Wall Street expects a year-over-year decline in earnings on higher revenues when Everest Group (EG) reports results for the quarter ended March 2025. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on April 30. On t ...

Shares of Everest Group, Ltd. (EG) have lost 4.8% in the past year, underperforming the industry and the Zacks S&P 500 composite’s decline of 1% and 3.7%, respectively. The Finance sector has returned 4.5% in the said time frame.  The insurer has a market capitalization of $14.95 billion. The average volume of shares traded in the last three months was 0.4 million. The insurer has a solid track record of beating earnings estimates in three two of the last four quarters while missing in the other two, the av ...

Core Insights - Everest Group recognized Teleperformance (TP) as a Leader in its Experience-Driven Integrated BFS Operations PEAK Matrix® Assessment, highlighting TP's expertise in banking and financial services, technology, and customer-centric approach [1][2] Group 1: Company Recognition and Offerings - TP's OneOffice offering delivers integrated front-to-back operations across lending, payments, and financial crime segments, addressing the demand for end-to-end services [2] - TP's in-house technology and digital services expertise, bolstered by the acquisition of Majorel, enhance its capabilities in digitally driven operations [2] - TP's extensive operational scale and technology, including its digital services arm TP Infinity, contribute to its recognition as a Leader [2][3] Group 2: Strategic Focus and Innovation - TP excels in AI-driven transformation, continuous investment in advanced technologies, and a flexible global delivery model that supports diverse BFS clients [3] - The company has established strong strategic partnerships with AI technology providers, enhancing its service offerings [2][3] Group 3: Financial Performance - In 2023, Teleperformance reported consolidated revenue of €8,345 million (approximately US$9 billion) and a net profit of €602 million [5]

Core Viewpoint - Everest Medicines has initiated the first patient dosing of its personalized mRNA cancer vaccine EVM16 in a clinical trial, marking a significant milestone in its development and potential therapeutic applications for cancer patients [1][5][6]. Group 1: EVM16 Development and Clinical Trials - EVM16 is a personalized mRNA cancer vaccine developed by Everest, designed to target tumor-specific mutations using the proprietary AI-based neoantigen prediction algorithm, EVER-NEO-1 [2][9]. - The clinical trial EVM16CX01 is a first-in-human study aimed at evaluating the safety, tolerability, immunogenicity, and preliminary efficacy of EVM16 as a monotherapy and in combination with a PD-1 antibody for patients with advanced or recurrent solid tumors [1][10]. - The first patient dosing represents a critical step in advancing Everest's proprietary mRNA technology platform into human trials, showcasing the company's commitment to innovative cancer treatments [5][6]. Group 2: Preclinical Studies and Efficacy - Preclinical studies have shown that EVM16 stimulates a strong neoantigen-specific T cell response and significantly inhibits tumor growth in mouse models [3][4]. - The combination of EVM16 with a PD-1 antibody has demonstrated synergistic anti-tumor effects, supporting its potential use in combination therapies [4][6]. - Safety and tolerability were confirmed in preclinical toxicity studies, indicating that repeated dosing of EVM16 is well tolerated [4][6]. Group 3: Market Context and Future Directions - According to Globocan data from 2022, there were approximately 19.976 million new cancer cases globally, highlighting the urgent need for innovative immunotherapies like personalized mRNA cancer vaccines [7]. - Everest Medicines is also developing a range of mRNA cancer therapeutics, including tumor-associated antigen vaccines and immunomodulatory cancer vaccines, with plans to submit investigational new drug applications in 2025 [8][11]. - The company aims to leverage its AI capabilities to enhance the precision of neoantigen recognition, positioning itself competitively in the biopharmaceutical industry [5][8].

