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EVEREST GROUP (EG)

Q3 2023 Earnings Summary

Reported on Jan 4, 2025
Pre-Earnings PriceN/ADate unavailable
Post-Earnings PriceN/ADate unavailable
Price ChangeN/A
  • Strong Capital Deployment and Growth Opportunities: $EG is fully committed to deploying the capital raised earlier this year by the January 1 renewals, with significant growth expected in property catastrophe reinsurance due to strong demand and favorable market conditions.
  • Robust Risk Management Amidst Growth: Despite substantial growth in both reinsurance and insurance operations, $EG maintains a very robust risk management process, ensuring that they manage risk aggregation effectively and focus on achieving better risk-adjusted returns without breaching their risk tolerances.
  • Positive Outlook on Alternative Capital Platform (Mt. Logan): Mt. Logan, $EG's alternative capital vehicle, has had a solid year, raising over $250 million, bringing assets under management to just under $1.1 billion, indicating strong investor demand and positioning the company for further successes in 2024.
  • Everest is experiencing increased expenses due to investments in human capital and technology, potentially leading to higher expense ratios. ,
  • Social inflation is a real concern in the casualty reinsurance market, which needs to be managed and could impact future returns.
  • Substantial growth in property reinsurance and insurance may increase risk aggregation and exposure to catastrophe risks, despite the company's confidence in their risk management processes.

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