Everest Re Group Generates Record Earnings for 2Q

Everest Re Group, Ltd. (NYSE: RE) reported second quarter 2004 after-tax operating income, which excludes realized capital gains and losses, of $174.4 million, or $3.07 per diluted share, a 62.8% increase compared to $107.1 million, or $1.94 per diluted share, in the second quarter of 2003. Second quarter 2004 net income increased 140.9% to $264 million, or $4.64 per diluted share, compared to $109.6 million, or $1.99 per diluted share, in the second quarter of 2003. Operating income differs from net income only by the exclusion of realized gains and losses on investments. For the six mont...