Everest Re Reports Net Income of $305M in 1st Quarter

Everest Re Group on Thursday reported net income of $304.7 million, compared to a net loss of $315.9 million for the first quarter of 2011.Excluding realized capital gains and losses, after-tax operating income was $239.9 million for the first quarter of 2012, compared to an after-tax operating loss of $323.6 million in the prior-year quarter, the Bermuda-based reinsurer said in a press release.Everest Re reported gross written premiums of $1.05 billion during the first quarter, a decrease of 2% when compared to the first quarter of 2011. However, adjusting for the impact of reinstatement prem...