company’s results:
“Firstly, our thoughts are with those impacted by the U.S. winter storms and the flooding in Australia. I am very proud of the work our claims team is doing on the ground to help those affected rebuild their lives.
Everest had a strong start to 2021 with robust growth, strong overall profitability, continued improvement in attritional underwriting margins, and excellent investment performance. Our first quarter results further illustrate the earnings power of Everest and our success in implementing our strategy to build a broadly diversified company with a relentless focus on strong operational performance and disciplined underwriting.”
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