Le Lézard
Classified in: Business, Covid-19 virus
Subjects: EARNINGS, Sales

Everest Provides Preliminary Information on Second Quarter 2020 Results


Everest Re Group, Ltd. ("Everest" or the "Company") announced today net investment income, catastrophe losses, and the estimated impact from the ongoing Covid-19 pandemic ("Pandemic") for the second quarter of 2020. Everest is providing details in advance of its full quarterly earnings to be released on August 5, 2020.

Despite the ongoing Pandemic and related economic impacts, Everest expects to report another profitable quarter during 2020, with positive underwriting income and growth in gross written premium across our platform.

The estimated impacts are as follows:

Risks and Uncertainties

There are significant uncertainties surrounding the ultimate number of claims and scope of loss resulting from the Pandemic. The Company's estimates are based on best available information obtained to date from a review of relevant in-force contracts with potential exposure and estimates of reinsurance recoverables, and also from the Company's clients and brokers. Given the uncertain and evolving nature of the Pandemic, actual ultimate losses from these events may vary materially from these current estimates. Everest anticipates this Pandemic could have a meaningful impact on revenue, as well as net and operating income in future quarters as a result of reinsurance and insurance claims due to the Pandemic and resulting macro-economic market conditions.

This news release contains forward-looking statements within the meaning of the U.S. federal securities laws. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. Federal securities laws. These statements involve risks and uncertainties that could cause actual results to differ materially from those contained in forward-looking statements made on behalf of the Company. These risks and uncertainties include the impact of general economic conditions and conditions affecting the insurance and reinsurance industry, the adequacy of our reserves, our ability to assess underwriting risk, trends in rates for property and casualty insurance and reinsurance, competition, investment market and investment income fluctuations, trends in insured and paid losses, catastrophes, pandemic, regulatory and legal uncertainties and other factors described in our latest Annual Report on Form 10-K. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About Everest Re Group, Ltd.

Everest Re Group, Ltd. ("Everest") is a leading global provider of reinsurance and insurance, operating for close to 50 years through subsidiaries in the U.S., Europe, Singapore, Canada, Bermuda and other territories.

Everest offers property, casualty, and specialty products through its various operating affiliates located in key markets around the world.

Everest common stock (NYSE:RE) is a component of the S&P 500 index.

Additional information about Everest, our people, and our products can be found on our website at

www.everestre.com. All issuing companies may not do business in all jurisdictions.


These press releases may also interest you

at 10:45
The "U.S. Augmented and Virtual Reality Headset Market - A Country Analysis: Focus on Application, Product, and Country - Analysis and Forecast, 2024-2033" report has been added to ResearchAndMarkets.com's offering. The U.S. augmented and virtual...

at 10:20
The "Global Functional Milk Market - Outlook & Forecast 2024-2029" report has been added to ResearchAndMarkets.com's offering. The global functional milk market was valued at $27.00 billion in 2023 and is expected to reach a value of $41.74 billion...

at 10:15
Jazz PharmaceuticalsBy Liz HendersonLiz Henderson, Sr. Vice President Technical Operations at Jazz Pharmaceuticals discusses pioneering innovation in oncology and the importance of the manufacturing infrastructure to help achieve drug development...

at 10:10
Allied Market Research published a report, titled, "Real Estate Investment Trust Market by Type (Equity REITs, Mortgage REITs, and Hybrid REITs), and Application (Industrial, Commercial, and Residential): Global Opportunity Analysis and Industry...

at 10:05
Mayfair Gold Corp. ("Mayfair" or the "Company") today announced that it has received a shareholder meeting requisition notice pursuant to section 167 of the Business Corporations Act (British Columbia) (the "Requisition") dated March 27, 2024 from...

at 09:50
The "Thailand Construction Equipment Rental Market - Strategic Assessment & Forecast 2024-2029" report has been added to ResearchAndMarkets.com's offering. The Thailand construction equipment rental market is expected to reach a value of $428.7...



News published on and distributed by: