Everest Re beats on Q3 earnings despite cat losses

Everest Re reported a 29 percent drop in third quarter operating
income to $200.2mn but still came in comfortably ahead of Wall
Street expectations.
At $4.53 a share, the performance was ahead of analysts'
consensus forecasts of $4.02 a share.
However net profits dropped significantly from $274.9mn to
$88.6mn as realized capital losses of $111.7mn hit the bottom
line.
Meanwhile, operating profits were dented as net investment
income dropped almost 19 percent to $115.5mn.
On the underwriting side