Everest Re beats big on cat and prior-year releases

Everest Re smashed fourth quarter earnings forecasts with
operating profits that were up 53 percent to $556mn, aided by
favourable prior-year development and a reduction in loss estimates
for the Q3 cat events.
The Bermudian generated operating earnings per share (EPS) of
$13.48 for the quarter that were well ahead of the $5.17 consensus
forecast of 10 analysts polled by MarketWatch.
The operating EPS number excluded realised capital gains and a
$0.20 a share charge to reflect the impact of...