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Everest Re, a multinational provider of reinsurance and insurance products, is rebranding as 'Everest Group' and changing its ticker to 'EG' to reflect its dual focus on reinsurance and primary insurance products. The company's Q1 revenues were $3.29bn, a 13.45% YoY increase, with a net income of $360.00mn, up 22.54% YoY, and a free cash flow of $1.20bn, up 19.01% since Q1'22. Combined with operational growth driven by macro tailwinds for reinsurance, segmented diversification, and geographic growth, this leads me to rate Everest a 'buy'
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Everest Re (RE) reported earnings 30 days ago. What's next for the stock?
Segmental strength, solid capital position and favorable estimates poise Everest Re (RE) well for growth.
While the top- and bottom-line numbers for Everest Re (RE) give a sense of how the business performed in the quarter ended March 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Everest Re's (RE) first-quarter results are likely to benefit from diversified growth across most lines of business, an increase in Casualty and Financial Lines, higher new money yields and prudent underwriting.
RE vs. CINF: Which Stock Is the Better Value Option?
HAMILTON, Bermuda--(BUSINESS WIRE)--Everest Re Group, Ltd. (“Everest”) (NYSE: RE) will hold its first quarter 2023 earnings conference call on Tuesday, May 2, 2023, beginning at 8:00 am Eastern Time. Dial in details can be obtained by completing the registration form available at: https://dpregister.com/sreg/10175856/f5f9c42940 The call can be accessed via a live, listen only webcast at www.everestre.com/Investors, where a replay of the call will also be available.
Segmental strength, solid capital position and favorable growth estimates poise Everest Re (RE) for growth.
UGP, RE and NTTYY made it to the Zacks Rank #1 (Strong Buy) growth stocks list on March 2, 2023.