Everest Re posts $357 million profit

Bermuda-based insurer and reinsurer Everest Re Group Ltd. recorded a profit of $357 million in the fourth quarter of 2015, up from $340 million posted for the same period in 2014, reported The Royal Gazette.

The results topped estimates by Wall Street analysts. Everest Re's profits totaled $978 million in 2015, compared to $1.1 billion the year prior. The company's gross written premiums increased 2% to $5.9 billion for the year. Gross written premiums amounted to $1.5 billion in the fourth quarter, up 6% year on year.

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