Welcome to our dedicated page for Everest Re Gp news (Ticker: EG), a resource for investors and traders seeking the latest updates and insights on Everest Re Gp stock.
Everest Re Group Ltd. (EG) provides comprehensive property and casualty reinsurance solutions across global markets. This news hub offers investors and industry professionals centralized access to official updates and analysis-driven coverage of EG's strategic developments.
Key resources include earnings announcements, leadership changes, product innovations, and regulatory filings. Track the company's reinsurance portfolio growth, specialty lines expansion, and risk management initiatives through verified press releases and market commentary.
Regular updates cover EG's treaty and facultative reinsurance activities, subsidiary operations, and responses to emerging industry challenges. Stay informed about capital management strategies and underwriting performance through curated financial disclosures.
Bookmark this page for real-time updates on Everest Re Group's market position and access historical news to identify long-term trends in the reinsurance sector.
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.
Everest Group (NYSE: EG) has appointed Jim Williamson as permanent President and Chief Executive Officer, effective immediately. Williamson, who was serving as Acting CEO, previously held positions as EVP, Group COO, and Head of the Reinsurance and Insurance Divisions since joining Everest in 2020.
With over two decades of industry experience, including senior roles at The Hartford, Chubb, and ACE, Williamson brings extensive expertise in property & casualty insurance, covering commercial, specialty, and consumer business lines both in the US and internationally. Chairman Joseph Taranto highlighted Williamson's consistent demonstration of sound judgment and value creation during his four-year tenure at Everest.
Everest, a component of the S&P 500 index, is a global underwriting leader with a 50-year track record in property, casualty, and specialty reinsurance and insurance solutions.
Everest Group (NYSE: EG) has announced an immediate leadership transition, with Jim Williamson, Executive Vice President and Group Chief Operating Officer, appointed as Acting CEO and joining the company's Board of Directors. This appointment follows the departure of Juan C. Andrade, who served as President and CEO since 2020 and is leaving to become CEO at another financial services firm.
Williamson, a 20-year insurance industry veteran, joined Everest in 2020 as Group COO and later expanded his role to head the Reinsurance Division in May 2021. Most recently, he was promoted to lead both the Reinsurance and Insurance businesses in March 2024. His extensive career includes senior positions at The Hartford, Chubb, and ACE, spanning commercial, specialty, and consumer lines of business both in the US and internationally.
Everest Group (NYSE: EG) has announced its upcoming fourth quarter 2024 earnings conference call, scheduled for Tuesday, February 4, 2025, at 8:00 am Eastern Time. The company will release its financial results on February 3, 2025 after the NYSE market close. The earnings release and financial supplement will be available on the company's investor relations website. Investors can access the call through a live webcast or by registering via the provided link. Everest, a component of the S&P 500 index, is a global underwriting leader with a 50-year track record in property, casualty, and specialty reinsurance and insurance solutions.
