Everest Re Group, Ltd. (RE) Q1 2022 Earnings Conference Call April 28, 2022 8:00 AM ET Company Participants Jon Levenson - Head, IR Juan Andrade - President & Chief Executive Officer Mark Kociancic - EVP & CFO Jim Williamson - Group COO Mike Karmilowicz - President & CEO, Everest Insurance Conference Call Participants Yaron Kinar - Jeffries Joshua Shanker - Bank of America Ryan Tunis - Autonomous Research Elyse Greenspan - Wells Fargo Mike Phillips - Morgan Stanley Brian Meredith - UBS Meyer Shields - KBW O ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K _X_ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2021 ___ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission file number 1-15731 EVEREST RE GROUP, LTD. (Exact name of registrant as specified in its charter) Bermuda 98-0365432 (State or other jurisdiction of (I.R.S. Employer incorporation or organizati ...

Everest Re Group, Ltd. (RE) Q4 2021 Earnings Conference Call February 10, 2022 8:00 AM ET Company Participants Jon Levenson - Head of Investor Relations Juan Andrade - President & Chief Executive Officer Mark Kociancic - Executive Vice President & Chief Financial Officer Jim Williamson - Group Chief Operating Officer Mike Karmilowicz - President & Chief Executive Officer, Everest Insurance Conference Call Participants Joshua Shanker - Bank of America. Michael Phillips - Morgan Stanley Elyse Greenspan - Well ...

UNITED STATES Bermuda 98-0365432 (State or other jurisdiction of Non-accelerated filer Smaller reporting company Emerging growth company SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q _X_ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2021 ___ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission file number 1-15731 EVEREST RE GROUP, LTD. (Exact name of reg ...

Everest Re Group, Ltd. (RE) Q3 2021 Earnings Conference Call October 28, 2021 8:00 AM ET Company Participants Jon Levenson - Head of Investor Relations Juan Andrade - President & Chief Executive Officer Mark Kociancic - Executive Vice President & Chief Financial Officer Jim Williamson - Group Chief Operating Officer Mike Karmilowicz - President & Chief Executive Officer, Everest Insurance Conference Call Participants Elyse Greenspan - Wells Fargo Mike Zaremski - Wolfe Research Michael Phillips - Morgan Stan ...

UNITED STATES Bermuda 98-0365432 (State or other jurisdiction of Non-accelerated filer Smaller reporting company Emerging growth company SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q _X_ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2021 ___ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission file number 1-15731 EVEREST RE GROUP, LTD. (Exact name of registra ...

Everest Re Group, Ltd. (RE) Q2 2021 Earnings Conference Call July 29, 2021 8:00 AM ET Company Participants Jon Levenson - Head of Investor Relations Juan Andrade - President & Chief Executive Officer Mark Kociancic - Executive Vice President & Chief Financial Officer Jim Williamson - Group Chief Operating Officer Mike Karmilowicz - President & Chief Executive Officer, Everest Insurance Conference Call Participants Elyse Greenspan - Wells Fargo Michael Phillips - Morgan Stanley Josh Shanker - Bank of America ...

