Everest Group reports Q1 EPS $6.45, consensus $7.74

Reports Q1 revenue $4.263B vs $4.133B last year. “The industry experienced the highest level of Q1 catastrophe losses in over a decade, primarily from the California wildfires. As expected, this affected our underwriting results for the quarter,” said Jim Williamson, Everest President and CEO. “Given our disciplined approach to catastrophe risk underwriting, our losses were within our expected range. We continue to see opportunities to deploy capital at excellent expected returns, as evidenced by our successful execution of the January and April first reinsurance renewals. In insurance, the execution of our U.S. casualty remediation remains on track to be completed later this year, while we still see significant opportunities in property and specialty lines. Everest is delivering on its strategic plan, and I am confident in our ability to achieve our return objectives.”