NYSE$EG
Everest Group Ltd · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Everest reported excellent Q3 2023 results, delivering outstanding returns with a near 20% operating return on equity and an annualized 25% total shareholder return.
Everest Group reported a strong third quarter in 2023, marked by significant growth in gross written premiums, particularly in the reinsurance segment, and improved underwriting margins. The company's net income reached $678 million, and operating income was $613 million, driven by underwriting improvements and strong investment income.
- Net income of $678 million and operating income of $613 million.
- Gross written premium grew by 23.4% year-over-year to $4.4 billion.
- Combined ratio improved to 91.4%, driven by better pricing and lower catastrophe losses.
- Net investment income increased to $406 million.
Headline financials
Revenue & EPS history
Everest · Revenue · Quarterly
$3.99B
Revenue by segment
Everest · $2.4B total across 2 segments · Q4 2019
- Reinsurance$1.64B—68.4%
- Insurance$759M—31.6%
Forward guidance
Everest has significant momentum heading into the final quarter of the year, with strong tailwinds and exceptional talent powering disciplined execution and industry-leading shareholder returns.
Tailwinds
- Favorable conditions and the global flight to quality persist in the hard reinsurance market.
- Well-positioned for the upcoming January renewals as a lead market and preferred partner.
- Expanding global reinsurance portfolio at significantly improved risk adjusted returns.
- Primary insurance business continues to generate strong and consistent underwriting income, with a significant year-over-year improvement.
- High-quality investment portfolio continues to deliver outstanding returns, generating over $400 million in net investment income in the quarter, and over $1 billion year-to-date.
Headwinds
- General economic conditions
- Conditions affecting the insurance and reinsurance industry
- Adequacy of reserves
- Ability to assess underwriting risk
- Trends in rates for property and casualty insurance and reinsurance
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 Q3 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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