With no major catastrophe events hurting results this year, Bermuda-based Everest Re reported third-quarter net income of $245.7 million, reversing 2005′s loss for the period, and nine-month results in the black as well.
Third-quarter 2006 net was at $3.76 per share, compared with a net loss of $7.41 per share or $417.7 million, in last year's third quarter, making it the "best-ever" third-quarter result, according to Chief Financial Officer Steve Limauro.
A similar recovery for the full nine-month period resulted in another best-ever income figure of $634.5 million, $9.71 per share, and a year-to-date combined ratio of 88.6.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