Core Viewpoint - Everest Group reported a wider-than-expected operating loss in Q4 2024, driven by higher expenses and a decline in insurance performance, despite an increase in total operating revenues and net investment income [2][3][12]. Financial Performance - The operating loss for Q4 2024 was $18.39 per share, compared to a loss estimate of $16.65, and a significant drop from an operating income of $25.18 per share in the same quarter last year [2]. - Total operating revenues reached nearly $4.64 billion, marking a 26.7% year-over-year increase, surpassing the consensus estimate by 4.4% [3]. - Net investment income was $473 million, up 15.1% year over year, although it fell short of the Zacks Consensus Estimate of $496 million [4]. - Total claims and expenses surged 59% to $5.4 billion, primarily due to increased incurred losses and various underwriting expenses [5]. Segment Performance - The Reinsurance segment's gross written premiums increased by 12.6% year over year to $3.3 billion, driven by significant growth in Property Catastrophe XOL [7]. - The Insurance segment saw a decline in gross written premiums by 1.6% year over year to $1.3 billion, with notable growth in Property and Short Tail lines offset by decreases in Accident and Health and Specialty Casualty lines [8]. Financial Health - As of the end of Q4 2024, total investments and cash stood at $41.5 billion, an increase of 11.8% from the previous year, while shareholder equity rose by 5.1% to $13.9 billion [10]. - The book value per share was $322.97, reflecting a 6.1% increase from the end of 2023 [10]. - Cash flow from operations was reported at $4.9 billion, up 8.8% year over year, with common share dividends totaling $86 million for the quarter [11]. Full-Year Overview - For the full year 2024, operating income per share decreased by 55% year over year to $29.83, missing the Zacks Consensus Estimate by 23% [12]. - Total revenues for the year increased by 18.5% to $17.28 billion, slightly exceeding the consensus estimate by 1% [12]. Market Sentiment - Recent estimates for Everest Group have shown a downward trend, with a consensus estimate shift of -37.36% [13]. - The company currently holds a Zacks Rank of 5 (Strong Sell), indicating expectations of below-average returns in the coming months [15].

Core Insights - Everest Medicines, a biopharmaceutical company, is focused on discovering, developing, manufacturing, and commercializing transformative pharmaceutical products and vaccines, particularly in the mRNA therapeutic vaccine space [1][6][7] Conference Call Details - The English session of the conference call is scheduled for 9:00 PM Beijing Time on March 6, 2025, which corresponds to 8:00 AM U.S. Eastern Time on the same day [2][3] - The Mandarin session will take place at 9:00 AM Beijing Time on March 7, 2025, equivalent to 8:00 PM U.S. Eastern Time on March 6 [4] - Access to the conference calls can be made through provided links and dial-in information for various regions, including the United States, Chinese Mainland, Hong Kong, and the United Kingdom [3][5] Company Overview - Everest Medicines aims to address critical unmet medical needs in Asian markets, with a management team that possesses extensive expertise from both global and local pharmaceutical companies [6][7] - The company has developed a portfolio of potentially global first-in-class or best-in-class molecules targeting renal diseases, infectious diseases, and autoimmune disorders [7]

