Everest Re, a Bermuda-based reinsurer, has published its third quarter results with a net income of $295.4 million for 2016, compared with $88.6 million in the same period for 2015.
The third quarter 2016 results have also shown a 3 percent increase in the company’s gross written premiums compared with the 2015 period.
The combined ratio for the quarter was 85.6 percent, compared with 90.6 percent in the third quarter of 2015.
“We are very pleased with this quarter’s results,” said Dominic Addesso, CEO of Everest Re.
“Continued momentum in our insurance operations coupled with the stability of our reinsurance book is fostering these strong results and providing shareholders double digit returns, with an 11 percent annualised operating return on equity for the first nine months of the year,” he added.
Everest Re, Bermuda, Insurance, Reinsurance, Third quarter 2016 results, Results, Dominic Addesso