Q3 2023 Earnings Summary
Reported on Jan 4, 2025 (After Market Close)
Pre-Earnings Price$383.22Last close (Oct 26, 2023)
Post-Earnings Price$383.15Open (Oct 27, 2023)
Price Change
$-0.07(-0.02%)
- 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.
Research analysts covering EVEREST GROUP.