Reinsurance Segment Performance - The Reinsurance segment wrote $12.9 billion of gross written premiums for the year ended December 31, 2024, with 90.5% ($11.7 billion) written through the broker reinsurance market[58]. - Property Pro Rata business accounted for 34.5% of reinsurance gross written premiums, while Casualty Pro Rata business accounted for 25.3%[59]. - The Reinsurance segment includes treaty and facultative reinsurance, with both types providing different coverage structures and risk-sharing arrangements[52]. - The Company competes with various international reinsurers and alternative risk providers, highlighting the dynamic nature of the market[62]. Insurance Segment Performance - The Insurance segment wrote $5.1 billion of gross written premiums in 2024, with various lines of business contributing to this total[65]. - The Insurance segment's Specialty Casualty business accounted for 28.1% of gross written premiums, while Professional Liability business accounted for 17.2%[67]. - The Insurance segment operates globally, with tailored products distributed through brokers and agents across multiple regions[64]. Financial Strength and Reserves - The financial strength ratings for the Company's operating subsidiaries are all rated A+ (Superior) by A.M. Best and A+ (Strong) by S&P[92]. - The Company believes that its existing reserves and reserving methodologies reduce the likelihood of material adverse effects on its financial condition[75]. - Reserves for unpaid property and casualty losses and LAE are established to cover future claims and related expenses, with potential material impacts on earnings if reserves are insufficient[71]. - As of December 31, 2024, the Company's gross reserves for Asbestos and Environmental (A&E) claims represented 0.9% of its total reserves[78]. Investment and Capital Management - The Company has expanded its investment portfolio to include fixed and floating rate securities, bank and private loan securities, private equity investments, and corporate-owned life insurance policies[87]. - The company has a statutory earned surplus of $8.1 billion as of December 31, 2024, which limits the amount of dividends it can pay without regulatory approval[110]. - The maximum amount available for dividend payments by Everest Re without triggering prior approval is $813 million as of December 31, 2024[110]. Regulatory and Compliance - The company is subject to periodic financial examinations every three to five years, with no material findings reported in 2024[134]. - The company maintains a minimum of $100 million in statutory capital and surplus as a Class 4 insurer in Bermuda[111]. - The company is licensed to write property and casualty insurance in all 50 states, the District of Columbia, Puerto Rico, and Guam[123]. - The company is authorized to conduct reinsurance business in Canada, Singapore, and Brazil, among other countries[124]. Risk Management - The Company’s Enterprise Risk Management (ERM) framework is integrated into daily operations and overseen by senior management risk committees[97]. - The Chief Risk Officer reports to the Board's Risk Management Committee, which evaluates the effectiveness of the ERM procedures and systems[102]. Taxation and Future Impacts - The Bermuda Corporate Income Tax Act 2023 will impose a 15% corporate income tax starting January 1, 2025, potentially affecting the company's deferred tax assets[141]. - The OECD guidance issued on January 15, 2025, may restrict the utilization of deferred tax benefits to approximately 20% of originally calculated amounts[141]. - The company does not expect the Inflation Reduction Act of 2022 to have a material impact on its results of operations[144]. - The company operates in multiple countries, including Australia, Belgium, Canada, and the U.K., where it is subject to local taxation[145]. Environmental Commitment - The company is committed to managing and reducing its ecological footprint while considering environmental factors in investment decisions[104].

Fourth Quarter 2024 Cautionary Note On Forward-Looking Statements and Non-GAAP Measures This presentation and the accompanying remarks contain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. 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 reflect management's current expectations based on assumptions we believe are reasonable ...