[PART I FINANCIAL INFORMATION](index=3&type=section&id=PART%20I%20FINANCIAL%20INFORMATION) [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) The unaudited consolidated financial statements for Q1 2021 show net income surged to $341.9 million, total assets grew to $33.6 billion, and shareholders' equity slightly decreased [Consolidated Balance Sheets](index=4&type=section&id=Consolidated%20Balance%20Sheets) As of March 31, 2021, total assets increased to $33.6 billion, total liabilities rose to $23.9 billion, and shareholders' equity slightly decreased to $9.68 billion Consolidated Balance Sheet Highlights (in thousands) | Balance Sheet Item | March 31, 2021 (unaudited) | December 31, 2020 | | :--- | :--- | :--- | | **Total Assets** | **$33,595,352** | **$32,788,357** | | Total investments and cash | $25,940,804 | $25,461,591 | | **Total Liabilities** | **$23,912,470** | **$23,062,181** | | Reserve for losses and loss adjustment expenses | $17,090,644 | $16,398,997 | | **Total Shareholders' Equity** | **$9,682,882** | **$9,726,176** | [Consolidated Statements of Operations](index=5&type=section&id=Consolidated%20Statements%20of%20Operations) For Q1 2021, net income significantly increased to $341.9 million, driven by a 38% rise in total revenues to $2.74 billion and a shift to net realized capital gains Statement of Operations Summary (in thousands, except per share amounts) | Metric | Three Months Ended March 31, 2021 | Three Months Ended March 31, 2020 | | :--- | :--- | :--- | | **Total Revenues** | **$2,743,773** | **$1,982,016** | | Premiums earned | $2,387,865 | $2,036,814 | | Net investment income | $260,413 | $147,800 | | Net realized capital gains (losses) | $38,902 | $(210,588) | | **Total Claims and Expenses** | **$2,370,678** | **$2,025,638** | | **Income (Loss) Before Taxes** | **$373,095** | **$(43,622)** | | **Net Income (Loss)** | **$341,862** | **$16,612** | | **Diluted Earnings Per Share** | **$8.52** | **$0.41** | [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) For Q1 2021, operating cash flow was strong at $904.4 million, investing activities used $455.5 million, and financing activities used $108.9 million, increasing cash by $331.0 million Cash Flow Summary (in thousands) | Cash Flow Activity | Three Months Ended March 31, 2021 | Three Months Ended March 31, 2020 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | **$904,366** | **$505,989** | | **Net cash used in investing activities** | **$(455,521)** | **$(258,181)** | | **Net cash used in financing activities** | **$(108,864)** | **$(241,050)** | | Net increase (decrease) in cash | $331,009 | $9,590 | | Cash, end of period | $1,132,660 | $817,626 | [Notes to Consolidated Interim Financial Statements](index=8&type=section&id=Notes%20to%20Consolidated%20Interim%20Financial%20Statements) The notes detail accounting policies, showing a $20.4 billion fixed maturity portfolio, $17.1 billion in loss reserves, over $1 billion in credit facilities, and significant reinsurance agreements - The investment portfolio of available-for-sale fixed maturity securities increased to a market value of **$20.4 billion** as of March 31, 2021, up from $20.0 billion at year-end 2020[35](index=35&type=chunk) - Gross reserves for losses and loss adjustment expenses (LAE) increased to **$17.1 billion** at the end of Q1 2021 from $16.4 billion at the end of 2020. The increase was primarily due to a **$240 million** increase in catastrophe losses and growth in premiums earned[54](index=54&type=chunk) - The company utilizes several collateralized reinsurance agreements with Kilimanjaro, financed by catastrophe bonds, to cover named storm and earthquake events. New agreements were entered into in April 2021 for multi-year coverage[101](index=101&type=chunk)[102](index=102&type=chunk)[106](index=106&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operation](index=32&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operation) Management attributes strong Q1 2021 results to growth in both segments, with gross written premiums up 14.0%, net income surging to $341.9 million, and a combined ratio of 98.1% Financial Highlights Q1 2021 vs Q1 2020 (in millions) | Metric | Q1 2021 | Q1 2020 | % Change | | :--- | :--- | :--- | :--- | | Gross Written Premiums | $2,931.4 | $2,570.9 | 14.0% | | Premiums Earned | $2,387.9 | $2,036.8 | 17.2% | | Net Investment Income | $260.4 | $147.8 | 76.2% | | Net Income (Loss) | $341.9 | $16.6 | NM | | Combined Ratio | 98.1% | 98.6% | (0.5) pts | - Gross written premiums increased by **14.0% YoY**, driven by a **15.8%** increase in the reinsurance business and a **10.0%** increase in the insurance business[145](index=145&type=chunk) - The company recorded **$270.0 million** in current year catastrophe losses for Q1 2021, primarily from the Texas winter storms (**$260.0 million**) and Australia floods (**$10.0 million**). This is a significant increase from the **$30.0 million** in catastrophe losses in Q1 2020[152](index=152&type=chunk) [Segment Results](index=38&type=section&id=Segment%20Results) Both segments