Free Research Report as Everest’s Quarterly Revenue Jumped 16.1%; Adjusted EPS Soared 52.7%

Stock Monitor: James River Group Holdings Post Earnings Reporting

LONDON, UK / ACCESSWIRE / February 27, 2018 / Active-Investors.com has just released a free earnings report on Everest Re Group, Ltd (NYSE: RE) (“Everest”). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=RE. Everest reported its fourth quarter fiscal 2017 operating and financial results on February 05, 2018. The reinsurance Company topped premium and earnings estimates. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for James River Group Holdings, Ltd. (NASDAQ: JRVR), which also belongs to the Financial sector as the Company Everest Re Group. Do not miss out and become a member today for free to access this upcoming report at:

www.active-investors.com/registration-sg/?symbol=JRVR

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Everest Re Group most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=RE

Earnings Highlights and Summary

For Q4 2017, Everest reported revenue advanced 16.1% to $1.87 billion compared to $1.61 billion in Q4 2016.

For full year (FY) 2017, Everest recorded revenue of $6.61 billion compared to $5.79 billion in FY16.

Everest reported net income of $571.0 million, or $13.85 per diluted share, in Q4 2017 compared to net income of $373.6 million, or $9.08 per diluted share, for Q4 2016. The Company’s after-tax operating income, excluding realized capital gains and losses and the tax charge related to the enactment of the Tax Cuts and Jobs Act of 2017 (TCJA), was $556.0 million, or $13.48 per diluted share, compared to after-tax operating income of $363.4 million, or $8.83 per diluted share, for the year ago same period. Everest’s earnings beat Wall Street’s estimates of $5.24 per share.

For FY17, Everest’s net income was $469.0 million, or $11.36 per diluted common share, compared to $996.3 million, or $23.68 per diluted common share, for FY16. The Company’s after-tax operating income, excluding realized capital gains and losses and the tax charge related to the enactment of the TCJA, was $375.4 million, or $9.10 per diluted common share, for FY17 compared to $993.5 million, or $23.61 per diluted common share, for FY16.

Operating highlights

During Q4 2017, Everest’s gross written premiums were $1.9 billion, reflecting an increase of 26% on a y-o-y basis. The Company’s premiums earned totaled $1.66 billion, ahead of analysts’ estimates of $8.31 million.

For FY17, Everest’s gross written premiums grew 19% to $7.2 billion. The Company’s worldwide reinsurance premiums advanced 17% on a y-o-y basis, while direct insurance premiums were up 15% for FY17.

Everest’s combined ratio was 70.0% for Q4 2017 compared to 82.1% for Q4 2016. The reported quarter benefitted from net prior year reserve releases of $262.1 million and a net reduction to prior period catastrophe loss estimates of $132.7 million, offset by $161.5 million for catastrophe losses that occurred in Q4 2017, including both the Northern and Southern California wildfires.

Everest posted combined ratio of 103.5% for FY17 compared to 87.0% for FY16. For FY17, catastrophe losses, net of reinstatement premiums, totaled $1.3 billion. Excluding catastrophe losses, reinstatement premiums and favorable prior year loss development, Everest’s FY17 attritional combined ratio was 85.0% compared to 85.5% for FY16.

Everest’s net investment income amounted to $149.1 million for Q4 2017 and $542.9 million for FY17. The Company’s net after-tax realized capital gains totaled $23.2 million in the reported quarter.

Cash Matters

Everest’s cash flow from operations was $118.5 million for Q4 2017 compared to $422.9 million for Q4 2016. The Company’s FY17 cash flow from operations was $1.2 billion compared to $1.4 billion for FY16.

For FY17, Everest’s after-tax operating income return on average adjusted shareholders’ equity was 4.6%. During the reported quarter and full year 2017, the Company purchased 236,493 shares for a total cost of $50 million. The repurchases were made pursuant to a share repurchase authorization, provided by the Company’s Board of Directors, under which there remains 1.8 million shares.

Everest’s shareholders’ equity ended FY17 at $8.4 billion. The Company’s book value per share increased 4% from $197.45 at year-end 2016 to $204.95 at December 31, 2017.

Stock Performance Snapshot

February 26, 2018 – At Monday’s closing bell, Everest Re’s stock slightly declined 0.54%, ending the trading session at $241.63.

Volume traded for the day: 336.00 thousand shares.

Stock performance in the last month – up 4.63%; previous three-month period – up 10.21%; past twelve-month period – up 2.81%; and year-to-date – up 9.21%

After yesterday’s close, Everest Re’s market cap was at $9.78 billion.

Price to Earnings (P/E) ratio was at 21.30.

The stock has a dividend yield of 2.15%.

The stock is part of the Financial sector, categorized under the Property & Casualty Insurance industry. This sector was up 1.1% at the end of the session.

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