Second quarter results for 2007 reveals steady growth

Everest Re reported second quarter after-tax operating income, which excludes realised capital gains and losses, of $213.3m, or $3.36 per diluted share, compared to $218.7m, or $3.35 per diluted share, for the second quarter of last year.

Net income, including net realised capital gains and losses, was $282.9m for the second quarter of 2007, up from $220.4m for the second quarter of 2006. Net income per diluted share grew by 31.7% to $4.45 in this year’s second quarter from $3.38 in the second quarter of 2006.

Commenting on the Company’s results, chairman and chief executive officer, Joseph Taranto said, “The earnings power evident in recent quarters highlights the strength of Everest’s franchise. In an increasingly challenging marketplace, we have maintained our discipline and focus, always keeping our eyes on the bottom line.”