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Member, Beacon International Group, Ltd.
Bermuda-based reinsurer Everest Re Group Ltd.'s profits grew 77% year on year to nearly $292 million in the first quarter from nearly $172 million in the first quarter of 2016, The Royal Gazette reported. Gross written premiums grew 18% to $1.6 billion. "This growth is not coming at the expense of margin as we hold fast to our underwriting principles, which are focused on sustained profitability regardless of the market cycle," said Dominic Addesso, chief executive of Everest Re.