The company said gross written premiums rose 0.8% to $4.4 billion for the 3 months ended September 30, 2024, and net income was $509 million, compared with $678 million a year earlier.

1. 01

   The company said gross written premiums rose 0.8% to $4.4 billion for the 3 months ended September 30, 2024, and net income was $509 million, compared with $678 million a year earlier.

2. 02

   The company said incurred losses and LAE rose 15.0% to $2.6 billion in Q3 2024, with current year catastrophe losses of $310 million, and that its combined ratio was 93.1% (91.4% in the prior-year period).

3. 03

   Everest Group recorded other expense of $102 million for Q3 2024, compared with other income of $103 million a year earlier. It cited changes in foreign exchange rates as the driver of the change. Net investment income for the same period rose 22.2% to $496 million.

4. 04

   Everest Group said shareholders' equity was $15.3 billion as of September 30, 2024, compared with $13.2 billion as of December 31, 2023. For the 9 months ended 2024, it said net cash flow from operating activities was $4.2 billion, share repurchases were $200 million, and dividends paid were $249 million.

Key figures

Quarter ended September 30, 2024

Revenue

$4.3B

Net income

$509M

EPS

$11.80

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.