Financial Data and Key Metrics Changes - Everest reported gross written premiums of $4.7 billion, representing a 7.2% growth in constant dollars, excluding reinstatement premiums [30] - The combined ratio was 135.5% for the quarter, including unfavorable development of prior year loss reserves of $1.5 billion, contributing 37.6 percentage points to the combined ratio [30][31] - Operating income for the year was $1.3 billion, achieving a 9% operating return on equity [11] Business Line Data and Key Metrics Changes - In the reinsurance segment, gross premiums grew by 12.6% in constant dollars, driven by strong increases in property pro rata and property cat XOL [33] - The combined ratio for the reinsurance segment was 90.4% in the fourth quarter, compared to 78.9% in the prior year [34] - The insurance segment saw gross premiums written decrease by 1.6% in constant dollars to $1.4 billion, primarily due to actions taken to shed underperforming U.S. casualty business [37] Market Data and Key Metrics Changes - The global property cat reinsurance market remains attractive for Everest, with customers preferring to do more business with the company [20] - The average modeled loss costs for European cat exposure increased by about 10%, leading to a significant reduction in the number of deals [18] Company Strategy and Development Direction - The company is focused on maintaining underwriting discipline and cedent selection, having walked away from nearly $750 million in North American casualty quota share business [15] - Everest aims to increase scale in the 12 markets it operates in, without entering additional markets this year, to achieve greater premium leverage against expenses [23] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of the business despite the impact of reserve strengthening, highlighting strong income streams in reinsurance and investments [11] - The company anticipates that the California wildfires will serve as a reminder for property reinsurance underwriters to maintain pricing discipline [20] Other Important Information - The company strengthened current accident year losses by $229 million, with total strengthening of $1.7 billion for the full year [31] - Cash flow from operations was $780 million during the quarter and approximately $5 billion for the full year [45] Q&A Session Summary Question: How does the company plan to manage volatility in the insurance segment? - Management emphasized diligent P&L management and strategic use of outbound reinsurance to manage risk and volatility [51][52] Question: What is the framework for capital management activities? - The company highlighted a strong financial position and a focus on achieving mid-teens total shareholder return over the cycle, with plans for share repurchases [55][56] Question: What can be expected regarding the insurance segment loss ratio progress? - Management indicated that mix improvements and prudent reserve actions will positively impact the loss ratio in 2025 [60][61] Question: Why is the medical stop-loss business being exited? - The company non-renewed a major block in the medical stop-loss business due to difficulties, and the full impact will be seen over the year [71][72] Question: How does the company view the impact of wildfires on reinsurance pricing? - Management expects the wildfires to positively impact pricing, with increased demand for coverage from clients [82] Question: What is the expected effective tax rate for 2025? - The estimated effective tax rate for the group is projected to be in the range of 17% to 18% [109] Question: How is the company managing its engagement with cedents? - The company has been consistently ensuring high-quality data from cedents and engaging in direct discussions to understand trends affecting their portfolios [102][103]

Core Insights - Everest Group, Ltd. reported a fourth-quarter 2024 operating loss of $18.39 per share, which was wider than the Zacks Consensus Estimate of a loss of $16.65, compared to an operating income of $25.18 per share in the same quarter last year [1][3] Operational Update - Total operating revenues reached nearly $4.64 billion, marking a 26.7% year-over-year increase, driven by higher premiums and net investment income, surpassing the consensus mark by 4.4% [3] - Gross written premiums improved by 8% year-over-year to $4.7 billion, supported by strong growth in property and specialty lines, although partially offset by reductions in certain casualty lines [3] - Net investment income was $473 million, a 15.1% increase year-over-year, attributed to a larger asset base and strong core fixed income returns, although it fell short of the Zacks Consensus Estimate of $496 million [4] Claims and Expenses - Total claims and expenses surged by 59% to $5.4 billion, primarily due to higher incurred losses and various underwriting expenses, exceeding the estimate of $3.6 billion [5] - The pre-tax underwriting loss was $1.4 billion, a significant decline from the prior year's pre-tax underwriting income of $245 million, with the combined ratio deteriorating by 4,230 basis points to 135.5 [6] Segment Update - The Reinsurance segment's gross written premiums were $3.3 billion, up 12.6% year-over-year, driven by significant increases in Property Catastrophe XOL and Property ProRata, despite a decrease in Casualty Pro-Rata [7] - The Insurance segment generated gross written premiums of $1.3 billion, down 1.6% year-over-year, with notable growth in Property and Short Tail lines offset by declines in Accident and Health and Specialty Casualty [8] Financial Update - As of the end of the fourth quarter 2024, total investments and cash stood at $41.5 billion, an 11.8% increase from 2023, while shareholder equity rose by 5.1% to $13.9 billion [9] - Book value per share was $322.97, reflecting a 6.1% increase from the end of 2023, with an annualized net income return on equity of negative 15.7% compared to positive 23.8% in the previous year [10] Full-Year Highlights - For the full year 2024, operating income per share decreased by 55% year-over-year to $29.83, missing the Zacks Consensus Estimate by 23%, while total revenues increased by 18.5% to $17.28 billion, slightly beating the consensus estimate [11]