Everest Group has published its latest set of financial results.
In its earnings report, the global underwriter announced the following figures:
|
Metric |
Q4 2023 |
Q4 2022 |
FY 2023 |
FY 2022 |
|---|---|---|---|---|
|
Net income (loss) |
$804 million |
$496 million |
$2.5 billion |
$597 million |
|
Operating income (loss) |
$1.1 billion |
$478 million |
$2.8 billion |
$1.1 billion |
Commenting on the numbers, president and chief executive Juan C. Andrade said: “Everest’s strong fourth quarter performance capped off an exceptional 2023, delivering record annual results in underwriting income, net investment income, operating income, net income, and cash flow from operations.
“We executed on our strategic objectives, while delivering an operating ROE (return on equity) of over 23% and a total shareholder return of over 26% for the full year. 2023 was the most profitable year in our history.
“The Everest of today is a stronger and more sophisticated company. We are delivering leading financial returns, and we are on track to achieve the targets we set out at our most recent Investor Day.”
What do you think about this story? Share your thoughts in the comments below.
