Financial Performance - Annual net income of $1.4 billion and net operating income of $1.3 billion for 2024[1] - Net loss of $593 million for Q4 2024, compared to net income of $804 million in Q4 2023[13] - After-tax net operating income for Q4 2024 was $(780) million, translating to $(18.39) per diluted share, compared to $1,093 million or $25.18 per diluted share in Q4 2023[34] - Net income decreased to $1,373 million in 2024 compared to $2,517 million in 2023, a decline of 45.4%[50] - The company reported a comprehensive loss of $1,387 million for the quarter, compared to a comprehensive income of $2,041 million in the same quarter of 2023[48] Premiums and Underwriting - Total gross written premium reached $18.2 billion, reflecting a year-over-year growth of 9.1%[5] - Gross written premiums increased by 13.7% year-over-year to $3,291 million in Q4 2024, and by 12.9% to $12,941 million year-to-date[20] - Net written premiums rose by 9.6% to $3,019 million in Q4 2024, and by 10.8% to $11,969 million year-to-date[20] - Gross written premium for the Group increased by 8.0% to $4,671 million in Q4 2024 from $4,323 million in Q4 2023[40] - For the year-to-date 2024, gross written premium for the Group rose by 9.6% to $18,232 million compared to $16,637 million in 2023[40] Loss Ratios and Claims - Combined ratio for the Group was 102.3%, with 89.7% for Reinsurance and 130.7% for Insurance, including actions to strengthen U.S. casualty reserves[5] - The total loss ratio for Q4 2024 was 61.6%, an increase of 13.8 percentage points compared to the prior year[20] - The combined ratio for the Insurance segment was 239.2% in Q4 2024, an increase of 115.4 percentage points from the prior year[22] - The Other segment reported an underwriting loss of $429 million in Q4 2024, with total incurred losses and LAE of $457 million[25] - Current accident year losses increased by $229 million for the Group, with $206 million in Insurance and $22 million in Other[8] Investment Income - Net investment income increased to approximately $2 billion, a company record, up over $500 million from the previous year[5] - The net investment income for the quarter was $473 million, compared to $411 million in the same quarter of 2023, reflecting a growth of 15.1%[48] - After-tax net gains on investments for Q4 2024 were $56 million, or $1.33 per diluted share, compared to a loss of $(220) million or $(5.06) per diluted share in Q4 2023[34] - The company reported an after-tax net foreign exchange income of $132 million, or $3.10 per diluted share, in Q4 2024, compared to an expense of $(69) million or $(1.60) per diluted share in Q4 2023[34] Shareholder Metrics - Total shareholder return (TSR) was 9.2% for the year[14] - Shareholders' equity increased to $13.9 billion as of December 31, 2024, compared to $13.2 billion a year earlier[31] - Book value per share rose to $322.97 from $304.29 at the end of 2023[31] - The average adjusted shareholders' equity for the quarter was $15,140 million, up from $13,509 million in the same quarter of the previous year, an increase of 12.1%[42] - Dividends paid to shareholders increased to $334 million in 2024 from $288 million in 2023, an increase of 16.0%[50] Assets and Liabilities - Total assets increased to $56,341 million in 2024 from $49,399 million in 2023, representing a growth of 14.8%[49] - Total liabilities rose to $42,466 million in 2024, up from $36,197 million in 2023, reflecting an increase of 17.8%[49] - The reserve for losses and loss adjustment expenses increased to $29,889 million in 2024, up from $24,604 million in 2023, a rise of 21.5%[49] - The total claims and expenses for the twelve months ended December 31, 2024, amounted to $15,787 million, up from $12,432 million in 2023, an increase of 27.5%[48] Cash Flow - Cash flows from operating activities increased to $4,957 million in 2024, up from $4,553 million in 2023, an increase of 8.9%[50] - Net cash used in investing activities was $(4,478) million in 2024, compared to $(5,902) million in 2023, indicating a reduction in cash outflow of 24.0%[50] Ratios and Performance Indicators - The attritional combined ratio for Q4 2024 was 91.6%, including 5.8 points of 2024 accident year loss reserve strengthening[6] - The attritional loss ratio for Q4 2024 was 63.9% for the Group, a decrease from 59.0% in Q4 2023, indicating improved underwriting performance[36] - The combined ratio for Q4 2024 was 135.5% for the Group, up from 93.2% in Q4 2023, reflecting increased losses and expenses[36] - The net operating income return on equity (ROE) is calculated to provide better comparability by removing variability in assessing operational results[41] - The attritional combined ratio excluding profit commission for the Group was 83.7% in Q4 2024, compared to 85.1% in Q4 2023, indicating a slight improvement[36]

Group 1 - Everest Group (NYSE: EG) has underperformed over the past year, with a 4% decline in share price, missing out on a broader equity rally [1] - The company's valuation is considered cheap, but disappointing underwriting results have negatively impacted overall performance [1] - The company has over fifteen years of experience in making contrarian bets based on macro views and stock-specific turnaround stories [1]

