Everest Re shares up as Taranto reassures on rating; RenRe misses forecasts
Despite concerns over its Standard & Poor's rating, Bermudian Everest Re saw its share price jump last week after its Q4 operating performance outstripped analysts' expectations.
The reinsurer reported a quarterly net loss as investment losses wiped out underwriting profits, but Everest Re exceeded analysts' expectations by almost tripling Q4 operating income to $179.5mn. This translated to $2.93 a share, against forecasts of $2.84 a share according to a poll of analysts conducted by Reuters.
The company's share price surged...
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