NYSE$EG
Everest Group Ltd · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Everest reported record operating income and strong premium growth, driven by favorable market conditions and underwriting discipline.
Everest Group reported a strong second quarter in 2023, with record operating income of $627 million and net income of $670 million. The company experienced significant growth in gross written premiums, particularly in reinsurance, and improved its combined ratio. Strong investment income and operating cash flow contributed to the positive results.
- Record operating income of $627 million and net income of $670 million.
- GWP grew by 22.3%, led by reinsurance growth of 26.9%.
- Combined ratio improved to 87.7%, driven by better pricing and lower catastrophe losses.
- Net investment income increased to $357 million, supported by strong fixed income and alternative investment returns.
Headline financials
Revenue & EPS history
Everest · Revenue · Quarterly
$3.65B
Revenue by segment
Everest · $2.4B total across 2 segments · Q4 2019
- Reinsurance$1.64B—68.4%
- Insurance$759M—31.6%
Forward guidance
Everest anticipates favorable market conditions to persist into 2024, expecting to capitalize on abundant market opportunities through its diversified platform and underwriting discipline.
Tailwinds
- Continued premium growth.
- Expanding margins.
- Strong underwriting profits.
- Lead market position in reinsurance.
- Firming rates in primary insurance.
Headwinds
- Impact of general economic conditions.
- Conditions affecting the insurance and reinsurance industry.
- Adequacy of reserves.
- Ability to assess underwriting risk.
- Competition.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+0.2%
Avg return
Earnings day
+0.8%
Avg return
5 days after
+2.0%
Avg return
30 days after
57%
39 / 68 earnings
Positive
+8.4%
Q1 2011
Best reaction
-11.4%
Q3 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.9% | +1.6% | -5.9% | |
| Q4 2025 | -2.3% | -0.9% | +0.2% | |
| Q3 2025 | -11.4% | -8.6% | -9.3% | |
| Q1 2025 | -6.0% | -4.0% | -3.2% | |
| Q4 2024 | -1.5% | -2.1% | +5.3% | |
| Q3 2024 | -5.6% | -7.7% | +2.9% | |
| Q2 2024 | -5.4% | -8.5% | +0.7% | |
| Q1 2024 | +0.5% | +1.4% | +4.9% | |
| Q4 2023 | -6.8% | -5.2% | -3.4% | |
| Q3 2023 | -3.5% | -1.1% | +4.3% | |
| Q2 2023 | -2.4% | -1.7% | -3.7% | |
| Q1 2023 | +1.1% | -0.7% | -10.0% | |
| Q4 2022 | +6.6% | +7.6% | +0.5% | |
| Q3 2022 | +6.6% | +14.0% | +18.1% | |
| Q2 2022 | -5.0% | -7.2% | +0.4% | |
| Q1 2022 | +1.5% | -0.4% | +2.3% | |
| Q4 2021 | +0.4% | +0.9% | -6.5% | |
| Q3 2021 | -6.7% | -7.4% | -6.4% | |
| Q2 2021 | +1.0% | +4.0% | +9.3% | |
| Q1 2021 | +2.0% | +1.9% | -2.7% | |
| Q4 2020 | +6.2% | +11.0% | +14.0% | |
| Q3 2020 | +0.4% | +9.9% | +19.0% | |
| Q2 2020 | +3.0% | +6.8% | -0.7% | |
| Q1 2020 | +3.6% | +6.7% | +34.8% | |
| Q4 2019 | +3.2% | +3.1% | -19.3% | |
| Q3 2019 | +3.1% | +4.3% | +9.7% | |
| Q2 2019 | -3.0% | -6.3% | -7.7% | |
| Q1 2019 | +3.4% | +4.2% | +6.1% | |
| Q4 2018 | -4.2% | -2.2% | -1.6% | |
| Q3 2018 | +7.1% | +7.0% | +5.6% | |
| Q2 2018 | -3.5% | -2.4% | -1.5% | |
| Q1 2018 | -5.2% | -4.9% | -7.0% | |
| Q4 2017 | +5.5% | +4.4% | +11.3% | |
| Q3 2017 | +0.2% | -3.8% | -6.0% | |
| Q2 2017 | -1.3% | -3.8% | -2.7% | |
| Q1 2017 | +7.8% | +7.7% | +5.9% | |
| Q4 2016 | +2.8% | +4.1% | +5.2% | |
| Q3 2016 | +4.6% | +4.2% | +8.7% | |
| Q2 2016 | +1.9% | +4.3% | +4.5% | |
| Q1 2016 | -3.9% | — | — | |
| Q4 2015 | +3.3% | — | — | |
| Q3 2015 | +1.3% | — | — | |
| Q2 2015 | -3.9% | — | — | |
| Q1 2015 | -0.6% | — | — | |
| Q4 2014 | +3.2% | — | — | |
| Q3 2014 | -1.0% | — | — | |
| Q2 2014 | -0.5% | — | — | |
| Q1 2014 | -0.5% | — | — | |
| Q4 2013 | -3.3% | — | — | |
| Q3 2013 | -4.4% | — | — | |
| Q2 2013 | -0.8% | — | — | |
| Q1 2013 | +4.8% | — | — | |
| Q4 2012 | +0.8% | — | — | |
| Q3 2012 | +3.2% | — | — | |
| Q2 2012 | +1.5% | — | — | |
| Q1 2012 | +1.0% | — | — | |
| Q4 2011 | +2.1% | — | — | |
| Q3 2011 | -3.3% | — | — | |
| Q2 2011 | +4.0% | — | — | |
| Q1 2010 | -0.6% | — | — | |
| Q1 2011 | +8.4% | — | — | |
| Q4 2010 | -1.4% | — | — | |
| Q4 2008 | -1.4% | — | — | |
| Q3 2010 | +0.5% | — | — | |
| Q3 2009 | +0.5% | — | — | |
| Q2 2010 | +2.1% | — | — | |
| Q4 2009 | +2.1% | — | — | |
| Q2 2009 | +2.1% | — | — |
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