Core Viewpoint - Everest Group, Ltd. is expected to report its fourth-quarter 2024 earnings on February 3, with a mixed performance in previous quarters, beating estimates in three out of the last four quarters while missing in one [1] Premium Growth - The growth in net written premiums is anticipated to be driven by strong performance in the Reinsurance and Insurance segments, with an expected increase of 18.2% to $4.5 billion in the fourth quarter [2] - The Insurance segment is projected to benefit from increases in property, short tail business, specialty casualty business, and new business, with premiums earned expected to rise 4.3% to $1 billion [2] Reinsurance Segment - The Reinsurance segment is expected to show solid international growth, with premiums earned anticipated to improve by 14.5% to $3 billion in the fourth quarter [3] Investment Income - Net investment income is likely to increase by 2.1% year-over-year to $419.5 million, although the Zacks Consensus Estimate is higher at $495 million, indicating a 20.4% increase from the previous year [4] Revenue Expectations - Total revenues for the quarter are expected to reach $4.44 billion, reflecting a 21.3% increase from the year-ago figure, driven by higher net written premiums and net investment income [5] Underwriting Results - Despite potential volatility from catastrophe losses, underwriting results are expected to benefit from rate increases and exposure growth, with a projected combined ratio of 89.8, significantly better than the Zacks Consensus Estimate of 105 [6] - Underwriting income from the Insurance segment is estimated at $161.9 million, while the Reinsurance segment is expected to contribute $245.4 million [7] Claims and Expenses - Total claims and expenses are projected to increase by 7.9% to $3.6 billion, primarily due to higher incurred losses and various underwriting expenses [7] Loss Ratio and Share Buybacks - The attritional loss ratio is expected to improve due to contributions from both segments and disciplined underwriting practices, with share buybacks anticipated to positively impact the bottom line [8] Earnings Predictions - The Zacks Consensus Estimate for fourth-quarter earnings per share is pegged at a loss of $5.77, indicating a significant decrease of 122.9% from the year-ago quarter [8] Earnings ESP and Zacks Rank - Everest Group has an Earnings ESP of -43.22%, indicating a lower likelihood of an earnings beat, with the Most Accurate Estimate at a loss of $8.26 compared to the Zacks Consensus Estimate [10] - The company currently holds a Zacks Rank of 4 (Sell) [11]

Core Viewpoint - Wall Street anticipates a year-over-year decline in earnings for Everest Group despite higher revenues, with actual results being crucial for stock price movement [1][2]. Company Summary - Everest Group is expected to report a quarterly loss of $5.77 per share, reflecting a year-over-year change of -122.9% [3]. - Revenues are projected to be $4.44 billion, which is an increase of 21.3% from the previous year [3]. - The consensus EPS estimate has been revised down by 7.56% over the last 30 days, indicating a bearish sentiment among analysts [4]. - The Most Accurate Estimate for Everest Group is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -43.22% [10][11]. Earnings Surprise History - In the last reported quarter, Everest Group had an expected EPS of $11.91 but delivered $14.62, achieving a surprise of +22.75% [12]. - Over the past four quarters, the company has beaten consensus EPS estimates three times [13]. Industry Context - In the Zacks Insurance - Multi line industry, The Hartford is expected to post earnings of $2.67 per share, indicating a year-over-year change of -12.8% [17]. - The Hartford's revenue is expected to be $4.77 billion, up 10.6% from the previous year [17]. - The consensus EPS estimate for The Hartford has been revised down by 0.5% over the last 30 days, resulting in an Earnings ESP of -3.21% [18].

Rockville, Maryland, Dec. 17, 2024 (GLOBE NEWSWIRE) -- Zyter|TruCare, a leading, clinically driven healthcare services and technology provider, proudly announces its recognition as a Major Contender in Everest Group’s Patient and Member Engagement Platforms PEAK Matrix® Assessment 2024. This acknowledgment underscores the company's commitment to developing tailored healthcare solutions that enhance patient experiences and outcomes.  Everest Group's comprehensive evaluation of 20 leading providers in the pat ...

A month has gone by since the last earnings report for Everest Group (EG) . Shares have added about 9.4% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Everest Group due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. Everest Group Q3 Earnings, Revenues Miss on Higher ...

WINDSOR, Conn., Nov. 26, 2024 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced SS&C Blue Prism has been named a process orchestration Leader in the Everest Group Process Orchestration Products PEAK Matrix® Assessment 2024."SS&C Blue Prism has reinforced its position as a Leader for the second consecutive year on Everest Group's Process Orchestration Products PEAK Matrix® Assessment 2024. The depth and breadth of its product capabilities, a unified platform approach, investment ...

Shares of Everest Group, Ltd. (EG) have gained 10.1% year to date, underperforming the industry’s growth of 24.1% and the Zacks S&P 500 composite’s return of 25.4%.EG Lags Industry & S&P YTDImage Source: Zacks Investment ResearchClosing at $389.00 in the last trading session, the stock stands below its 52-week high of $417.04. The expected long-term earnings growth rate is pegged at 2.3%, lower than the industry average of 12.5%.The insurer has been experiencing an increase in expenses due to higher incurre ...

WOBURN, Mass., Nov. 25, 2024 (GLOBE NEWSWIRE) -- Analytix Solutions has secured a prominent position in the Everest Group's 2024 Finance and Accounting Outsourcing (FAO) PEAK Matrix® Assessment, earning the designation 'Aspirant.' This recognition positions the company among the dynamic and rapidly evolving players in the global outsourcing market. About Everest Group Everest Group is a leading global research firm helping business leaders make confident decisions. Everest Group's PEAK Matrix® assessments p ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q X Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2024 Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission file number 1-15731 EVEREST GROUP, LTD. (Exact name of registrant as specified in its charter) Bermuda 98-0365432 (State or other jurisdiction of incorporation or organizat ...