Everest Re Group

The impact of the tougher market conditions that prevailed last year are most tellingly reflected in the 18.0% decline in Everest Re’s underwriting result from a profit of $424.0mn in 2006 to a profit of $348.0mn in 2007

The Bermuda based Everest Re group saw a marginal decline (0.2%) in its net income from a profit of $840.8mn in 2006 to a profit of $839.3mn in 2007. But last year was a little less restful for Everest Re than might be inferred from the static nature of the group’s overall net result. Certainly, Everest Re was not resting on the laurels of its record performance in 2006 when, benefiting from the hard market conditions in the wake of Hurricanes Katrina, Rita and Wilma and a period free of significant insured catastrophe damage, it increased its net result by 484.5% from a loss of $218.7mn to a profit of $840.1mn.