Everest shifts to $301mn Q3 UW gain as pre-tax cat losses plummet 79% to $175mn

Published: Thu 26 Oct 2023

Everest moved to a $301mn pre-tax underwriting gain in the third quarter from a $367mn loss last year, driven by a 79 percent reduction in pre-tax cat losses to $175mn and 120bps of improvement in the firm’s attritional loss ratio to 59 percent.