showed strong premium growth, with Reinsurance gross written premiums up 15.8% to $2.1 billion and Insurance up 10.0% to $872.4 million, improving its combined ratio Reinsurance Segment Underwriting Results (in millions) | Metric | Q1 2021 | Q1 2020 | | :--- | :--- | :--- | | Gross Written Premiums | $2,059.0 | $1,777.8 | | Premiums Earned | $1,777.5 | $1,485.2 | | Underwriting Gain | $44.8 | $50.1 | | Combined Ratio | 97.5% | 96.6% | Insurance Segment Underwriting Results (in millions) | Metric | Q1 2021 | Q1 2020 | | :--- | :--- | :--- | | Gross Written Premiums | $872.4 | $793.1 | | Premiums Earned | $610.4 | $551.6 | | Underwriting Gain (Loss) | $0.4 | $(21.5) | | Combined Ratio | 99.9% | 103.9% | [Financial Condition and Liquidity](index=42&type=section&id=Financial%20Condition%20and%20Liquidity) The company maintains a robust financial condition with $25.9 billion in cash and invested assets, strong liquidity from $904.4 million operating cash flow, and capital levels above regulatory requirements - Shareholders' equity decreased slightly from **$9,726.2 million** at year-end 2020 to **$9,682.9 million** at March 31, 2021. The decrease was driven by **$292.3 million** of unrealized investment depreciation and **$62.2 million** in dividends, which offset the **$341.9 million** of net income[214](index=214&type=chunk) - The company's capital management strategy included repurchasing **97,462 shares** for **$23.5 million** and paying **$62.2 million** in dividends during Q1 2021[221](index=221&type=chunk) - The company maintains strong liquidity with **$1.96 billion** in cash and short-term investments, positive operating cash flow of **$904.4 million** for the quarter, and access to multiple credit facilities[225](index=225&type=chunk)[227](index=227&type=chunk)[229](index=229&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=48&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company faces interest rate, equity price, and foreign currency risks, with a $21.2 billion fixed maturity portfolio sensitive to rate changes and a $1.4 billion equity portfolio exposed to price fluctuations Interest Rate Sensitivity on Fixed Maturity Portfolio (in millions) | Interest Rate Change | Market/Fair Value Change from Base (%) | Change in After-tax Unrealized Appreciation ($) | | :--- | :--- | :--- | | -100 bps | +3.4% | +$640.2 | | +100 bps | -3.4% | -$640.2 | Equity Price Risk Sensitivity (in millions) | Equity Price Change | Fair/Market Value of Equity Portfolio | After-tax Change in Fair/Market Value | | :--- | :--- | :--- | | -10% | $1,260.6 | $(113.8) | | +10% | $1,540.7 | $113.8 | [Item 4. Controls and Procedures](index=51&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of March 31, 2021, with no material changes to internal control over financial reporting - The CEO and CFO concluded that the company's disclosure controls and procedures are effective[253](index=253&type=chunk) [PART II OTHER INFORMATION](index=51&type=section&id=PART%20II%20OTHER%20INFORMATION) [Item 1. Legal Proceedings](index=51&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in routine lawsuits and arbitrations related to its insurance and reinsurance business, with no other material litigation - The company is involved in routine litigation and arbitration related to its insurance and reinsurance agreements but is not a party to any other material litigation[254](index=254&type=chunk)[255](index=255&type=chunk) [Item 1A. Risk Factors](index=51&type=section&id=Item%201A.%20Risk%20Factors) No material changes to the company's previously disclosed risk factors were reported for the period - No material changes to risk factors were reported for the period[256](index=256&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=52&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q1 2021, the company repurchased 97,462 of its own shares as part of its publicly announced share repurchase program Issuer Purchases of Equity Securities (Q1 2021) | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | Jan 1 - 31, 2021 | - | - | | Feb 1 - 28, 2021 | 4,100 | $241.4919 | | Mar 1 - 31, 2021 | 93,362 | $241.7088 | | **Total** | **97,462** | **N/A** |

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K _X_ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2020 ___ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission file number 1-15731 EVEREST RE GROUP, LTD. (Exact name of registrant as specified in its charter) Bermuda 98-0365432 (State or other jurisdiction of (I.R.S. Employer incorporation or organizati ...

Everest Re Group, Ltd. (RE) Q4 2020 Earnings Conference Call February 9, 2021 8:00 AM ET Company Participants Jon Levenson – Head-Investor Relations. Juan Andrade – President and Chief Executive Officer Mark Kociancic – Executive Vice President and Group Chief Financial Officer Jim Williamson – Executive Vice President and Group Chief Operating Officer John Doucette – Executive Vice President and President and Chief Executive Officer-Reinsurance Division Mike Karmilowicz – President and Chief Executive Offi ...