Everest Re Q3 Profit Tops Estimates

(RTTNews) - Everest Re Group, Ltd. (RE) reported third quarter net income of $274.9 million or $6.00 per share, compared to $234.8 million or $4.81 per share for the year-ago quarter.

Excluding realized capital gains and losses, operating earnings for the third quarter were $280.5 million or $6.12 per share, compared to $205.0 million or $4.20 per share in the prior year quarter.

Total revenues for the third quarter rose to $1.54 billion from $1.40 billion a year ago.

Analysts polled by Thomson Reuters expected the company to earn $4.79 per share on revenue of $1.23 billion for the third quarter. Analysts' estimates typically exclude special items.

Gross written premiums for the third quarter were $1.7 billion, an increase of 14% compared to the third quarter of 2013.