Everest Re Group 2010
Everest Re Group Ltd consolidated results year ended 31 December ● US$ mn Category 2006 2007 2008 2009 2010 Gross written premium 4,000.87 4,077.57 3,678.14 4,128.96 4,200.72 Net written premium 3,875.71 3,919.44 3,505.21 3,929.76 3,945.58 Increased NWP % (2.4) 1.1 (10.6) 12.1 0.4 Retention 96.9 96.1 95.3 95.2 93.9 Net earned premium 3,853.15 3,997.50 3,694.30 3,894.10 3,934.63 Claims incurred 2,434.42 2,548.14 2,438.97 2,374.06 2,945.71 Claims incurred % NEP 63.2 63.7 66.0 61.0 74.9 Operating expenses 994.7 1,101.31 1,079.23 1,095.51 1,098.11 Operating expenses % NWP 25.7 28.1 30.8 27.9 27.8 Underwriting result 424.03 348.05 176.10 424.53 (109.20) Underwriting result % NWP 10.9 8.9 5.0 10.8 (2.8) Combined ratio 89.0 91.30 95.2 89.1 102.8 Life GWP - - - - - Life NWP - - - - - Life result - - - - - Net investment income 629.38 682.39 565.89 547.79 653.46 Net realised gains/(losses) 35.07 86.28 (695.83) (2.31) 101.91 Pre-tax result 991.75 1,027.96 (83.61) 939.32 591.24 Pre-tax % NWP 25.6 26.2 (2.4) 23.9 15.0 Net income 840.83 839.28 (18.76) 806.99 610.75 Shareholders' funds 5,107.69 5,684.77 4,960.36 6,101.72 6,283.52 Solvency margin 131.8 145.0 141.5 155.3 159.3 Unearned premium reserve 1,612.25 1,567.10 1,335.51 1,415.40 1,455.22 Outstanding claims reserve 8,031.62 8,333.08 8,150.15 8,296.59 8,650.74 Total technical provisions 9,643.87 9,900.18 9,485.66 9,711.99 10,105.96 Technical reserves as % NWP 248.8 252.6 270.6 247.1 256.1 Overall coverage as % NWP 380.6 397.6 412.1 402.4 415.4