Reports Q4 revenue $3.256B, consensus $3.12B. "Everest’s fourth quarter results capped a strong year of consistent execution and positive momentum for the company," said Juan C. Andrade, Everest President and CEO. "We grew both underwriting franchises with improved margins, significantly reduced volatility and generated solid returns despite ongoing market uncertainty and another elevated catastrophe year. This led to over $1 billion in operating income, and a double-digit operating return on equity for both the quarter and the full year. We had a successful January 1 reinsurance renewal executing a precise and well-orchestrated strategy. We leveraged Everest’s global leadership position to capitalize on the robust property market and the flight to quality was evident across virtually all lines and geographies. We drove improved pricing, terms and conditions and deepened relationships with new and existing core clients throughout the world, which significantly improved risk adjusted returns across the entire portfolio. We are well positioned with the talent and the platform to continue this momentum in 2023."
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on RE:
