14.2% Net Income ROE, 17.2 % Operating ROE<\/b><\/p>\n
91.2% Combined Ratio and 87.5% Attritional Combined Ratio<\/b><\/p>\n
HAMILTON, Bermuda–(BUSINESS WIRE<\/a>)– First Quarter 2023 Highlights<\/span><\/p>\n \nFootnote 1 in header denotes constant currency figure.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\u201cEverest had a strong start to the year, with first quarter results that delivered significant underwriting profit, a 17.2% operating return on equity and a total shareholder return in excess of 14%,\u201d said Juan C. Andrade, Everest President & CEO. \u201cWe delivered profitable growth across both underwriting franchises, particularly in reinsurance, where we continued to drive expanding margins. With our industry leading position, ongoing flight to quality, and relentless execution, we are well equipped to take advantage of market tailwinds. We also continued to invest in scaling our primary business in a disciplined manner. The insurance division generated an increased year-over-year underwriting profit by capitalizing on our diversified portfolio and improved pricing conditions. We advanced many of our strategic objectives this quarter, resulting in improved risk adjusted returns across the portfolio, and continued to manage natural catastrophe volatility demonstrated by the limited exposure to the severe weather events in North America during the quarter. We remain focused on bolstering our world class talent and I am confident in their ability to capitalize on attractive market opportunities in the year ahead.\u201d<\/p>\n Summary of First Quarter 2023 Net Income and Other Items<\/span><\/p>\n \nThe following table summarizes the Company\u2019s Net Income and related financial metrics.<\/p>\n 2023<\/b><\/p>\n<\/td>\n 2023<\/b><\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n<\/tr>\n \n365<\/p>\n<\/td>\n \n365<\/p>\n<\/td>\n \n298<\/p>\n<\/td>\n \n298<\/p>\n<\/td>\n<\/tr>\n \n443<\/p>\n<\/td>\n \n443<\/p>\n<\/td>\n \n406<\/p>\n<\/td>\n \n406<\/p>\n<\/td>\n<\/tr>\n \n9.31<\/p>\n<\/td>\n \n9.31<\/p>\n<\/td>\n \n7.56<\/p>\n<\/td>\n \n7.56<\/p>\n<\/td>\n<\/tr>\n \n11.31<\/p>\n<\/td>\n \n11.31<\/p>\n<\/td>\n \n10.31<\/p>\n<\/td>\n \n10.31<\/p>\n<\/td>\n<\/tr>\n \n14.2%<\/p>\n<\/td>\n \n14.2%<\/p>\n<\/td>\n \n11.9%<\/p>\n<\/td>\n \n11.9%<\/p>\n<\/td>\n<\/tr>\n \n17.2%<\/p>\n<\/td>\n \n17.2%<\/p>\n<\/td>\n \n16.2%<\/p>\n<\/td>\n \n16.2%<\/p>\n<\/td>\n<\/tr>\n 2023<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2023<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n8,441<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,441<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,139<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,139<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n365<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n365<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n298<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,379<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n249<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n249<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(811<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(811<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n(65<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(65<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(61<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(61<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(1<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n24<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n24<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(36<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(36<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n9,014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9,014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9,528<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9,528<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n39.3<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n39.4<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n229.49<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n241.52<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n(37.15<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(14.49<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n266.64<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n256.01<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n7.2<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n14.1<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n6.60<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6.20<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nThe following information summarizes the Company\u2019s underwriting results, on a consolidated basis and by segment \u2013 Reinsurance and Insurance, with selected commentary on results by segment.<\/p>\n 2023<\/b><\/p>\n<\/td>\n 2023<\/b><\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n \n3,743<\/p>\n<\/td>\n \n3,743<\/p>\n<\/td>\n \n3,186<\/p>\n<\/td>\n \n3,186<\/p>\n<\/td>\n \n17.5%<\/p>\n<\/td>\n \n17.5%<\/p>\n<\/td>\n<\/tr>\n \n3,329<\/p>\n<\/td>\n \n3,329<\/p>\n<\/td>\n \n2,812<\/p>\n<\/td>\n \n2,812<\/p>\n<\/td>\n \n18.4%<\/p>\n<\/td>\n \n18.4%<\/p>\n<\/td>\n<\/tr>\n \n63.4%<\/p>\n<\/td>\n \n63.4%<\/p>\n<\/td>\n \n64.1%<\/p>\n<\/td>\n \n64.1%<\/p>\n<\/td>\n \n21.3%<\/p>\n<\/td>\n \n21.3%<\/p>\n<\/td>\n \n21.7%<\/p>\n<\/td>\n \n21.7%<\/p>\n<\/td>\n \n6.4%<\/p>\n<\/td>\n \n6.4%<\/p>\n<\/td>\n \n5.8%<\/p>\n<\/td>\n \n5.8%<\/p>\n<\/td>\n \n91.2%<\/p>\n<\/td>\n \n91.2%<\/p>\n<\/td>\n \n91.6%<\/p>\n<\/td>\n \n91.6%<\/p>\n<\/td>\n \n87.5%<\/p>\n<\/td>\n \n87.5%<\/p>\n<\/td>\n \n87.4%<\/p>\n<\/td>\n \n87.4%<\/p>\n<\/td>\n \n110<\/p>\n<\/td>\n \n110<\/p>\n<\/td>\n \n115<\/p>\n<\/td>\n \n115<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n(1)<\/p>\n<\/td>\n \n(1)<\/p>\n<\/td>\n Reinsurance Segment \u2013 Quarterly Highlights<\/b><\/p>\n 2023<\/b><\/p>\n<\/td>\n 2023<\/b><\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n \n2,637<\/p>\n<\/td>\n \n2,637<\/p>\n<\/td>\n \n2,186<\/p>\n<\/td>\n \n2,186<\/p>\n<\/td>\n \n20.6%<\/p>\n<\/td>\n \n20.6%<\/p>\n<\/td>\n<\/tr>\n \n2,454<\/p>\n<\/td>\n \n2,454<\/p>\n<\/td>\n \n2,081<\/p>\n<\/td>\n \n2,081<\/p>\n<\/td>\n \n17.9%<\/p>\n<\/td>\n \n17.9%<\/p>\n<\/td>\n<\/tr>\n \n62.9%<\/p>\n<\/td>\n \n62.9%<\/p>\n<\/td>\n \n64.1%<\/p>\n<\/td>\n \n64.1%<\/p>\n<\/td>\n \n25.0%<\/p>\n<\/td>\n \n25.0%<\/p>\n<\/td>\n \n24.9%<\/p>\n<\/td>\n \n24.9%<\/p>\n<\/td>\n \n2.8%<\/p>\n<\/td>\n \n2.8%<\/p>\n<\/td>\n \n2.4%<\/p>\n<\/td>\n \n2.4%<\/p>\n<\/td>\n \n90.8%<\/p>\n<\/td>\n \n90.8%<\/p>\n<\/td>\n \n91.4%<\/p>\n<\/td>\n \n91.4%<\/p>\n<\/td>\n \n85.9%<\/p>\n<\/td>\n \n85.9%<\/p>\n<\/td>\n \n86.2%<\/p>\n<\/td>\n \n86.2%<\/p>\n<\/td>\n \n108<\/p>\n<\/td>\n \n108<\/p>\n<\/td>\n \n110<\/p>\n<\/td>\n \n110<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n(2)<\/p>\n<\/td>\n \n(2)<\/p>\n<\/td>\n Insurance Segment \u2013 Quarterly Highlights<\/b><\/p>\n 2023<\/b><\/p>\n<\/td>\n 2023<\/b><\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n \n1,106<\/p>\n<\/td>\n \n1,106<\/p>\n<\/td>\n \n1,001<\/p>\n<\/td>\n \n1,001<\/p>\n<\/td>\n \n10.5%<\/p>\n<\/td>\n \n10.5%<\/p>\n<\/td>\n<\/tr>\n \n875<\/p>\n<\/td>\n \n875<\/p>\n<\/td>\n \n731<\/p>\n<\/td>\n \n731<\/p>\n<\/td>\n \n19.7%<\/p>\n<\/td>\n \n19.7%<\/p>\n<\/td>\n<\/tr>\n \n64.7%<\/p>\n<\/td>\n \n64.7%<\/p>\n<\/td>\n \n64.1%<\/p>\n<\/td>\n \n64.1%<\/p>\n<\/td>\n \n11.8%<\/p>\n<\/td>\n \n11.8%<\/p>\n<\/td>\n \n12.5%<\/p>\n<\/td>\n \n12.5%<\/p>\n<\/td>\n \n15.9%<\/p>\n<\/td>\n \n15.9%<\/p>\n<\/td>\n \n15.3%<\/p>\n<\/td>\n \n15.3%<\/p>\n<\/td>\n \n92.4%<\/p>\n<\/td>\n \n92.4%<\/p>\n<\/td>\n \n91.9%<\/p>\n<\/td>\n \n91.9%<\/p>\n<\/td>\n \n91.7%<\/p>\n<\/td>\n \n91.7%<\/p>\n<\/td>\n \n90.9%<\/p>\n<\/td>\n \n90.9%<\/p>\n<\/td>\n \n2<\/p>\n<\/td>\n \n2<\/p>\n<\/td>\n \n5<\/p>\n<\/td>\n \n5<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n1<\/p>\n<\/td>\n \n1<\/p>\n<\/td>\n Investments and Shareholders\u2019 Equity as of March 31, 2023<\/b><\/p>\n This news release contains forward-looking statements within the meaning of the U.S. federal securities laws. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. Federal securities laws. These statements involve risks and uncertainties that could cause actual results to differ materially from those contained in forward-looking statements made on behalf of the Company. These risks and uncertainties include the impact of general economic conditions and conditions affecting the insurance and reinsurance industry, the adequacy of our reserves, our ability to assess underwriting risk, trends in rates for property and casualty insurance and reinsurance, competition, investment market and investment income fluctuations, trends in insured and paid losses, catastrophes, pandemic, regulatory and legal uncertainties and other factors described in our latest Annual Report on Form 10-K. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.<\/i><\/p>\n About Everest<\/span><\/p>\n \nEverest is a global underwriting leader providing best-in-class property, casualty, and specialty reinsurance and insurance solutions that address customers\u2019 most pressing challenges. Known for a 50-year track record of disciplined underwriting, capital and risk management, Everest, through its global operating affiliates, is committed to underwriting opportunity for colleagues, customers, shareholders, and communities worldwide.<\/p>\n \nEverest common stock (NYSE: RE) is a component of the S&P 500 index.<\/p>\n \nAdditional information about Everest, our people, and our products can be found on our website at www.everestre.com<\/a>.<\/p>\n \nA conference call discussing the results will be held at 8:00 a.m. Eastern Time on May 2, 2023. The call will be available on the Internet through the Company\u2019s web site at everestre.com\/investors.<\/p>\n \nRecipients are encouraged to visit the Company\u2019s web site to view supplemental financial information on the Company\u2019s results. The supplemental information is located at www.everestre.com<\/a> in the \u201cInvestors\/Financials\/Quarterly Results\u201d section of the website. The supplemental financial information may also be obtained by contacting the Company directly.<\/p>\n \n_______________________________________________<\/p>\n \nThe Company generally uses after-tax operating income (loss), a non-GAAP financial measure, to evaluate its performance. After-tax operating income (loss) consists of net income (loss) excluding after-tax net gains (losses) on investments and after-tax net foreign exchange income (expense) as the following reconciliation displays:<\/p>\n \n2023<\/p>\n<\/td>\n \n2022<\/p>\n<\/td>\n \n2023<\/p>\n<\/td>\n \n2022<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n443<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n11.31<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n406<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n10.31<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n443<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n11.31<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n406<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n10.31<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n6<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.14<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(123<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(3.14<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n6<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.14<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(123<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(3.14<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n(84<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(2.14<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n15<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.39<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(84<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(2.14<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n15<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.39<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n365<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n9.31<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n298<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n7.56<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n365<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n9.31<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n298<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n7.56<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAlthough net gains (losses) on investments and net foreign exchange income (expense) are an integral part of the Company\u2019s insurance operations, the determination of net gains (losses) on investments and foreign exchange income (expense) is independent of the insurance underwriting process. The Company believes that the level of net gains (losses) on investments and net foreign exchange income (expense) for any particular period is not indicative of the performance of the underlying business in that particular period. Providing only a GAAP presentation of net income (loss) makes it more difficult for users of the financial information to evaluate the Company\u2019s success or failure in its basic business and may lead to incorrect or misleading assumptions and conclusions. The Company understands that the equity analysts who follow the Company focus on after-tax operating income (loss) in their analyses for the reasons discussed above. The Company provides after-tax operating income (loss) to investors so that they have what management believes to be a useful supplement to GAAP information concerning the Company\u2019s performance.<\/p>\n –Financial Details Follow–<\/b><\/p>\n \nThree Months Ended<\/p>\n<\/td>\n<\/tr>\n \nMarch 31,<\/p>\n<\/td>\n<\/tr>\n \n2023<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2022<\/p>\n<\/td>\n<\/tr>\n \n(unaudited)<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n3,100<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2,792<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n260<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n243<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(8<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(12<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n4<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(137<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n9<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(5<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(154<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(79<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n15<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n3,286<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,896<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n1,966<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,790<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n661<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n605<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n200<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n161<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n19<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n14<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n32<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n24<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n2,878<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,594<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n408<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n302<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n43<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n365<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n298<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n246<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(815<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n3<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n249<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(811<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n31<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(34<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n280<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(844<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n645<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(547<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n9.31<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n7.57<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n9.31<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n7.56<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nMarch 31,<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nDecember 31,<\/p>\n<\/td>\n<\/tr>\n \n2023<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2022<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n23,560<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n22,236<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n825<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n839<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n250<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n281<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n4,156<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,085<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n1,034<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,032<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n1,610<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,398<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n31,435<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n29,872<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n235<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n217<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n3,922<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,619<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n182<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n136<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n2,125<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,105<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n1,071<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,056<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n1,011<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n962<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n611<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n610<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n387<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n459<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n860<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n930<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n41,839<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n39,966<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n22,878<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n22,065<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n29<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n29<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n5,418<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,147<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n10<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n13<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n618<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n567<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n123<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n74<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n2,348<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,347<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n218<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n218<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n519<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n519<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n41<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n19<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n201<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n422<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n526<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n32,825<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n31,525<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n1<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n2,295<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,302<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(1,716<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1,996<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(3,908<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(3,908<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n12,342<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n12,042<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n9,014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,441<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n41,839<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n39,966<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nThree Months Ended<\/p>\n<\/td>\n<\/tr>\n \nMarch 31,<\/p>\n<\/td>\n<\/tr>\n \n2023<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2022<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n365<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n298<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(259<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(14<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(17<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(67<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n7<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(126<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n41<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n28<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(7<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n681<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n632<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n226<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n17<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n46<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n47<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(125<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(5<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(98<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n48<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n71<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(121<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n47<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n12<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n12<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(1<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n19<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(5<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n154<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n1,064<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n846<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n562<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n849<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n72<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n419<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n28<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n46<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n90<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n137<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n163<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(1,613<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2,011<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(11<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(1<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(195<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(242<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(137<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n4<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n355<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n267<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n46<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(752<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(421<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(19<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(14<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(65<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(61<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(19<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(17<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(103<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(94<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n3<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n212<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n337<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n1,398<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,441<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n1,610<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,778<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n2<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n3<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n10<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\u00a0<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230501005635\/en\/<\/a><\/span><\/p>\n \nMedia: Dawn Lauer \nInvestors: Matt Rohrmann KEYWORDS:<\/b> Europe Caribbean United Kingdom Bermuda<\/p>\n INDUSTRY KEYWORDS:<\/b> Insurance Professional Services<\/p>\n
\nEverest Re Group, Ltd. (\u201cEverest\u201d or the \u201cGroup\u201d) today reported its first quarter 2023 results.<\/p>\n\n
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\n Net income and operating income<\/b><\/td>\n Q1<\/b><\/td>\n Year to Date<\/b><\/td>\n \n Q1<\/b><\/td>\n Year to Date<\/b><\/td>\n<\/tr>\n \n All values in USD millions except for per share amounts and percentages<\/b><\/td>\n \n \n \n \n \n \n Everest Re Group<\/span><\/td>\n \n \n \n \n <\/tr>\n \n Net income (loss)<\/td>\n \n \n \n \n \n \n Operating income (loss) (1)<\/sup><\/td>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Net income (loss) per diluted common share<\/td>\n \n \n \n \n \n \n Net operating income (loss) per diluted common share<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Net income (loss) return on average equity (annualized)<\/td>\n \n \n \n \n \n \n After-tax operating income (loss) return on average equity (annualized)<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Notes<\/td>\n \n \n \n \n <\/tr>\n \n (1)<\/sup> Refer to the reconciliation of net income to net operating income found on page 7 of this press release<\/td>\n<\/tr>\n<\/table>\n \n
\n Shareholders’ Equity and Book Value per Share<\/b><\/td>\n Q1<\/b><\/td>\n Year to Date<\/b><\/td>\n \n Q1<\/b><\/td>\n Year to Date<\/b><\/td>\n<\/tr>\n \n All values in USD millions except for per share amounts and percentages<\/b><\/td>\n \n \n \n \n \n \n \n \n \n \n Beginning shareholders’ equity<\/td>\n \n \n \n \n \n \n \n \n \n \n Net income (loss)<\/td>\n \n \n \n \n \n \n \n \n \n \n Change – unrealized gains (losses) – Fixed inc. investments<\/td>\n \n \n \n \n \n \n \n \n \n \n Dividends to shareholders<\/td>\n \n \n \n \n \n \n \n \n \n \n Purchase of treasury shares<\/td>\n \n \n \n \n \n \n \n \n \n \n Other<\/td>\n \n \n \n \n \n \n \n \n \n \n Ending shareholders’ equity<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Common shares outstanding<\/td>\n \n \n \n \n \n \n \n \n Book value per common share outstanding<\/td>\n \n \n \n \n \n \n \n \n Less: Unrealized appreciation\/depreciation of fixed maturity investments (“URAD”)<\/td>\n \n \n \n \n \n \n \n Adjusted book value per common share outstanding excluding URAD<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Change in BVPS adjusted for dividends<\/td>\n \n \n \n \n \n <\/tr>\n \n Total Shareholder Return (“TSR”) – Annualized<\/td>\n \n \n \n \n \n <\/tr>\n \n Common share dividends paid – last 12 months<\/td>\n \n \n \n \n \n \n \n \n
\n Underwriting information – Everest Re Group<\/b><\/td>\n Q1<\/b><\/td>\n Year to Date<\/b><\/td>\n \n Q1<\/b><\/td>\n Year to Date<\/b><\/td>\n \n Year on Year Change<\/b><\/td>\n<\/tr>\n \n All values in USD millions except for percentages<\/b><\/td>\n \n \n \n \n \n \n Q1<\/b><\/td>\n Year to Date<\/b><\/td>\n<\/tr>\n \n Gross written premium<\/td>\n \n \n \n \n \n \n \n \n \n Net written premium<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Loss ratio<\/td>\n \n \n \n \n \n \n (0.7) pts<\/td>\n (0.7) pts<\/td>\n<\/tr>\n \n Commission and brokerage ratio<\/td>\n \n \n \n \n \n \n (0.4) pts<\/td>\n (0.4) pts<\/td>\n<\/tr>\n \n Other underwriting expenses<\/td>\n \n \n \n \n \n \n 0.6 pts<\/td>\n 0.6 pts<\/td>\n<\/tr>\n \n Combined ratio<\/td>\n \n \n \n \n \n \n (0.4) pts<\/td>\n (0.4) pts<\/td>\n<\/tr>\n \n Attritional combined ratio (1)<\/sup><\/td>\n \n \n \n \n \n \n 0.1 pts<\/td>\n 0.1 pts<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Pre-tax net catastrophe losses (2)<\/sup><\/td>\n \n \n \n \n \n \n \n <\/tr>\n \n Pre-tax net Russia\/Ukraine losses<\/td>\n \n \n \n \n \n \n \n <\/tr>\n \n Pre-tax net prior year reserve development<\/td>\n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Notes<\/td>\n \n \n \n \n \n \n \n <\/tr>\n \n (1) Attritional ratios exclude catastrophe losses, net CAT reinstatement premiums earned, prior year development, COVID-19 losses, CECL and losses from the Russia\/Ukriane war<\/td>\n<\/tr>\n \n (2) Pre-tax net catastrophe losses are net of reinsurance and reinstatement premiums<\/td>\n<\/tr>\n<\/table>\n \n
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\n Underwriting information – Reinsurance segment<\/b><\/td>\n Q1<\/b><\/td>\n Year to Date<\/b><\/td>\n \n Q1<\/b><\/td>\n Year to Date<\/b><\/td>\n \n Year on Year Change<\/b><\/td>\n<\/tr>\n \n All values in USD millions except for percentages<\/b><\/td>\n \n \n \n \n \n \n Q1<\/b><\/td>\n Year to Date<\/b><\/td>\n<\/tr>\n \n Gross written premium<\/td>\n \n \n \n \n \n \n \n \n \n Net written premium<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Loss ratio<\/td>\n \n \n \n \n \n \n (1.2) pts<\/td>\n (1.2) pts<\/td>\n<\/tr>\n \n Commission and brokerage ratio<\/td>\n \n \n \n \n \n \n 0.1 pts<\/td>\n 0.1 pts<\/td>\n<\/tr>\n \n Other underwriting expenses<\/td>\n \n \n \n \n \n \n 0.4 pts<\/td>\n 0.4 pts<\/td>\n<\/tr>\n \n Combined ratio<\/td>\n \n \n \n \n \n \n (0.6) pts<\/td>\n (0.6) pts<\/td>\n<\/tr>\n \n Attritional combined ratio (1)<\/sup><\/td>\n \n \n \n \n \n \n (0.3) pts<\/td>\n (0.3) pts<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Pre-tax net catastrophe losses (2)<\/sup><\/td>\n \n \n \n \n \n \n \n <\/tr>\n \n Pre-tax net Russia\/Ukraine losses<\/td>\n \n \n \n \n \n \n \n <\/tr>\n \n Pre-tax net prior year reserve development<\/td>\n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Notes<\/td>\n \n \n \n \n \n \n \n <\/tr>\n \n (1) Attritional ratios exclude catastrophe losses, net CAT reinstatement premiums earned, prior year development, COVID-19 losses, CECL and losses from the Russia\/Ukraine war<\/td>\n<\/tr>\n \n (2) Pre-tax net catastrophe losses are net of reinsurance and reinstatement premiums<\/td>\n<\/tr>\n<\/table>\n \n
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\n Underwriting information – Insurance segment<\/b><\/td>\n Q1<\/b><\/td>\n Year to Date<\/b><\/td>\n \n Q1<\/b><\/td>\n Year to Date<\/b><\/td>\n \n Year on Year Change<\/b><\/td>\n<\/tr>\n \n All values in USD millions except for percentages<\/b><\/td>\n \n \n \n \n \n \n Q1<\/b><\/td>\n Year to Date<\/b><\/td>\n<\/tr>\n \n Gross written premium<\/td>\n \n \n \n \n \n \n \n \n \n Net written premium<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Loss ratio<\/td>\n \n \n \n \n \n \n 0.6 pts<\/td>\n 0.6 pts<\/td>\n<\/tr>\n \n Commission and brokerage ratio<\/td>\n \n \n \n \n \n \n (0.7) pts<\/td>\n (0.7) pts<\/td>\n<\/tr>\n \n Other underwriting expenses<\/td>\n \n \n \n \n \n \n 0.6 pts<\/td>\n 0.6 pts<\/td>\n<\/tr>\n \n Combined ratio<\/td>\n \n \n \n \n \n \n 0.5 pts<\/td>\n 0.5 pts<\/td>\n<\/tr>\n \n Attritional combined ratio (1)<\/sup><\/td>\n \n \n \n \n \n \n 0.8 pts<\/td>\n 0.8 pts<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Pre-tax net catastrophe losses (2)<\/sup><\/td>\n \n \n \n \n \n \n \n <\/tr>\n \n Pre-tax net Russia\/Ukraine losses<\/td>\n \n \n \n \n \n \n \n <\/tr>\n \n Pre-tax net prior year reserve development<\/td>\n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Notes<\/td>\n \n \n \n \n \n \n \n <\/tr>\n \n (1) Attritional ratios exclude catastrophe losses, net CAT reinstatement premiums earned, prior year development, COVID-19 losses, CECL and losses from the Russia\/Ukraine war<\/td>\n<\/tr>\n \n (2) Pre-tax net catastrophe losses are net of reinsurance and reinstatement premiums<\/td>\n<\/tr>\n<\/table>\n \n
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\n \n Three Months Ended March 31,<\/td>\n \n \n \n Three Months Ended March 31,<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n (Dollars in millions, except per share amounts)<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n (unaudited)<\/td>\n \n \n \n (unaudited)<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n Per Diluted<\/td>\n \n Per Diluted<\/td>\n \n \n \n \n \n Per Diluted<\/td>\n \n \n \n Per Diluted<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n Amount<\/td>\n Share<\/td>\n Amount<\/td>\n Share<\/td>\n \n \n \n Amount<\/td>\n \n Share<\/td>\n \n Amount<\/td>\n \n Share<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n After-tax operating income (loss)<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n After-tax net gains (losses) on investments<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n After-tax net foreign exchange income (expense)<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Net income (loss)<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n (Some amounts may not reconcile due to rounding.)<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n<\/table>\n \n
\n EVEREST RE GROUP, LTD.<\/td>\n<\/tr>\n \n CONSOLIDATED STATEMENTS OF OPERATIONS<\/td>\n<\/tr>\n \n AND COMPREHENSIVE INCOME (LOSS)<\/td>\n<\/tr>\n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n (Dollars in millions, except per share amounts)<\/td>\n \n \n \n \n \n \n \n REVENUES:<\/td>\n \n \n <\/tr>\n \n Premiums earned<\/td>\n \n \n \n \n \n \n \n \n Net investment income<\/td>\n \n \n \n \n \n \n \n \n Net gains (losses) on investments:<\/td>\n \n \n <\/tr>\n \n Credit allowances on fixed maturity securities<\/td>\n \n \n \n \n \n \n \n \n Gains (losses) from fair value adjustments<\/td>\n \n \n \n \n \n \n \n \n Net realized gains (losses) from dispositions<\/td>\n \n \n \n \n \n \n \n \n Total net gains (losses) on investments<\/td>\n \n \n \n \n \n \n \n \n Other income (expense)<\/td>\n \n \n \n \n \n \n \n \n Total revenues<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n CLAIMS AND EXPENSES:<\/td>\n \n \n <\/tr>\n \n Incurred losses and loss adjustment expenses<\/td>\n \n \n \n \n \n \n \n \n Commission, brokerage, taxes and fees<\/td>\n \n \n \n \n \n \n \n \n Other underwriting expenses<\/td>\n \n \n \n \n \n \n \n \n Corporate expenses<\/td>\n \n \n \n \n \n \n \n \n Interest, fees and bond issue cost amortization expense<\/td>\n \n \n \n \n \n \n \n \n Total claims and expenses<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n INCOME (LOSS) BEFORE TAXES<\/td>\n \n \n \n \n \n \n \n \n Income tax expense (benefit)<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n NET INCOME (LOSS)<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Other comprehensive income (loss), net of tax:<\/td>\n \n \n <\/tr>\n \n Unrealized appreciation (depreciation) (“URA(D)”) on securities arising during the period<\/td>\n \n \n \n \n \n \n \n \n Reclassification adjustment for realized losses (gains) included in net income (loss)<\/td>\n \n \n \n \n \n \n \n \n Total URA(D) on securities arising during the period<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Foreign currency translation adjustments<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Reclassification adjustment for amortization of net (gain) loss included in net income (loss)<\/td>\n \n \n \n \n \n \n \n \n Total benefit plan net gain (loss) for the period<\/td>\n \n \n \n \n \n \n \n \n Total other comprehensive income (loss), net of tax<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n COMPREHENSIVE INCOME (LOSS)<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n EARNINGS PER COMMON SHARE:<\/td>\n \n \n <\/tr>\n \n Basic<\/td>\n \n \n \n \n \n \n \n \n Diluted<\/td>\n \n \n \n \n \n \n \n \n
\n EVEREST RE GROUP, LTD.<\/td>\n<\/tr>\n \n CONSOLIDATED BALANCE SHEETS<\/td>\n<\/tr>\n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n (Dollars and share amounts in millions, except par value per share)<\/td>\n \n \n \n \n \n (unaudited)<\/td>\n \n <\/tr>\n \n ASSETS:<\/td>\n \n \n <\/tr>\n \n Fixed maturities – available for sale, at fair value<\/td>\n \n \n \n \n \n \n \n \n (amortized cost: 2023, $25,247; 2022, $24,191, credit allowances: 2023, ($62); 2022, ($54))<\/td>\n \n \n <\/tr>\n \n Fixed maturities – held to maturity, at amortized cost<\/td>\n \n \n <\/tr>\n \n (fair value: 2023, $814; 2022, $821, net of credit allowances: 2023, ($9); 2022, ($9))<\/td>\n \n \n \n \n \n \n \n \n Equity securities, at fair value<\/td>\n \n \n \n \n \n \n \n \n Other invested assets<\/td>\n \n \n \n \n \n \n \n \n Short-term investments<\/td>\n \n \n \n \n \n \n \n \n Cash<\/td>\n \n \n \n \n \n \n \n \n Total investments and cash<\/td>\n \n \n \n \n \n \n \n \n Accrued investment income<\/td>\n \n \n \n \n \n \n \n \n Premiums receivable (net of credit allowances: 2023, ($30); 2022, ($29))<\/td>\n \n \n \n \n \n \n \n \n Reinsurance paid loss recoverables (net of credit allowances: 2023, ($24); 2022, ($23))<\/td>\n \n \n \n \n \n \n \n \n Reinsurance unpaid loss recoverables<\/td>\n \n \n \n \n \n \n \n \n Funds held by reinsureds<\/td>\n \n \n \n \n \n \n \n \n Deferred acquisition costs<\/td>\n \n \n \n \n \n \n \n \n Prepaid reinsurance premiums<\/td>\n \n \n \n \n \n \n \n \n Income tax asset, net<\/td>\n \n \n \n \n \n \n \n \n Other assets (net of credit allowances: 2023, ($7); 2022, ($5))<\/td>\n \n \n \n \n \n \n \n \n TOTAL ASSETS<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n LIABILITIES:<\/td>\n \n \n <\/tr>\n \n Reserve for losses and loss adjustment expenses<\/td>\n \n \n \n \n \n \n \n \n Future policy benefit reserve<\/td>\n \n \n \n \n \n \n \n \n Unearned premium reserve<\/td>\n \n \n \n \n \n \n \n \n Funds held under reinsurance treaties<\/td>\n \n \n \n \n \n \n \n \n Other net payable to reinsurers<\/td>\n \n \n \n \n \n \n \n \n Losses in course of payment<\/td>\n \n \n \n \n \n \n \n \n Senior notes<\/td>\n \n \n \n \n \n \n \n \n Long term notes<\/td>\n \n \n \n \n \n \n \n \n Borrowings from FHLB<\/td>\n \n \n \n \n \n \n \n \n Accrued interest on debt and borrowings<\/td>\n \n \n \n \n \n \n \n \n Unsettled securities payable<\/td>\n \n \n \n \n \n \n \n \n Other liabilities<\/td>\n \n \n \n \n \n \n \n \n Total liabilities<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n SHAREHOLDERS’ EQUITY:<\/td>\n \n \n <\/tr>\n \n Preferred shares, par value: $0.01; 50.0 shares authorized;<\/td>\n \n \n <\/tr>\n \n no shares issued and outstanding<\/td>\n \n \n \n \n \n \n \n \n Common shares, par value: $0.01; 200.0 shares authorized; (2023) 70.0<\/td>\n \n \n <\/tr>\n \n and (2022) 69.9 outstanding before treasury shares<\/td>\n \n \n \n \n \n \n \n \n Additional paid-in capital<\/td>\n \n \n \n \n \n \n \n \n Accumulated other comprehensive income (loss), net of deferred income tax expense<\/td>\n \n \n <\/tr>\n \n (benefit) of ($218) at 2023 and ($250) at 2022<\/td>\n \n \n \n \n \n \n \n \n Treasury shares, at cost: 30.8 shares (2023) and 30.8 shares (2022)<\/td>\n \n \n \n \n \n \n \n \n Retained earnings<\/td>\n \n \n \n \n \n \n \n \n Total shareholders’ equity<\/td>\n \n \n \n \n \n \n \n \n TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY<\/td>\n \n \n \n \n \n \n \n \n
\n EVEREST RE GROUP, LTD.<\/td>\n<\/tr>\n \n CONSOLIDATED STATEMENTS OF CASH FLOWS<\/td>\n<\/tr>\n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n (Dollars in millions)<\/td>\n \n \n \n \n \n (unaudited)<\/td>\n<\/tr>\n \n CASH FLOWS FROM OPERATING ACTIVITIES:<\/td>\n \n \n <\/tr>\n \n Net income (loss)<\/td>\n \n \n \n \n \n \n \n \n Adjustments to reconcile net income to net cash provided by operating activities:<\/td>\n \n \n <\/tr>\n \n Decrease (increase) in premiums receivable<\/td>\n \n \n \n \n \n \n \n \n Decrease (increase) in funds held by reinsureds, net<\/td>\n \n \n \n \n \n \n \n \n Decrease (increase) in reinsurance recoverables<\/td>\n \n \n \n \n \n \n \n \n Decrease (increase) in income taxes<\/td>\n \n \n \n \n \n \n \n \n Decrease (increase) in prepaid reinsurance premiums<\/td>\n \n \n \n \n \n \n \n \n Increase (decrease) in reserve for losses and loss adjustment expenses<\/td>\n \n \n \n \n \n \n \n \n Increase (decrease) in future policy benefit reserve<\/td>\n \n \n \n \n \n \n \n \n Increase (decrease) in unearned premiums<\/td>\n \n \n \n \n \n \n \n \n Increase (decrease) in other net payable to reinsurers<\/td>\n \n \n \n \n \n \n \n \n Increase (decrease) in losses in course of payment<\/td>\n \n \n \n \n \n \n \n \n Change in equity adjustments in limited partnerships<\/td>\n \n \n \n \n \n \n \n \n Distribution of limited partnership income<\/td>\n \n \n \n \n \n \n \n \n Change in other assets and liabilities, net<\/td>\n \n \n \n \n \n \n \n \n Non-cash compensation expense<\/td>\n \n \n \n \n \n \n \n \n Amortization of bond premium (accrual of bond discount)<\/td>\n \n \n \n \n \n \n \n \n Net (gains) losses on investments<\/td>\n \n \n \n \n \n \n \n \n Net cash provided by (used in) operating activities<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n CASH FLOWS FROM INVESTING ACTIVITIES:<\/td>\n \n \n <\/tr>\n \n Proceeds from fixed maturities matured\/called\/repaid – available for sale<\/td>\n \n \n \n \n \n \n \n \n Proceeds from fixed maturities sold – available for sale<\/td>\n \n \n \n \n \n \n \n \n Proceeds from fixed maturities matured\/called\/repaid – held to maturity<\/td>\n \n \n \n \n \n \n \n \n Proceeds from equity securities sold<\/td>\n \n \n \n \n \n \n \n \n Distributions from other invested assets<\/td>\n \n \n \n \n \n \n \n \n Cost of fixed maturities acquired – available for sale<\/td>\n \n \n \n \n \n \n \n \n Cost of fixed maturities acquired – held to maturity<\/td>\n \n \n \n \n \n \n \n \n Cost of equity securities acquired<\/td>\n \n \n \n \n \n \n \n \n Cost of other invested assets acquired<\/td>\n \n \n \n \n \n \n \n \n Net change in short-term investments<\/td>\n \n \n \n \n \n \n \n \n Net change in unsettled securities transactions<\/td>\n \n \n \n \n \n \n \n \n Net cash provided by (used in) investing activities<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n CASH FLOWS FROM FINANCING ACTIVITIES:<\/td>\n \n \n <\/tr>\n \n Common shares issued (redeemed) during the period for share-based compensation, net of expense<\/td>\n \n \n \n \n \n \n \n \n Purchase of treasury shares<\/td>\n \n \n \n \n \n \n \n \n Dividends paid to shareholders<\/td>\n \n \n \n \n \n \n \n \n Cost of shares withheld on settlements of share-based compensation awards<\/td>\n \n \n \n \n \n \n \n \n Net cash provided by (used in) financing activities<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n EFFECT OF EXCHANGE RATE CHANGES ON CASH<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Net increase (decrease) in cash<\/td>\n \n \n \n \n \n \n \n \n Cash, beginning of period<\/td>\n \n \n \n \n \n \n \n \n Cash, end of period<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n SUPPLEMENTAL CASH FLOW INFORMATION:<\/td>\n \n \n <\/tr>\n \n Income taxes paid (recovered)<\/td>\n \n \n \n \n \n \n \n \n Interest paid<\/td>\n \n \n \n \n \n \n \n <\/p>\n
\n
Chief Communications Officer
\n
Everest Global Services, Inc.
\n
908.300.7670<\/p>\n
\n
Head of Investor Relations
\n
Everest Global Services, Inc.
\n
908.604.7343<\/p>\n
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20230501005635\/en\/1621652\/3\/Everest_Logo.jpg\"){kind=logo}
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